Live Music at the Annex for the Holidays

Pickle and Her Big Band

Saturday, December 7 / 8 PM

Lead singer and drag queen Pickle with her 9-piece Big Band perform American Songbook classics and contemporary pop songs from k.d. lang to Katy Perry.

Pickle, LA’s premier singing drag queen and host, will be performing her very first drag holiday show with her 12-piece big band! A Los Angeles native, she started playing dress-up as a child and got into the drag sphere as a student at Hamilton High School Academy of Music. She began establishing her drag identity and artistry at Sarah Lawrence College, where she received her BA in Liberal Arts. TICKETS

New Years Eve Celebration with Andy. Renee and Hard Rain

South Bay folk-rockers return with hits from across the decades. Includes late-night pizza, party favors and a champagne toast to start off 2025!

Andy Hill and Renee Safier with their band Hard Rain have been referred to as “America’s best kept secret.” Performing over 200 shows a year, the band delivers a style of Americana folk-rock that’s thoughtful, musical, danceable and full of memorable hooks.

Andy & Renee – Live Music for the Holidays

Upcoming Shows:

Andy & Renee-The Lighthouse

TUESDAYS @ 5:30PM — 7:30PM The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254 310 376-9833, Hermosa Beach, CA 90254

Andy & Renee & Hard Rain-Thanksgiving Event at the Midnight Mission

THU, NOV 28. To volunteer, go to https://www.midnightmission.org/get-involved/volunteer/

Andy & Renee & Marty Rifkin- Holiday Cookie House ConcertSOLD OUT!

SUN, DEC 1 @ 5:00PM Home of Renee Safier & Patrick Summar

Andy & Renee-Terranea Lobby Bar

FRI, DEC 13 @ 7:00PM — 11:00PM Terranea Lobby Bar, 100 Terranea Way, Rancho Palos Verdes, CA 90275

Andy & Renee & Hard Rain-The Lighthouse

SUN, DEC 29th @ 2:00PM — 5:00PM The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254 310 376-9833, Hermosa Beach, CA 90254

Andy & Renee & Hard Rain-New Year’s Eve Party

TUE, DEC 31 @ 8:00PM The Grand Annex, 434 W. 6th St., San Pedro, CA 90731. Get tickets and info at https://grandvision.org/event/andy-renee-hard-rain-new-years-party/

South Bay Real Estate Leveling Off

It looks like the real estate market is finally climbing out of the Covid trough. Each passing month this year has shown red ink, mostly on sales volume, and a lot on median price as well. October brought some relief in that the number of homes sold is up in every area, and median prices are only down in half the South Bay.

The number of South Bay homes changing hands has varied considerably since 2019. Sales staggered briefly after the spring shutdown in 2020, then recovered mid-year as the interest rate continued down. Rock bottom interest rates pulled in buyers and homes flew off the market with bidding wars. In the final quarter of 2022 sales plummeted and the buying spree ended.

YearHomes Sold
20197,100
20208,581
202110,279
20227,616
20236,481
2024proj6,636

If this is indeed the beginning of a normal real estate market again, it’s possible to see reaching the pre-pandemic sales volume in 2025, but more likely in 2026.

The median price is another story. Interest rates were hovering around 3.5% in spring of 2020. The Federal Reserve opened the money spigot to keep the economy flowing while everyone was locked down. For about 15 months mortgage interest rates were below 3%. Historical data sourced from Freddie Mac shows that rates dropped below 4% starting in June of 2019 and lasting until March of 2022. Nearly three years of sub 4% rates makes the current +/-7% a significant deterrent to buying a new home or trading up.

During that period, buyers took advantage of the low rates to boost their offering prices for homes, creating a sellers’ market and bidding wars. The median price sky-rocketed in 2021 and continued through the first of the next year. In summer of 2022, median prices started falling and dropped until late in 2023. Across the board, median prices have been modestly positive since the beginning of 2024.

Certainly it’s all relative, and the market is adjusting, both on the side of higher prices and higher interest rates. But, with today’s median prices roughly 40% above 2019, the number of buyers who can qualify for the necessary loan is way down. A 2024 Q3 estimate from the California Association of Realtors shows only 15% of households in Los Angeles County can afford the median priced home. That compares to 56% in 2012, which leaves a lot of buyers on the sidelines.

The election is over and the incoming administration is clearly pro-corporate. Over the next couple months the dynamics of the shifting markets will become clearer. By the new year we should have a better understanding of the impact to our local real estate. As of October, declines are leveling off and sales are starting to pick up.

Beach: YTD Sales Up 6%, Prices Up 7%

The number of homes sold in the Beach cities increased by 11% in October, rising from 114 in September to 127. The median price of Beach properties went up from $1,790,000 to $1,900,000, a 6% jump in monthly figures.

Annually, October this year showed a whopping 61% increase in sales over October of 2023, climbing to 127 homes this year versus 79 last year. Over the same one year span, the median price rose 19%.

In view of the huge increase, it’s important to note that October of 2023 is the month mortgage interest rates started toying with 8%, which the buying public simply wasn’t accepting. While lenders and the Fed worked to lower rates, real estate was “in the tank” for last quarter of the year. After the beginning of 2025 the year over year percentages should level out.

January through October, the number of homes sold this year hit 976, 6% more than were sold in the same time period of 2023. Median price at the Beach climbed to $1,788,750 for a 7% increase over last year.

Harbor: YTD Sales Up 3%, Prices Up 4%

October sales in the Harbor area came in at 345 homes for a 9% increase over September. The median price was $775,000, up 2% from the prior month.

Looking at year over year for the same month, this October showed a 29% improvement over the 267 homes sold last year. As noted earlier, home sales took a significant drop in the last quarter of 2023 due to mortgage interest rate hikes. The year over year median price was a much more reasonable 3% increase.

For the first ten months of the year, sales volume has gone up by 3%, to a total of 2,904 homes sold. Over the same period, the median price has jumped up 5% to $778,500.

Hill: YTD Sales Up 2%, Prices Up 5%

On the PV Peninsula, October sales outpaced September by 40%, coming in with 66 homes sold versus 47 the preceding month. It’s important to remember that the Palos Verdes market is the smallest of the South Bay, so a handful of transactions can make a huge difference in either, the sales volume or the median price. The steep increase in sales was accompanied by a more modest increase of 13% in median price, ending the month at $1,914,000.

Comparing October to the same month last year reveals a 5% boost to the number of homes sold. On the other hand, the median price took a fall, dropping by 2%.

Year to date, home sales on the Hill have increased 2%, from 544 in 2023 to 557 this year. For the same ten months, the median price went up 5% to $1,938,750.

Inland: YTD Sales Up 1%, Prices Up 2%

Home sales in the Inland area have been stable, with an increase of 12% in the number of transactions, from 128 properties sold in September to 143 in October. A 1% drop in the median price from last month to this brought the median down from $882,500 to $875,000.

Annual sales in October of this year ended 23% higher than October of 2023. The median price, going the opposite direction, fell 5% from $917,000 last year.

Continuing the relatively modest numbers, the Inland area has risen 1% in the number of homes sold year to date, The 1202 sales reported so far, compare to 1195 sold in 2023. Similarly, the median price is up 2%, having risen from $871,250 last year to $891,245 this year.

Beach=Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo
Harbor=Carson, Long Beach, San Pedro, Wilmington, Harbor City
PV Hill=Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates
Inland=Torrance, Lomita, Gardena

Photo by Corey Buckley on Unsplash

How To Decide On The Right Home Security Option For You

There’s a wide range of surveillance systems that can improve your home security. Not all of them will be the right fit for every situation or homeowner. There are lower cost and higher cost options, and some require more or less technical know-how. You also always have the option to hire a professional installer if you need help.

Besides simply not having any security at all, the lowest cost option is a fake security camera. These won’t record anything, but may act as a deterrent. They’re also easy to install. If you want some actual recorded evidence, but don’t want to spend too much, wired cameras are the way to go. It’s difficult to move them once they’re installed, and the wire is a liability, but they don’t cost as much as wireless security systems and you probably won’t need a professional to install them. Wireless security systems are more flexible, but will need a bit of technical savvy to make the most of their features.

There are also some options adapted to specific uses, as well as packages geared towards different levels of technical knowledge. Night-vision cameras use infrared to monitor conditions in low light, though the images will be in black and white. Some advanced cameras may have both daytime and night-vision modes. Covert cameras are mainly for indoor use, as they can be hidden inside the home to keep an eye on the situation while you are away. These can be useful if you have a babysitter or housekeeper. If you don’t have much knowledge of security cameras, there are plug-and-play home surveillance camera kits you can purchase that have everything you need to get started along with an instruction manual, and are available for both wired and wireless systems. For those with some more expertise, there are advanced products available, such as quad processors that allow you to network camera systems, remote monitoring tools, DVR recorders, and other accessories.

Photo by Josh Shaw on Unsplash

Six Important Things To Look For When Viewing A Home

When viewing a potential new home, it’s important to look past the surface and spot any hidden issues to make an informed decision. Here are six key things to keep an eye on.

Prioritize the things you can’t change easily. It’s easy to be distracted by the current residents’ taste in decor, but focus on the layout, light and space instead. Remember, you can change paint colors and furniture, but structural elements are much harder to fix.

Check for water damage. Look closely at ceilings and walls and under sinks for any signs of water damage, such as stains, peeling paint or black mold. These can indicate leaks, plumbing issues or damp problems that could lead to costly repairs later.

Inspect for cracks. Small hairline cracks can be harmless, but larger or zigzagging cracks could signal serious structural problems. Check around windows, doors and the foundation for any significant damage.

Test the windows. Make sure windows open and close smoothly and check for drafts, condensation or fog between double panes. Poor window conditions can lead to energy inefficiency and higher heating bills.

Sniff out strange smells. Unusual smells, such as mustiness or sewage, can indicate hidden problems such as mold or drainage issues. Be sure to ask about any odors that seem off.

Assess storage space. Don’t forget to evaluate the storage available. Open closets, check for attic or basement access, and ensure there’s enough space for your belongings.

Photo by Ali Hajian on Unsplash

Take Full Advantage of Open Houses

If you’re looking to buy a new home, open houses can provide you with many opportunities to make your new-home hunt more fruitful. You can learn about the sellers, the neighborhood and the details of the home. If you’re able to, try to time your visit for when there are very few lookers roaming through the house. In a hot market, an open house may be the only time to see a property.

Any time you’re going to an open house, you’re looking at the home. You should also be learning, though, not just looking. Walking through a home will help determine what amenities you can afford at a certain price. You can make market comparisons by visiting several open houses.

Don’t just pay attention to the home itself. Be tuned in to the conversations of other visitors, and you will benefit from the insight of others about the home and the neighborhood. If you can get one-on-one time with the listing agent, find out all you can about the seller and the motivation behind selling the house.

The home’s surroundings are also important. Get to know a prospective neighborhood by taking a walk through it. You will be able to see the pride of ownership, learn the traffic patterns and find out more from meeting some of the neighbors.

Photo by Behnam Norouzi on Unsplash

Live Music at the Grand Annex

Taylor Made Tapestry

Sat, Nov 09, 2024,
Doors at 7:00 PM
Music at 8:00 PM
Tickets

In November of 2007, Carole King and James Taylor performed at the Troubadour in honor of its 50th anniversary. The concert was a reunion of the two artists, who performed regularly together at the West Hollywood rock club in the early ‘70s.

Honoring the legacy of both performers and their legendary musical collaboration, Stephen Bock of the stellar James Taylor tribute band Taylor Made joins forces with Carla Buffa of the popular Southern California Carole King tribute band Sweet Seasons.

Windy Sings Whitney & Wine Tasting🍷

Sat, Nov 16, 2024
Doors at 7:00 PM
Music at 8:00 PM
Tickets

Chicago native and our very own San Pedro local, Windy Barnes returns to the Annex to grace the stage with the music of Whitney Houston, followed by a full set of some of the best songs of the 1970s.

Zepparella

Fri, Nov 22, 2024
Doors at 7:00 PM
Music at 8:00 PM
Tickets

Experience the classic rock of Led Zeppelin in the intimate setting of the Grand Annex. “To be able to get swallowed up by these songs in a smaller venue is where the power is,” says Clementine, Zepparella’s founder and drummer.

Hear favorites like “Dazed and Confused” and “Whole Lotta Love” and less often covered songs like “The Rover.”

Kyshona

Sat, Nov 23, 2024
Doors at 7:00 PM
Music at 8:00 PM
Tickets

Kyshona blends blues, soul, rock and folk to express uplifting themes of hope and empowerment. Her 2024 album Legacy is a moving musical manifestation of her own genealogical research, incorporating choir performances and sermons from her family archive. The Boston Globe and The Tennessean have praised how Legacy plays with various genres originating in early African American history to call back to and honor Kyshona’s ancestors.

Risks And Regulations Concerning Lead Poisoning

One may think that with advances in infrastructure and healthcare, lead poisoning is a thing of the past. That’s not quite true, especially given the potential age of some homes. Lead-based paint was quite popular prior to 1978, and may still be present in homes built before then. That was less than fifty years ago, and homes can last quite some time, so there are still a lot of homes built before 1978.

That’s why there are regulations in place. Federal law mandates three specific actions when selling a home built before 1978. One is disclosure obligations. The seller must provide any information they are aware of regarding the use of lead-based paint in their home, including any test result and abatement efforts. The second is a required form in the contract that outlines information about lead-based paint. Finally, buyers will have up to ten days to conduct a lead inspection or risk assessment. In anything is found, this will be necessary for their repair or mitigation negotiations.

You may also be wondering what exactly lead poisoning looks like. The symptoms can differ between children and adults, and are much more severe for children. In either case, they occur due to exposure over a period of months or years. In children, lead poisoning can affect brain development, leading to slowed growth, learning disabilities, or behavioral issues. It can also cause hearing problems. In adults, lead poisoning can result in high blood pressure, muscle and joint pain, digestive issues, and problems with memory or concentration.

Photo by Girl with red hat on Unsplash

Live Music – Andy & Renee and Hard Rain

The Lighthouse

30 Pier Avenue,
Hermosa Beach, CA 90254
310-376-9833

Andy & Renee play as a duo every Tuesday from 5:30pm to 7:30pm.

Andy & Renee and the full Hard Rain band will perform Sunday, Oct 27th and Dec 29th  from 2:00pm to 5:00pm.

Banana Leaf & Beach Cities Social House

1408 S Pacific Coast Highway,
Redondo Beach, CA 90277

Andy & Renee play every Thursday from 6:30pm to 9:00pm, October performances are scheduled for Thursday, Oct 10, 17, 24, & 31 from 6:30pm to 9:00pm

Terranea Lobby Bar

100 Terranea Way,
Rancho Palos Verdes, CA 90275

Andy & Renee will perform as a duo on Saturday, Oct 19 and on Monday Oct 28 from 7:00pm to 11:00pm

King Harbor Yacht Club

200 Yacht Club Way,
Redondo Beach, CA 90277

Andy & Renee will perform as a duo for a Members Only party Friday, October 25th, 6:00pm to 9:00pm.

Holiday Cookie House Concert

Andy & Renee accompanied by Marty Rifkin on the pedal steel perform at this annual event. In addition to the music, and the typical buffet, there will be generous helpings of Renee’s homemade cookies!

Sunday, Dec 1 @ 5:00pm at the home of Renee Safier & Patrick Summar, 516 N. Francisca Ave., Unit C, Redondo Beach, CA 90277

Tickets available soon!

New Year’s Eve Party with Hard Rain

You don’t want to miss Andy & Renee and the Hard Rain Band for this New Year’s Eve extravaganza. An evening of music and merriment at the Grand Annex with champagne for all!

Tuesday,, Dec 31 @ 8:00pm at The Grand Annex, 434 W. 6th St., San Pedro, CA 90731.

Tickets and info at https://grandvision.org/event/andy-renee-hard-rain-new-years-party/

What To Bring On Closing Day

The most important part of purchasing a home is closing day, when the official transfer of ownership takes place. If you are prepared, it should go smoothly. However, one missing document means a failed or postponed closing, so review your closing documents ahead of time. Closing day will involve executing the paperwork, paying any required fees, and ultimately getting the keys to your new home. Plan on having your ID, evidence of homeowner’s insurance and your closing cost funds. If you are not sure about anything, ask your agent or make a call to the closing office.

There are also a few things you should make sure to do ahead of time that don’t involve bringing a physical object. Confirm the closing fees before you arrive, and have any questions for your lender answered. Prior to the closing meeting, review the seller’s responsibilities and make sure they have been satisfied. Your agent can provide you with the final completion documentation for any seller obligations. If you pay attention to these details and all is in order, you should be able to walk away with keys in hand.

Photo by Jakub Żerdzicki on Unsplash

South Bay Home Sales Flat on Rising Prices

At the end of the third quarter for the real estate market in the Los Angeles South Bay, 4,958 homes have sold, compared to 4,959 sold during the same period in 2023. Essentially, that is 0% growth. Median prices, however, have climbed over 5%, despite the high interest rates.

Sales activity across the South Bay was mixed, though in a narrow range. The Inland area saw 2% fewer home sales on a year to date basis than last year. At the same time, the Palos Verdes Peninsula gained 2% over 2023. The Beach area was up 1%, while the Harbor area came in flat.

Median prices during the first nine months of the year recovered the losses of the same period in 2023. Last year, median prices fell nearly every month from January through September, only beginning to recover growth in September. This year the median price has shown a strong increase since the beginning, ranging from 4% for the Inland area to 8% for the homes on the Hill. The Beach and Harbor areas rose with 7% and 6% respectively.

It looks like this winter is going to continue the wild ride. The Federal Reserve lowered the prime interest rate by half a point in September. Then, after a positive employment report for September, mortgage lenders raised their advertised rates back up to where they were in mid-August! The national election will undoubtedly have it’s own impact, even here in our relatively placid part of the world.

Among the early market indicators which may give us a hint of where the market is headed, one not commonly discussed is the number of homes which don’t sell. The comparison is established by looking at the number of home listings which are expired, cancelled or withdrawn from the market versus those which closed escrow. During the first three quarters of 2024, out of 6,179 homes on the market, 4,958 of those sold. At the same time, 1,221 or, 20% of the total, failed to sell. These percentages are not significantly different than a normal year.

In a high turn-over market such as that of 2021, at best one might expect as little as 12% to not sell versus a slow-moving market where one might expect as much as 25% to fall off the market unsold. It would be fair to say the local market for real estate is languishing, but it appears to remain afloat despite volatile news in all corners of the world. The next issue of this newsletter will arrive after the national elections. There should be more to talk about then.

Beach: Sales Lag and Prices Leap

With 114 homes sold in September, the Beach Area sales jumped up 21% above August figures. The median price likewise took a 5% leap to $1,790,000 in monthly sales.

Comparing September 2024 home sales to the same month in 2023 reveals a less dramatic shift. The number of homes sold is 6% greater this year and the median price increased by 7%.

Year to date sales volume of 849 homes at the Beach showed a modest 1% increase over the first nine months of 2023. Monthly variations have been as high as 33% and as low as -27% during the first three quarters making the cumulative 1% value a bit of a surprise. Equally surprising in light of the 1% growth in the number of homes sold, is the 7% increase in median price to $1,787,500 for the same period of time.

Harbor: Sales Slow, Median Prices Up

Monthly sales in the Harbor area totaled 317 units in September, a 9% increase over the number sold in August. At the same time, the median price for Harbor area homes dropped 3% to $760,000.

Looking at year over year sales for the month of September showed a 27% growth in home sales over 2023 and a 2% increase in median price.

During the first three quarters of 2024 2,559 homes were sold in the Harbor area, compared to 2557 last year, registering as a 0% change. The median price for year to date sales came in at $780,000, a 6% increase over the same period in 2023.

Hill: Plenty of Red Ink

August was a particularly busy month in Palos Verdes real estate, so the 11% drop in sales volume for September was somewhat expected. Falling from 53 homes sold to 47 is a short fall, but the marketplace on the Hill is small, so percentages escalate quickly. The median price also took a nosedive from $2,150,000 to $1,700,000, a 21% drop. Interestingly, those prices are the highest and the lowest in PV for 2024.

September of last year was exceptionally strong on the PV Peninsula, both in terms of sales volume and price. As such, the relatively anemic sales of September 2024 brought lots of red ink. The number of homes sold fell by 16%, while the median price came down 13%

Year to date, PV has had five positive months and four negative months. Cumulatively, the Hill has a 2% increase in the number of homes sold, going from 481 last year to 491 this year. During the same nine months, the median price moved up 8% ending at $1,950,000 for the period.

Inland: Mixed Results on YTD Activity

Month to month home sales in the Inland area were modestly positive. With 128 units sold in September, the volume was up 9% from August activity. The median price gained 1%, coming in at $882,500 for the month.

Comparing September of 2023 to this September brings a 2% decline in the number of homes sold. The median price for the same comparison also dropped 2%.

The first nine months of the year arrived with 2% fewer sales than the same period last year. The Inland area was the only part of the South Bay to fall in sales volume or median price so far in 2024. Year to date the median price rose 4% above 2023, to $899,990 the slowest growth of the South Bay areas.

Beach=Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo
Harbor=Carson, Long Beach, San Pedro, Wilmington, Harbor City
PV Hill=Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates
Inland=Torrance, Lomita, Gardena

Photo by Rachel Cook on Unsplash

How To Make Your Home Presentable On A Time Constraint

Whether it’s for guests, a house viewing or anything else, when you’re short on time and need to get your home looking presentable quickly, it’s all about prioritizing and simplifying. This is even easier if there are other people to assist you, and you are able to delegate tasks.

Prioritize high-traffic areas. This includes the living room, kitchen, and entryway, but most importantly, the bathroom. It’s often the most frequently used room by guests and the most off-putting when dirty, so it’s a top priority. Wipe down the sink, faucet and countertops and scrub the toilet. Replace the hand towel with a fresh one and empty the trash if needed. If you’re really short on time, use disinfectant wipes for speed. Unless you’re showing your home, there are probably rooms your guests won’t enter, such as bedrooms or home offices. If you don’t have time to clean them, just close the doors.

The next thing to do is remove clutter. A cluttered floor and tables makes any room feel messy. Even if you have an organization scheme in place, your guests don’t need to see all your personal items. Grab a basket and collect any things out in the open so they can be temporarily stored out of the way. This can be any number of unrelated things, such as toys, shoes, or paperwork, as long as they’re safely out of the way. You can deal with sorting it later.

There’s another way to quickly make your home feel more inviting that doesn’t involve cleaning at all. Light a candle or spray a fresh scent. It only takes a minute and creates a more welcoming atmosphere.

Photo by Humairah L. on Unsplash

Why August Home Sales Look So Bad

Monthly sales of homes across the South Bay dropped an average of 15% in August, with volume falling off as much 27% on the Hill and 20% at the Beach. Annual sales volume was likewise down by 15%. But, it’s really not all that bad. August saw a confluence of unique events making sales volume look more depressed than it really was.

At least three factors played into the numbers. July of this year showed very elevated sales compared to earlier months in 2024 and compared to August. That brought the line down for August.

Then, August was a particularly strong month for sales in 2023, which made this year’s more average numbers look like a slippage.

Added to those mathematical twists is contemporary psychology. The Fed is widely expected to drop the interest rates in September, so buyers are standing back, waiting an extra month or so to save dollars and/or buy more house.

The year to date sales volume tells a truer story. Home sales across the South Bay are off 1% from 2023. The percentages range from -3% in the Harbor area to 4% on the Hill. Generally speaking, sales this year have come in fits and starts with the up and down movement balancing out for the year to date.

As one would expect, median prices were down from this July, though not quite as dramatically as the drop in sales would imply. The median moved up 8% in PV, while the other areas dropped roughly 10%. (It’s worth noting that the low volume of business on the Hill gives rise to highly variable statistics.)

Looking back to August of last year, shows a much tamer comparison to the change in median price. The increase ranges from 1% at the Beach to 4% in the Harbor, with PV–the frequent outlier–at a 26% increase in the median.

With eight months of data now available, the year to date median price is beginning to show moderation from the highs of earlier this year. The Beach and Inland areas are at a 6% increase over last year, while the Harbor area is at 8% and Palos Verdes is showing 11%. If lower mortgage interest rates materialize, that could boost both sales volume and median prices this fall. At the same time, the hotly contested presidential election may keep a lid on the market until winter.

Beach: Not a Good Month

Showing only 94 homes sold for the month of August, the Beach cities took a 20% dive from July sales volume. At the same time, the median price dropped 9% for the month to $1,7M.

Topping the 20% fall from July, year over year August sales were off a whopping 26% from July of 2023. Median prices, on the other hand, rose a modest 1% over the same month last year.

As mentioned earlier, the year to date numbers are more indicative of where the current market is headed. The number of homes sold for the first two thirds of the year registered positive (barely–with a 0.13% increase). Over the same period of time, the median price at the Beach has risen 6%.

The falling sales volume coupled with the increasing median price is fallout from the troubling economic issues that arrived concurrent with the pandemic. Much of the developed world was on the precipice of a recession when the pandemic occurred. The response to the medical threat pushed the financial danger to the side and now we’re looking at the aftermath of all those events.

Harbor: Mostly Down

The Harbor area looked very much like the Beach in August, albeit with slightly less dramatic swings. On sales of 290 homes, the month over month volume dropped 8%. That matched exactly an 8% decline in the median price from July transactions.

Comparing to the same month last year, Harbor area homes sales dropped off by 12% from July last year. The decline was accompanied by a 4% increase in median price from July of 2023.

Year to date statistics for the Harbor area came in more constrained than the month to month and year over year numbers. For the first eight months of the year, the number of homes sold slipped by 3%, while the median price escalated by 8%.

Hill: Looking Up

Sellers on the Hill created some radically varied numbers in August. The number of homes sold fell from July even more than at the Beach, coming in at a mere 53 units, for a 27% decline in sales volume. But, those buyers pushed the median price up to $2.15M for a 7% increase while the rest of the South Bay fell by as much as 13%.

The numbers look even better when comparing August sales to the same month last year. Sales volume was up 8% over August of 2023. Median price was up a shocking 26% over last year. A more detailed look shows August was the lowest median price of the year, after February.

Once again, the year to date perspective offers the calmest view of the real estate market. Through August, residential sales were up 4% over the same period in 2023. Median price was up 11%.

Inland: More Down Than Up

Following the trend line, the Inland area moved down from July. Sales volume fell 18% to 117 homes. Concurrently, the median price dropped 13% to $875K.

The number of sales fell by 21% from August of last year, showing continuing impact from high mortgage interest rates and reduced inventory. As with the rest of the South Bay, many sellers are holding property off the market. Many are waiting for more favorable interest rates for their buyers and on their replacement home. Some took advantage and financed at interest rates below 3% and won’t be back in the market for years.

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Sales from January through August show 2024 down 2% from 2023 in number of homes sold. Median price for the same period reflect an increase of 11%.

What About the Fed?

The Federal Reserve Bank will be meeting later this week to discuss a reduction in the baseline interest rate. Because financial indicators are showing a weakening economic environment, most pundits expect the Fed to approve a drop of .25-.5% from the overnight rate. Most lending institutions have already reduced rates in anticipation of a change. If approved, lenders will hold mortgage interest rates at about where they are positioned today. If not, fixed rates will go back up to about 7%.

Beach=Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo
Harbor=Carson, Long Beach, San Pedro, Wilmington, Harbor City
PV Hill=Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates
Inland=Torrance, Lomita, Gardena

Photo by Pedro Lastra on Unsplash

Andy & Renee and Hard Rain

Andy & Renee-The Lighthouse
TUESDAYS @ 5:30PM — 7:30PM
The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254
310 376-9833

Andy & Renee-Banana Leaf
THU, SEP 12 & 26@ 6:30PM — 9:00PM
Banana Leaf & Beach Cities Social,
1408 S Pacific Coast Hwy, Redondo Beach, CA 90277

Andy & Renee-House Concert -Agoura Hills, CA
MON, SEP 16 @ 7:00PM — 10:00PM
Home of Steve Berman & Sandy Lessner,
4032 Defender Dr., Agoura Hills, CA 91301
Doors-6p, Music 7-10p.
$20 donation requested. Get tickets at https://andyandrenee.com/tickets-tips-merch.
BYOB

Andy & Renee-Belle Epoque
THU, SEP 19 @ 7:00PM — 9:00PM
Belle Epoque,
265 Avenida Del Norte, Redondo Beach, CA 90277
310-316-4302

Andy & Renee-Terranea Lobby Bar
FRI, SEP 20@ 7:00PM — 11:00PM
Terranea Lobby Bar,
100 Terranea Way, Rancho Palos Verdes, CA 90275

Andy & Renee & Hard Rain-Day Of Peace Celebration with Jane Goodall
SAT, SEP 21 @ 10:00AM — 4:00PM
Point Fermin Park, 807 Paseo Del Mar, San Pedro, CA

Celebrating United Nations International Day of Peace & Jane Goodall’s 90th Birthday. Eco Festival, Food Trucks, Parade of Giant Peace Dove Puppets. Band plays 11am-1:30pm, plus a bit afterwards. Bring your beach chair, water bottles & blankets. For parking & Free Shuttle info, go to peacedayla.org.

Andy & Renee & Hard Rain-The Lighthouse
SUN, OCT 27 & DEC 29th @ 2:00PM — 5:00PM
The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254
310 376-9833

Andy & Renee & Hard Rain-New Year’s Eve Party
TUE, DEC 31 @ 8:00PM
The Grand Annex,
434 W. 6th St., San Pedro, CA 90731
Get tickets and info at https://grandvision.org/event/andy-renee-hard-rain-new-years-party/

Jodi Siegel’s Songwriter Showcase for September

This is a once a month (every third Tuesday) show that is designed as a listening room for world class songwriters, many with hit songs, long touring/recording associations with music legends ETC… to play their original music in an intimate setting. NO COVER BUT DONATIONS ARE STRONGLY ENCOURED AND GO TO THE SONGWRITERS. Project Barley serves excellent Food (Gourmet Pizza, wings, sandwiches, salads), wine, and award winning beer. Food served till 8:30pm. No reservations so arrive early to get a table. This month we are proud to present: THE MOJO MONKEYS AND JODI SIEGEL

THE MOJO MONKEYS

Mojo Monkeys is the labor of love of three veteran Los Angeles musicians: Singer/Drummer David Raven, Bassist Taras Prodaniuk and guitarist Billy Watts. Individually, they’ve logged time in the studio or onstage with such notable artists as: Lucinda Williams Keith Richards, Norah Jones, Dwight Yoakam, Bruce Springsteen, Bonnie Raitt, June Carter Cash, Mike Ness, Steve Jones of the Sex Pistols, Dixie Chicks, Geoff Muldaur, John Trudell, Richard Thompson, Jim Lauderdale, Peter Himmelman, Buck Owens, T-Bone Burnett and many, many more. They are the first call A-list session players in Los Angeles, play in multiple local and touring bands and are all at the top of their game! These guys have made multiple records that combine their swampy bluesy rockin’ music with smart lyrics, killer singing and playing…they draw from many sources but sound like no other!

PROJECT BARLEY serves excellent Food (Gourmet Pizza, wings, sandwiches, salads), wine, and award winning beer. Food served till 8:30pm. No reservations so arrive early to get a table. https://projectbarley.com/ 2308 Pacific Coast Hwy, Lomita, CA 90717  

Live at the Grand Annex In September

A 150-seat cabaret venue run by Grand Vision in the heart of San Pedro’s thriving arts district. Enjoy state-of-the-art sound enhancing a unique listening experience, complemented by a commitment to community. Many wonderful restaurants are nearby and beverages are available throughout the show.

T Sisters
& Wine Tasting🍷

Sat, Sep 21, 2024
8:00 PM
Doors 7:00 PM
Tickets

Twins Rachel and Chloe Tietjen and their older sister Erika offer up potent lyricism and catchy melodies from stunning a cappella harmonies to pop to groovy indie folk.

The sisters’ contemporary yet classic sound invites comparisons to modern family bands like the Avett Brothers and First Aid Kit. With their soaring sibling harmonies, sassy stage presence and inventive songwriting, these three sisters bring a soulful take on folk/Americana music.

In 2019, T Sisters participated in American Musicians Abroad, a selective State Department-sponsored program fostering diplomacy through music. The sisters performed and conducted workshops in the Middle East and North Africa emphasizing girls empowerment and the role of music in creating social awareness and change.

Rachel (vox, guitar, banjo), Chloe (vox, percussion) and Erika (vox, guitar) are all songwriters in their own right and switch off on lead vocals. While their voices blend seamlessly, each has a distinct singing and writing style that results in an eclectic repertoire unified by a landscape of close harmonies.

🍷Pre-Concert Wine Tasting
Taste fine wines. Wine Tastings are led by professional sommelier, Jean-Philippe Molinari.

Pre-Concert Wine Tastings are free to Grand Vision members at the Friend, Champion, VIP Circle, Arts Advocate, and Performing Arts Patron level – up to two per household, $16 per person for all others. Concert tickets are required to participate. Members’ tasting tickets must be redeemed in advance. Tastings begin one hour before the show, please arrive no later than 30 minutes into the tasting to participate.

Deja Vu The Music of Crosby, Stills, Nash & Young

Sun, Sep 22, 2024
4:00 PM
Doors 3:00 PM
Tickets

Ray Koukal assumes the role of David Crosby, Steve Elowe takes on the role of Stephen Stills, Jim Wootten steps into the shoes of Graham Nash, and Devitt Feeley embodies the spirit and musicianship of Neil Young.

Together, their dedication to capturing the essence of these rock icons’ sound and performance makes Deja Vu an unmissable experience for fans of this legendary group.

Transport yourself on a nostalgic journey through faithful renditions of CSNY’s iconic hits, including “Teach Your Children,” “Helpless,” “Suite: Judy Blue Eyes,” “Love the One You’re With” and more.

Sean Lane & the Hellhounds

Sat, Sep 28, 2024
8:00 PM
Doors 7:00 PM
Tickets

Delta blues, hill country and driving rock ‘n roll from local master slide guitarist and his power quartet.

Sean Lane is a singer-songwriter who plays solo-acoustic Delta style blues and also fronts a four-piece electric combo. Sean Lane & Hellhounds are a dynamic blues band that aren’t afraid to blend in a little rock. Their sound has been described as “blues on steroids.”

Sean started The Hellhounds as a Delta blues slide guitarist and vocalist, writing original songs in the style of the old Mississippi masters and blending it with the intensity of Blues-Rock. With Sean on lead guitar, Jon Poli on drums, Doug Swanson on bass and Jed Ojeda on rhythm guitar, they are a true Blues-Rock powerhouse. Based out of Los Angeles with roots in the South, The Hellhounds are all about blending old tradition with modern innovation to create. Their music is beyond standard Chicago blues here; it’s raw, powerful, and distinctive.

J2B2 (John Jorgenson Bluegrass Band)
& Wine Tasting🍷

Fri, Oct 04, 2024
8:00 PM
Doors 7:00 PM
Tickets

The John Jorgenson Bluegrass Band (J2B2) showcases impeccable musicianship, incomparable songwriting, incredible harmony vocals and seasoned showmanship. The band combines the “high lonesome sound” of bluegrass with elements of West Coast folk rock and Americana.

https://youtube.com/watch?v=6gb8n0riHCo%3Fsi%3Dm2XX7dJElCnr9QsX

John Jorgenson (acoustic guitar/mandolin/vocals) first came to national attention in the mid ‘80s with successful country-rock act The Desert Rose Band, which he co-founded alongside Chris Hillman and fellow J2B2 member Herb Pedersen. In 2008, Jorgenson won a Grammy for Best Country Instrumental with Brad Paisley and was nominated for Best Bluegrass Album with Earl Scruggs. He has also worked as Elton John’s guitarist and alongside Bonnie Raitt and Bob Dylan.

John Jorgenson returns to the Grand Annex, this time switching his guitar out for a mandolin and bringing his all-star bluegrass supergroup featuring legendary, award-winning musicians: Herb Pedersen, Mark Fain and Patrick Sauber.

Herb Pedersen (banjo/acoustic guitar/vocals) has been a member of over five bands, including The Desert Rose Band, during his sixty-year music career. He has worked on countless film and TV scores, and collaborated with music legends such as Earl Scruggs, Emmylou Harris and Linda Ronstadt.

Mark Fain (bass) is a seven-time Grammy winner who has produced for many artists across the jazz, country, bluegrass and gospel genres; he has also toured and recorded with the Chicks, Alan Jackson, John Fogerty and Dolly Parton.

Patrick Sauber (acoustic guitar/vocals) has toured with Peter Rowan and Laurie Lewis, and appeared on screen in the mockumentary musical “The Mighty Wind.”

🍷Pre-Concert Wine Tasting
Taste fine wines. Wine Tastings are led by professional sommelier, Jean-Philippe Molinari.

Pre-Concert Wine Tastings are free to Grand Vision members at the Friend, Champion, VIP Circle, Arts Advocate, and Performing Arts Patron level – up to two per household, $16 per person for all others. Concert tickets are required to participate. Members’ tasting tickets must be redeemed in advance. Tastings begin one hour before the show, please arrive no later than 30 minutes into the tasting to participate.

Peace Frog The Music of the Doors & Jim Morrison

Sat, Oct 05, 2024
8:00 PM
Doors 7:00 PM
Tickets

https://youtube.com/watch?v=4urLvrMLMJ8%3Fsi%3DUZaElfW4z2wvy9FI

Based out of Venice, California, this highly acclaimed act recreates the magic, intensity, and rock theater of Jim Morrison and The Doors. Mystical and hypnotic, the band transforms any room into an actual Doors concert experience. Lead singer Tony Fernandez lives out every move of Jim Morrison on stage and delivers a powerful recreation of true likeness in his presence, vocals, and spirit.

The four-piece band also includes James Sinigalliono on keyboard and bass, Tyler Thigpen on guitar and Tom Gold on drums. Hear intoxicating renditions of “Hello, I Love You,” “Light My Fire,” “L.A. Woman,” “The End” and many more Doors classics.

Negotiation Tips For Any Situation

As with any sort of business deal, buying or selling a home involves a lot of negotiation. Fortunately, there are techniques to aid in negotiation that apply not just to real estate or business, but nearly any situation, even simple discussions among friends. It even comes with a handy mnemonic: Negotiation expert Jacqueline Twillie has coined the acronym L.A.T.T.E. to help with all your negotiating needs.

L: Look at the details. Making sure you’re fully informed about every detail and potential outcome will help you to decide what decisions you can make.

A: Anticipate the challenges. It’s probably a given that you’ll receive some pushback or have some hurdles to overcome during the conversation. Make sure you’re ready for the kind of questions or resistance you might face while negotiating and have your responses prepared.

T: Think about what you want to walk away with. Be clear in your mind about what you actually want from the negotiation, what you are prepared to be flexible on and which parts of your desired outcome are not up for negotiation. Also, be sure to consider what the other party wants from the conversation for a stronger approach.

T: Talk it through! Practicing talking through your points out loud will help you be confident and collected when it comes to the real thing. You may even find that hearing your points out loud helps you identify where your tone or approach might need to change.

E: Evaluate your options. Before making a final decision, give yourself time to review the outcomes you’ve been offered from the negotiations to make sure it’s what’s best for you.

Photo by Sebastian Herrmann on Unsplash

Why Is California So Much More Expensive Than Most Of The US?

California has always been an expensive place to live, and it’s only getting more and more expensive. The median home price is about 2.5 times higher than the national average, and 11 times the median income. Of course, prices are trending upwards across the nation. Appreciation over time is normal, and has accelerated in the wake of the 2020 pandemic. But these things affect everyone — so why is California specifically so much more expensive?

It’s not just as simple as having higher desirability, although that is certainly the case. The primary issue is a lack of affordable housing. There are multiple reasons for this. California may be the third largest state by area, but it also has the highest population of any state. It’s not among the densest, but it is rather sprawling. There’s just not a lot of open land to build on, particularly land that fits all the various zoning restrictions that are in dire need of updating. However, updating zoning laws is getting pushback from residents. Construction costs are also up. While construction companies typically would rather build multifamily residences, they have to build what’s in demand — which is mainly single-family residences.

In addition, because purchasing a home is so expensive, landlords are better served continuing to rent out their homes and units rather than attempting to sell, even though selling would decrease home prices. This is exacerbated by property tax laws in California. Prop 13 limits the rate at which property taxes can increase until a property exchanges ownership. Therefore, people who have owned a home for a long time can pay very little in property taxes, reducing the likelihood of any sort of market activity.

Photo by Paul Hanaoka on Unsplash

More: https://calmatters.org/explainers/housing-costs-high-california/

Don’t Panic If An Inspection Finds Mold

Prospective homebuyers are prone to backing out immediately if the home inspection uncovers mold. This is usually a hasty response. Some level of mold is, in fact, quite common in homes. Of course, that doesn’t mean you should simply ignore it, but there’s also no need to panic.

Feel free to ask the inspector questions about the mold they found. You’ll want to know how severe the issue is and what the root cause of it is. If the issue is minor, you may even be able to fix it yourself — however, you’ll want to make sure of that beforehand, since mold can hide in places that aren’t visible.

Also, keep in mind that the inspector is neither a mold testing service nor a mold removal service. And yes, these are different things — while a mold removal service often will test for mold, there’s a potential conflict of interest if the same company is both testing for and removing it. If you think you’ll need professionals to deal with the problem, do your research. You’ll also want to know whether your homeowner’s insurance covers mold removal and associated repairs, as policies can differ.

Photo by Jonas Denil on Unsplash

Coming Up At The Grand Annex

A 150-seat cabaret venue run by Grand Vision in the heart of San Pedro’s thriving arts district. Enjoy state-of-the-art sound enhancing a unique listening experience, complemented by a commitment to community. Many wonderful restaurants are nearby and beverages are available throughout the show.

Greenwich Village Coffeehouse
Andy & Renee and Guests

Saturday, September 7, 8 PM
TICKETS

Classic rock and folk hits of NYC’s Greenwich Village. Hear the music of
Bob Dylan, Joan Baez, Pete Seeger and more. With guests Marty Rifkin,
Joel Raphael, Dave Crossland and James Lee Stanley.

Mustangs of the West

Friday, September 13, 8 PM
TICKETS

Trailblazing all-women quintet delivers sparkling, powerful and irresistible Country-Americana!

David Robert Pollock
Variety Hour

Saturday, September 14, 8 PM
TICKETS

Singer-songwriter David Robert Pollock hosts talent from LA’s indie music scene – reminiscent of a ’70s variety series like “The Dean Martin Show” – but with a thrilling, dark comedy twist.

T Sisters and Girl Power

Saturday, September 21, 8 PM
🍷Pre-Concert Wine Tasting 7 PM
TICKETS

With soaring sibling harmonies and their signature sassy stage presence, these sisters sing a combo of Americana, folk and country.

Deja Vu
A Musical Retrospective of CSNY

Sunday, September 22, 4 PM
TICKETS

Immerse yourself in first-class folk-rock with faithful renditions of Crosby, Stills, Nash & Young’s “Teach Your Children,” “Helpless,” “Suite Judy Blue Eyes,” “Love the One You’re With” and more.