This is an annual exercise. What went well? What went off the rails? And what, had I possessed even a shred of foresight, could have been handled better?

As I ponder these things, my mind inevitably wanders back to when I was young. Perhaps the Ghost of Christmas Past has already finished making the rounds this year and decided to circle back.

I linger over the memory of a past fireplace, a 1970 built wood-burning practicality existing in a less than modest house. There was no mantle to dress up or distract; after all, it existed for the purpose of warmth — and only when wood to burn was available. The surface of this wide mouthed pit was permanently mottled, as was the once-white brick that surrounded it. Years of overambitious fires that burned unattended or too hot left a permanent scar.

I fast forward years later, long after I’d left the house, to the moment my mother attempted to erase those scars with copious amounts of white shoe polish, all in the name of getting the place ready to sell. Not a tip I share with my own clients.

In my childhood home, the chimney, during the summer, was used for the sole purpose of inviting every critter imaginable into our home. This was due to a consistent oversight on who was or was not to close the damper, as well as the lack of a proper cap on the top of the chimney. At least Santa could slide down if there wasn’t a fire burning.

Honestly, during the month of December, chimneys become the unsung heroes of the holiday season. In fact, Santa has his entire business model built on this feature. Minus a chimney, there would be no dramatic rooftop landing and no magical entrance. What would be the use of the reindeer even alighting upon the roof? Can you imagine the traffic if Santa had to haul his sleigh through the rush hour in this town?

Outside of the magical wonderland of Santa mystics however, chimneys play a much bigger role than just seasonal folklore. They sit at the crossroads of insurance, home inspections and real estate transactions. Even if Santa was the one who caused the brick to crumble due to the supersized cookies he is fed, it is still the homeowner’s problem when something goes wrong.

From Santa’s perspective, a chimney simply needs to exist and not be on fire at the time of entry. Insurance companies take a more thorough approach. Chimneys are one of the most closely watched features of a home because they combine several things insurers dislike: fire, heat, structural penetration through the roof and the potential for long-term water damage. A wood-burning fireplace, while cozy and charming, is statistically one of the higher-risk features a home can have.

Fireplaces are a favorite in listing descriptions — romanticized as cozy, inviting focal points where families gather and cocoa is presumably sipped. Then the inspections begin, and that same fireplace, once the star of the show, clears its throat and starts confessing decades of questionable decisions, quickly repositioning itself as the seller’s most inconvenient feature. Phrases like, “cracked flue liner,” “missing chimney cap,” “deteriorating mortar,” “improper clearance,” or “evidence of prior chimney fire,” can cause sellers some serious heartburn (as can too much eggnog).

Suddenly deals are put on hold as everyone waits on quotes that are sure to come in higher than hoped. While Santa may never ask for repair credit, buyers almost always do.

This is the part where real estate and insurance usually clash. Since you can’t close without homeowners’ insurance, and insurers usually flag chimney dangers as uninsurable, something must give. Either the repair must be done before closing, or the deal falls apart. Of course, the buyer can shop around for new insurance carriers; however they are all pretty much playing by the same rules. Insurance underwriters don’t like vintage chimneys, even if Norman Rockwell does.

Trust me, I’ve seen it. “But the fireplace is strictly decorative.” Unfortunately, this is more of an interpretation, and both inspectors and insurers are more objective-type people. If a chimney exists and isn’t fully decommissioned, it is often still considered a risk. This means it needs to be properly capped, sealed if unused, and structurally sound. Nothing should be scratching, chirping, fluttering, scurrying or otherwise announcing itself from inside a chimney. A chimney is designed to vent smoke, not host wildlife.

From a resale standpoint, a well-maintained chimney can be a genuine asset. It adds character, charm and seasonal appeal. In colder markets especially, a functional and documented fireplace can help a home stand out. But neglected chimneys tend to do the opposite. They introduce uncertainty, cost, and hesitation, all things buyers don’t love when they’re already making the biggest purchase of their lives. And for the record, white shoe polish fades fast.

Jen Fischer is an associate broker and Realtor. She can be reached at 801-645-2134 or jen@jen-fischer.com.