New Year, New Home: How To Make It Happen in 2025

 
 

This is the time when a lot of people take a moment to reflect and set their goals for this year. And as you picture what you want your 2025 to look like, one thing that may pop into your mind is the vision of you in a new home. But how do you get there? And where do you start?

Here’s some advice that can help you get the ball rolling.

Focus on Your Why

To lay the foundation, you need to focus on your why. While the dollars and cents are important, so is the driving force behind your desire to move. Maybe you need more space for a growing family, want to sell so you can downsize, or are finally ready to buy your first home. Whatever your reason, it’s important to keep it front and center.

Your why is what helps you stay focused. Share your motivation with your agent and they’ll use their expertise to help support that goal, no matter what the market looks like. With a great agent by your side, you’ll have someone to guide you, problem-solve, and keep you moving forward until you can check that goal off your to-do list.

Get Clear on What You Need

Then it’s time to figure out what your next home needs to have. How many bedrooms do you need? If you don’t have a designated home office, is that a deal-breaker? What about a big fenced-in backyard? Knowing your must-haves and nice-to-haves makes the search a lot smoother.

Since affordability is still tight, it’s important to have a clear idea of your essential items upfront. Maybe you can flex a bit on location, if it’s got everything else you’re looking for. Go over those essential items with your agent and they’ll help you focus on the homes that check the boxes that matter most while staying within your price range.

Know Your Numbers

Before you jump in, take a look at your finances. How much have you saved? What monthly payment feels comfortable? Getting clear on your budget early will help you know what’s possible.

The best way to do this is by partnering with trusted real estate professionals, like a local agent and a lender. They’ll help you:

  • Plan for your down payment and look into down payment assistance programs

  • Understand the equity you have in your current home and how you can use it to fuel your next move if you’re selling

  • Get pre-approved for a mortgage so you know what you can borrow

Lean on a Pro To Guide You

It can be hard to know where to start, but you don’t have to do it alone. A real estate agent knows what you need to do to get ready to buy or sell, how to navigate the process, and can answer your questions every step of the way. As Bankrate puts it:

“. . . now more than ever, it’s smart to lean on the guidance of an experienced local real estate agent. If you want to enter the housing market in 2025, whether as a buyer or a seller, let a pro lead the way for you.”

Remember, buying or selling is a big milestone and a great goal for this year. With the right expert on your team, you’ll feel confident and ready to take on the market.

Bottom Line

If buying or selling a home is part of your goals for 2025, now’s the time to get started. Focus on your why, know what you need, and connect with trusted pros to make it happen. Team up with an expert and make this the year you accomplish your real estate resolutions.

Read more at Keeping Current Matters

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Personal finance tops 2025 New Year's resolutions. Here's how to make it stick.

 
 

Usually health and fitness top most peoples' New Year's resolutions – but for 2025 money and how to better manage is also a top priority for a lot of people.

That's according to a survey shared by the Certified Financial Planner Board of Standards. The survey found that 45% of respondents said they wanted to save more money, while 32% said their goal was to reduce debt. Exercising more fell between those two responses, at 37%.

But often sticking to your goals is easier said than done, which is why several financial experts and advisers recommend you start small and simple to set yourself up for success.

"Slow and steady absolutely wins the race," said Thomas Nitzsche with the non-profit credit counseling agency Money Management International. The best-laid plan, he said, should begin with the basics.

Setting a budget

"Budgeting is the ground floor of it all, you can't have a plan without a budget in place," Nitzsche said. "Most people we work with haven't created a budget or haven't done one in a very long time, and they don't have a firm grasp on what's coming in, what's going out, and where they can plug some of those gaps."

After three years of inflation, any pay increases you might have experienced likely haven't caught up to your monthly expenses, warns Greg McBride, chief financial analyst at Bankrate.

"Make that monthly budget for 2025 and resolve to track your spending against it throughout the year," he said.

Track your expenses

You won't get far, Nitzsche explains, if you don't keep track of how you're spending throughout the year. How you do that is up to you – whether it's old-fashioned pen and paper, an Excel spreadsheet, or an app.

"Everybody's different," he said. "It really doesn't matter how you do it, it's just that you're doing it."

He recommends committing yourself to detailed tracking for at least a few months until you feel better about your spending in general and then you might opt to do it less frequently. For example, you might find you're paying for several unwanted subscriptions you didn't know you had, Nitzsche said.

McBride also cautions you may need to make adjustments during the year as certain expenses increase, requiring cutting back in other areas.

"Calibrate your spending with your income, and any month you spend less than budgeted, transfer the difference into your savings account, ideally a high-yield savings account," he said.

NerdWallet offers a free app lets you track your cash flow. Empower Personal Dashboard is also a free app with features to help you track your spending, according to NerdWallet.

Other tips

When it comes to tackling your credit card debt and high interest rates, you have more power than you realize, according to Nitzsche.

"Most creditors will work with you to reduce interest rates," he said. "That's just really important to make sure that the payments you're making is as much as possible, and going to principal rather than interest so you're able to make some progress on it."

Lending Tree found the majority of people who simply picked up the phone to ask for a lower rate got it, cutting it by an average of six points.

According to Matt Schulz, chief credit analyst at LendingTree, a 0% balance transfer credit card is also "a good weapon" in the fight against high card APRs, or annual percentage rates.

Ultimately, Nitzsche says to take things slow and keep in mind setbacks along the way don't have to spell defeat.

"Especially after a prolonged period of inflation and high cost of living," he said. "I think it's just important to understand that you're not alone."

Experts also warn to beware of scams when seeking relief options. Scammers use urgency to trick people, so taking your time to make any financial decision can help protect you from losing money. CBS News Philadelphia previously warned that agencies charging upfront fees before offering services, employing pushy sales tactics, or promising big claims that guarantee to eliminate your debts could signal a scam.

Read more at CBS News

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5 New Year's Resolutions for Your Home

 
 

Every year when January rolls around you vow to lose weight, save money or spend more time with family and friends. But what goals do you set for your home?

Here are our five picks for the best home improvement resolutions for the new year and how to achieve them:

1. Streamline the stuff

One of the best and least expensive ways to feel better about your home is to clear it of clutter.

Each year most of us acquire a mountain of stuff. Without some regular purging, cabinets and drawers get jam-packed and it becomes hard to find the things you use and enjoy the most. (All that clutter also makes your house look dated and dirty, designers say.)

This year resolve to go room-by-room periodically clearing anything that you don't use, wear or love and donate it to charity. After that, think twice about what you bring in, says Antoinette Nue, an Atlanta consultant who specializes in helping people simplify and go green.

"Fill your home with the things that raise your energy level and make you feel good, and get rid of the things that drain your energy or are broken," she says.

Stash useful (but not beautiful) items such as DVDs, remotes and those kicked-off shoes in simple woven baskets. Group similar items together on sleek trays, says Stuart McCormick, a designer with Liz Levin Interiors in Washington D.C.

Clear your counters of everything you don't use on a daily basis. And get ready to breathe a little easier in your own home. 

2. Make it safe and sound

Your home may be beautiful, but is it safe? There are a few things that every homeowner should do to ensure that they're not living with a potential health hazard or fire risk.

First, check your house for radon. This colorless, odorless gas causes about 21,000 lung cancer deaths each year from the radioactive particles it traps in your lungs as you breathe, according to the U.S. Environmental Protection Agency. One in every fifteen homes has elevated levels. And with test kits costing as little as $20 at your local hardware store, there's no reason not to get right on that.

While we're on the subject of deadly gas, make sure you install a carbon monoxide detector on every bedroom floor in addition to fire detectors. If a chimney flue or furnace vent gets blocked or leaks, carbon monoxide could back up in your house and kill you. Like a radon test, this is a small investment — $40 or more — for such an important safeguard.

Watch out for dryer lint. We know you clean the little trap inside the door, but most people neglect to clean the vents and ducts behind the dryer. Lint may seem innocent, but it's highly combustible, according to the U.S. Fire Administration, accounting for more than 15,000 building fires a year.

Make sure your house can breathe. Hickory Hills, Ill. home inspector Jack McGraw is always surprised at how many people's bathrooms and attics aren't vented to the outside (or the vents are covered over with shingles.) This makes you a prime candidate for mold.

And if you're considering a remodel — and your home was last built or remodeled before 1978 — consider testing for lead paint and asbestos flooring. It will have to handled properly during removal, or particles can be released into the air for you to ingest.

3. Shrink your bills (and your carbon footprint in the process)

When people think of going green, they often think it takes solar panels or a hybrid car to make a difference.

Not so, says Bob Schildgen, who wrote the "Hey Mr. Green" column for Sierra magazine. It just takes a little old-fashioned common sense.

The best place to start is by cutting your energy usage in your home:

- Remember your mom's advice and switch off the lights when you leave a room.

- Turn off your air conditioner when you leave the house and dial your heater down to 55 degrees at night.

- Install LED bulbs and low-flow showerheads.

- Try drying some of your clothes on the line and wait for the dishwasher or washing machine to be full before you run them.

- Turn off your power strips and/or set your home computer to revert to sleep mode when not in use.

- Water your yard less. Put in drought-tolerant landscaping if necessary.

- Give composting a try. Your garden will thank you.

4. Work out a weekly system for keeping your house clean

Here are a few tips for keeping the mess under control from Jeff Campbell, author of the book Speed Cleaning and owner of the Clean Team housekeeping service in San Francisco.

Daily: Dishes go in the dishwasher every night - no excuses! Dirty clothes go in the hamper and jackets or clean clothes are hung in the closet. Bring everything back to its assigned place.

Weekly: Clean your entire house, using these tips:

- Keep all of your cleaners, as well as rubber gloves and spare cleaning cloths - in a portable carryall that moves with you from room to room.

- Stash cleaning implements such as a toothbrush, scraper, sponge, a few cleaning cloths and plastic bags in a builder's apron that you wear when you clean. Hook your glass cleaner and all-purpose cleaning spray on the loops to keep your hands free as you work around the room clockwise, cleaning from high (cabinets) to low (floors.)

- Focus on one type of cleaning at a time. It's faster, Campbell says. Wipe down fingerprints on all of the cabinets, for instance, before moving on to spraying and wiping counters. Then move on to windows and mirrors and appliances. Once that's done move on to sweeping and then mopping floors.

- For optimum efficiency, enlist the help of your family. If you can, divide the jobs among at least three parties: One of you can do the dusting/vacuuming and changing beds, the other can do the bathroom cleanup, leaving only the kitchen and trash emptying for you to handle. The upside? You can get the whole house done in 45 minutes, Campbell says, leaving more time on the weekends for the park or the movies.

5, Get your place ready for entertaining

Each year most of us vow to spend more time with family and friends. To make you feel like inviting people in, why not give the areas you entertain in a little update?

You don't have go for broke here and invest in a new kitchen remodel. All it takes to get a fresh new look is a little bit of rearranging and a few updates, says designer McCormick.

One easy update that makes your home seem more "finished" is the addition of plants, she says.

"They bring in new energy and help clean the air," she says. "And it's a great way to decorate if you're on a budget."

A couple of dramatic presentations like a large flowering agapanthus or potted palm in a bright ceramic planter that complements your existing color scheme will do the trick.

Pulling out a new accent color from your existing decor can make the whole room seem fresh. Pick an underused color in the room and add more of it in the form of a new pillow or throw to update your look, McCormick advises. A colorful rug or runner can also help anchor your space.

Lastly, take some time to rearrange your furniture so it is oriented in conversation groups and not just facing the television. That just might up for chances for real conversation and connection in the New Year.

Read more at HGTV

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The two big housing market trends to watch in 2025

 
 

All the housing market data for 2024 is in, and it’s fair to say that the housing market surprised us again! However, there are two big trends that stand out as we launch into 2025 — affordability and sellers in the market.

The elephant in the room is affordability. Home prices finished 2024 up a few percent nationally and mortgage rates are at their highest level in seven months — back over 7% as we head into January. In fact, at $2,290, the typical mortgage payment for homebuyers is starting this next year at the highest level ever.

There are a few markets in the South where home prices have inched down recently — and every bit helps buyers — but those prices have not adjusted much, and there’s no sign of any major correction in the works. In 2025, housing affordability in the U.S. remains at it’s worst levels in decades. 

In the last few months, the market finally saw some sales growth over the previous year. That growth is in jeopardy if we stay at the high end of the mortgage rate range into the first quarter 2025. Homes are already staying on the market 20% longer than a year ago. The fastest path to changing affordability is a change in interest rates, but there’s no guarantee that rates will fall.

In the HousingWire mortgage rate forecast for 2025, we included the possibility of a five handle during the year. What’s the scenario where mortgage rates drop over 100 basis points in 2025? If we get lucky on economic news and spreads continue to tighten a bit, we could see some alleviation to the affordability vice everyone is now in.

The other trend to watch is whether we finally have more sellers entering the market in 2025. The three years in the post-pandemic housing market have been marked by very few sellers — 60,000 new listings in a given week vs. 80,000 in years’ past. There are some signals that seller volume is starting to creep back to normal levels.

Let’s look at this week’s data and see if we can tease out the signals for impact on the 2025 housing market.

Inventory continues to contract

There are now 651,000 single-family homes unsold on the market across the U.S. That’s 2.5% fewer than a week prior. It’s the holidays, of course. We’ll see another week of inventory contraction this week with New Year’s mid-week. 

Some years, when demand is stronger, the available inventory of unsold homes keeps shrinking until February or March. But demand is not strong nationally, so we expect inventory to bounce along under 650,000 homes in January and start ticking up by February.

Inventory is increasing in basically every market around the country. The Sun Belt markets have led inventory growth with the northern markets much tighter, but we see this disparity evening out a bit in 2025.

New listings are low

As we look deeper into the supply side of the market, there were 32,500 new listings unsold this week. That’s very low over the holidays. But, it’s notable that, for this last week of the year, there were more new listings this week than the same week for the past six or seven years. 

It’s hard to measure precisely with the holidays, but 32,000 is 33% more than hit the market in the 52nd week of the year in 2023. This is probably related to when the holiday hits on the day of the week. The thing to keep an eye on is that each week in December, we had much more “normal” levels of new listings each week.

These are unsold new listings. There’s another set of sellers that we call “immediate sales.” These are the houses that get listed and take offers immediately after listing. They don’t ever add to the active inventory as they’re already sold. When we include these new listings, there were 21% more sellers than a year ago. 

We’ve been averaging 8% more sellers each week. There were only 5,000 immediate sales this week. That’s the fewest since we started measuring this phenomenon during the pandemic. Again, it’s the holidays, so there’s a lot of noise around the day of the week that Christmas and New Year’s fall so. Keep an eye on the new listings counts as we round into the first quarter of 2025. It could be that the shortage of sellers is finally abating. 

Total pendings increase

When we look at sales volumes, there are 269,000 single-family homes under contract. That’s 4.25% more than where we ended 2023. It’s the end of the year, so there are 8% fewer homes under contract now than from the week before Christmas. This is the week of the New Year’s holiday, so we’ll have one more week of declining home sales before the January uptick begins. 

This chart is of the total count of single-family homes under contract. Each line is a year. The red lines are 2024 and 2023, which had very few home sales, that that’s just starting to increase. At the left end of the chart you can see that 2025 is starting just above the previous years. These are contracts pending, so these are sales that will close in January. 

There are 30% fewer home sales in process than at the start of 2022 when the pandemic frenzy was still underway. Still you can see why we’re forecasting 2025 to have 5% sales growth over 2024

It’s going to be fascinating to watch home sales next month. How sensitive are homebuyers to 7% mortgage rates and this latest affordability punch? Do we lose all of the sales momentum that we’ve seen lately?

The new pendings average is down to 44,000, the recent four weeks includes both Christmas week and the late Thanksgiving week this year. Still the week new pendings average is only 1.3% above last year. Keep your eyes on the pendings data. I remain optimistic that we’ll see some sales growth in 2025.

Home prices lead to the affordability challenge

Let’s move on to home prices and the affordability challenge. Nationally, home prices are starting 2025 at $395,000 which is 4% higher than a year ago. If you follow the Altos Research data each week, this won’t surprise you. Even when home sales are low, when inventory of unsold homes is building around the country, and when affordability is at crisis levels — home prices have not fallen. In fact, they’re inching up. 

In this view we have the median price of all the homes in contract. The red line from 2024 across the top shows how prices cluster right at the big round numbers, in this case, $400,000 for most of the year. 

It turns out that due to a huge number of factors, including seller psychology and legal and tax reasons, it’s rare that home prices fall year over year. This view shows us 2022, when after the pandemic mortgage rates spiked way up — higher and faster than anyone anticipated.

The important lesson from the data is that while affordability is the paramount issue for homebuyers, we haven’t seen any signal that the price of homes will correct down.

Price reductions higher than in Q1 2024

Finally, let’s look at the leading indicators for home prices as we start 2025. There are currently 36% of the homes on the market that have taken a price cut from the original list price. That’s more than we started 2024, which indicates slightly weaker supply-demand balance than a year ago. There are 27% more homes on the market, and only 4% more sales, so you can see why slightly more sellers are trying a price reduction than a year ago. 

Still, this number is not tremendously high. It’ll keep falling this spring with fresh inventory and new buyers for the next few months. If mortgage rates stay over 7% that’ll keep a lid on buyer demand and some of those sellers won’t get the offers they were hoping for. Buyers are perfectly happy to wait, while sellers have to act. 

These price reductions are a leading indicator for future sales prices. The number is elevated now, and with 7% mortgage rates to start 2025, we’re going to see right here how much home buyers care about this affordability hit.

Read more at Housingwire

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As Featured in West + Main Home Magazine: Laundry Room Makeover

 

West + Main agent Steph Christianson

That tile gave the room a
whole new personality.
— Steph Christianson

When West + Main agent Steph Christianson set out to remodel her laundry room, she didn’t just settle for a functional space—she turned it into a bold, eye-catching extension of her home’s personality. Inspired by the dark blue cabinetry in her adjacent kitchen, Steph brought the same pop of color into her laundry room, adding depth and drama to a space often overlooked. She invested about $10,000 to achieve the look, including new cabinets, countertops, a farmhouse sink, fresh tile, and a new light fixture.

The standout feature? The stunning patterned tile she chose from The Tile Shop. “It was definitely a splurge, but totally worth it,” Steph says. “That tile gave the room a whole new personality.”

Steph’s design process started with sketches on graph paper, which she took to her favorite local cabinet company for conversion into CAD drawings. “I made a few tweaks with their help, but the final result turned out exactly as I’d planned,” she shares. The new layout, combined with the height and color of the cabinets, brings a dramatic, moody vibe to the small space.

What started as a laundry room makeover led to some unexpected surprises—like a mini garage revamp! “I knew I’d reuse my old laundry cabinets in the garage, but adding a shiplap feature wall and butcher block workbench were last-minute decisions,” she says. “And I’m so glad I did! Who knew a garage could be such a fun design space?”

For those considering a remodel, Steph’s biggest piece of advice is to start with inspiration. “Make a mood board on Pinterest or Canva, and start narrowing down your favorite designs,” she suggests. “And be open to DIY projects or finding affordable dupes to stretch your budget.”

With the laundry room complete, Steph is already diving into her next project—a full basement remodel with some budget-savvy tricks up her sleeve. For her, it’s all about creating spaces that feel personal, stylish, and fun.

 

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