Negotiating Repairs Or Credits

As a prospective buyer, if you see something about a property you’d want to fix or replace, you’ll probably want to negotiate repairs or credits with the seller. The question is whether you want the seller to manage the repairs or you to manage the repairs. Neither choice is inherently better or worse, but certain circumstances or goals may cause you to opt for one or the other.

When buyers opt to negotiate repairs, the primary reason is that they simply don’t want to deal with it, and would prefer for it to already be finished by the time they move in. This is certainly a valid reason, but there may actually be a more important one. Many — though not all — loans require the property to meet a minimum standard of condition, and if the property falls short, you’ll need the repairs to be done before the sale is finalized if you don’t want the loan to be rejected. You should check your loan requirements before making a decision.

The most common reason for asking the seller for credit is that the changes the buyer wants are either minor or subjective. Minor repairs will still take time and delay the sale process if the buyer asks for the seller to take care of them. Repainting or choosing colors or materials are updates that require the new owner’s oversight, so it doesn’t make sense to put it in the hands of the seller. If your loan will allow it, you may even want credit for major repairs. This could be because you want more agency in the process, you have the skill to repair it yourself, or you’re on a time constraint and don’t want to delay the sale.

Photo by Milivoj Kuhar on Unsplash

Next at the Grand Annex

MUSTANGS OF THE WEST

Friday, September 13 / 8 PM

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

TICKETS

DAVID ROBERT POLLOCK

Variety Hour

Saturday, September 14 / 8 PM

Modern folk singer-songwriter David Robert Pollock (formerly DCR Pollock) returns to the Annex to premiere his new, “David Robert Pollock Variety Hour,” featuring guest appearances by talent from across the LA music scene.

TICKETS

DEJA VU

A Musical Retrospective of CSNY

Sunday, September 22 / 4 PM

Immerse yourself in classic ’70s folk-rock with faithful renditions from the songbook of Crosby, Stills, Nash & Young – hear “Teach Your Children,” “Helpless,” “Suite Judy Blue Eyes,” “Love the One You’re With” and more.

TICKETS

John Jorgenson Bluegrass Band

Friday, October 4 / 8 PM

John Jorgenson returns, 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.

TICKETS

Andy & Renee Live & On Tour

Andy & Renee-The Lighthouse

TUESDAYS THRU AUG 1, then resuming SEP 3@ 5:30PM — 7:30PM The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254

Andy & Renee-Banana Leaf

THURSDAYS, July 11, 18, AUG 1 @ 6:30PM — 9:00PM Banana Leaf & Beach Cities Social, 1408 S Pacific Coast Hwy, Redondo Beach, CA 90277

Andy & Renee Livestream #234

Friday, June 12th, 6pm PDT.

Watch live or anytime at Watch live or anytime at https://youtube.com/live/5F9HlkoQwJg?feature=share. Come watch the show in person at our studio! 17411 Delia Ave., Torrance, CA 90504. LIMITED SEATING, so RSVP now to reneesafier@hotmail.com. Please arrive no earlier than 5:45p. Show will start at 6pm. For the online viewer, the Livestream shows are free to watch, but the option to contribute is there for those who are in a position to do so. You can see our song list to make requests and contribute at https://andyandrenee.com/tickets-tips-merch, PayPal (paypal.me/andyandrenee) or Venmo, (www.venmo.com/Renee-Safier). A portion of the proceeds will go to the Los Angeles Midnight Mission. We are sustained by the generosity and support of the fans who love the music, and who donate as they are able. If you use funds from your bank vs. your credit card, we aren’t charged a service fee, but either way, we appreciate your support!

Andy & Renee-House Concert Hosted by Diane Stahl and Steve Reinhardt-Denver, CO

Saturday, August 3rd – 5-9 pm

Home Of Diane Stahl & Steve Reinhardt, 870 South Clarkson, Denver, CO 80209

Doors 5pm — Concert 6pm Diane Stahl & Steve Reinhardt 870 South Clarkson Denver 80209 Seating is limited to 50 – Reserve your seats now! You don’t want to miss this fabulous musical experience! $20 requested for musicians. Drinks provided. Please bring your favorite dish to share. Get tickets at https://andyandrenee.com/tickets-tips-merch (scroll down to house concert)

Andy & Renee-House Concert, Priest Lake, ID

SAT, AUG 10 @ 5:00PM Home of The Songstad’s, 632 Hagman Road, Nordman ID 83848

Hosted by the Foley/Lyman/Songstad’s. Details TBA

Andy & Renee-The Hill’s Resort, Priest Lake, ID

WED, AUG 14 @ 6:00PM The Hills Resort, 4777 W LAKESHORE RD., PRIEST LAKE, IDAHO 83856

Andy & Renee-Moose Knuckle- Coolin, ID

FRI, AUG 16 @ 6:00PM Moose Knuckle, 10 Cavanaugh Bay Road, Coolin, ID 83821

Andy & Renee-House Concert/Livestream-Portland, OR

MON, Aug. 26th Doors 6:30, Show 7pm PDT. Co-hosted by Bob Boyle and Larry & Janet. 15555 SE Riverforest Dr., Oak Grove, OR 97267. $20 requested for musicians.

Andy & Renee-The Station House, Auburn, CA

FRI & SAT, AUG 30 & 31 @ 7:00PM — 10:00PM Station Public House, 750 Lincoln Way St.100, Auburn, CA 95603

Pro Songwriters’ Showcase – July

PROJECT BARLEY BREWERY, 2308 Pacific Coast Hwy, , Lomita CA 90717
Tue, Jul 16 @ 7:00PM — 9:00PM

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: RICK SHEA, TONY GILKYSON, BRIAN WHELAN

RICK SHEA

Longtime Southern California singer-songwriter Rick Shea got his early musical education in the bars and honky-tonks of San Bernardino where he grew up. With ten critically acclaimed albums, he’s performed all over Southern California, the West Coast, the US and in Europe, and built a solid career for himself as a solo artist, singer, guitarist and songwriter. Shea’s songs reflect the folk, country, rock and Mexican influences he grew up with. “Songs tell our stories and our history and songs were how those stories were shared in the past, I like to continue that tradition.”

60 miles east of Los Angeles where the urban sprawl starts to thin out and the desert starts to take over sits the old railroad town of San Bernardino. Shea says, “Growing up there were a dozen or more honky-tonks and truck stop bars on the outskirts. They were kind tough places but as a sideman and singer I could work 6 – 7 nights a week. That’s where I first heard a lot of those old songs – Merle Haggard, Lefty Frizzell and Buck Owens – every night.”

Shea’s recently released album Love & Desperation has gained a lot of praise as have his earlier albums. He is a deeply evocative singer and a formidable guitarist who doubles on steel guitar and mandolin. On his songwriting influences Shea says, “When I was younger Merle Haggard cast a long shadow, but since then Dave Alvin, Jim Ringer and a lot of other music has found its way in.”

If your tastes run toward hard working, literate, back 40 folkies like Tom Russell, Chuck Pyle, Jimmie Dale Gilmore and others like that, Shea is sure to be another that you’re going to dig. With a very personal edge to his writing and singing, this is classic folkie/troubadour stuff that cuts right to the chase and delivers moves that others can only turn into clichés. Check it out, it’s the real deal. – Chris Spector MIDWEST RECORD

A hauntingly nostalgic vocalist, imperative guitarist and literate, detail-rich songwriter, do yourself a favor. – Gary von Tersch, Sing Out

TONY GILKYSON

Born in Hollywood and raised in an environment of musicians, songwriter–guitarist Tony Gilkyson originally started recording as a boy with his father, Terry Gilkyson, a composer for Walt Disney and a prominent folksinger/songwriter in his own right. Artists he has played and recorded with include Lone Justice, John Coinman, Jake LaBotz, Ray Wiley Hubbard, Bob Neuwirth, Sam Phillips, Duke McVinnie, Jimmie Dale Gilmore, Peter Rowan, Larry Hosford, Rick Shea, Dave Alvin, Kip Boardman, Alice Cooper, Bob Dylan, Kris Kristofferson, K.D. Lang, Mark Olsen, Shane MacGowan, Ramsey Midwood, Mike Stinson, The Spoolies, Randy Weeks and Kathleen Wilhoite. He has produced recordings for sister Eliza Gilkyson and Dances with Wolves author and poet Michael Blake. With Tom Waits, he co-produced Chuck E. Weiss’s albums Extremely Cool and Old Souls & Wolf Tickets. In 2003 he produced the acclaimed Country for True Lovers by Eleni Mandell. He also has played guitar on numerous film sound tracks including the Johnny Cash biopic Walk the Line, as well as The Big Lebowski, Don’t Come Knockin’ and All the King’ s Men, with producer T Bone Burnett.

BRIAN WHELAN

There’s nothing wrong with Americana. ​Brian Whelan’s refrain on the opening track of ​Sugarland ​immediately lets you know what the singer, songwriter, producer, sideman, and all-around utility savant is all about. The song is cheeky, fast, and pulls no punches. There’s plenty of façade in Whelan’s Los Angeles, but that’s not what he’s here for. He’s here for the tunes.

If you’re a frequenter of the Cinema Bar in Culver City, no doubt you know the name Brian Whelan. As a young musician with half a boot still in USC’s music program, Whelan found the bar, found his people, and found his scene. Further down the line, you’ve come across him shredding GOE Sundays at The Echo in Echo Park, singing originals that gets the packed room dancing as much as the covers he slays.

But the name was really made playing with country, rock, and Americana stars, such as Houston’s own Mike Stinson, Nashville roots godfather Jim Lauderdale, and Los Angeles rocker Chris Shiflett. Whelan put his unmistakable mark on the national scene as the prolific sideman behind urban cowboy Dwight Yoakam, playing guitar, keys, pedal steel, and anything else that was required or requested. From budding fan to established keystone, Whelan is now at the center of that Los Angeles Americana scene he discovered years ago.

Perhaps the most interesting quality in Whelan is the one not hidden, but bleeding through every second of the 33-minute ​Sugarland​: earnestness. It’s a trait Los Angeles is bereft of; a town that wrings the optimism out of every heartland kid with an eye on the screen or a guitar in the trunk of that car that carried them west. The driving guitar riffs, the soaring vocals, and the love-fueled lyrics that define Whelan’s solo songwriting endeavors aren’t contrived; they don’t come from a flavor of the week proclamation on pitchfork or the current Coachella lineup. Brian Whelan can do a lot of things, but there are two things he won’t do – boring and bullshit.

JODI SIEGEL

Jodi Siegel, originally from Chicago, IL, is a singer, songwriter and guitarist. Over the years Jodi has opened for and or shared the stage with many respected musicians including: Albert King, Robben Ford, Robert Cray, J.D. Souther, David Lindley, Fred Tacket and Paul Barrere (Little Feat) and countless others. Her songs have been recorded by Maria Muldaur, Marcia Ball, Tommy Ridgley and Teresa James.

She has recorded two CD’S; Stepping Stone and her latest CD, “Wild Hearts,” produced by Steve Postell (Immediate Family, David Crosby, Eric Johnson, Robben Ford, Iain Matthews), is filled with great songs, cool grooves, intimate, smart lyrics and some of the best of the best musicians in Los Angeles today including; Mike Finnigan (organ, piano), Hutch Hutchinson, Abe Laborial Sr., Alphonso Johnson (bass), Russ Kunkel, Michael Jerome Moore, John Ferraro, Arno Lucas (drums, percussion), Joe Sublett (Saxophone) and Maxayne Lewis and Clydene Jackson (background vocals). Each song has a soulful delivery with an undeniable down-home elegance. It has received great reviews by Patrick Simmons (Doobie Brothers), Maria Muldaur, Walter Trout, David Mansfield (T Bone Burnett), Leland Sklar, Mike Finnigan and Doug Macleod to name a few.

South Bay Housing Prices Up, Sales Down

Median prices for real estate around the Los Angeles South Bay have risen over 40% since 2019, the year before the corona-virus pandemic. Comparing the median prices and sales activity for the first half of 2024 shows increases approaching 50% for the five year period in all areas across the South Bay.

Over the same time period, sales volume has plummeted by 22%, falling from 4,022 in 2019 to 3,149 in 2024. The Beach cities have been particularly hard hit with a 34% drop in the number of homes sold during the first six months of the year.

Looking at 2024 versus 2023 shows a similar pattern with median prices up nearly 10% from the first half of last year. The Beach area showed the lowest increases, coming in at 5% above the 2023 median.

Sales volume was off by 2% across the area with the only positive being the Beach at a mere 1% above 2023 numbers. As the 2024 year has progressed, the number of sales has declined in total. Simultaneously, more and more parts of the South Bay have fallen into negative growth.

As of the end of June, 2024 sales figures for all areas were negative in comparison to June of 2023. While the number of homes sold has consistently declined through the first half of the year, median prices have been equally persistent at increasing over last year. Most experts are attributing the increasing prices and decreasing sales to the shift from an ultra-low mortgage interest rate during the pandemic, to a comparatively high rate currently.

When rates were at the lowest, many homeowners took advantage of the opportunity to refinance at the incredible rates. Those folks are now in a position where they would incur a painful increase in monthly living costs if they were to move. That has resulted in about a 40% reduction in the number of homes typically available on the Multiple Listing Services (MLSs).

At the same time, the increased mortgage interest rates have pushed a significant number of potential sellers out of the market because they no longer qualify for the loan they would need to trade up to a larger or newer home. That reduced the available inventory of resale homes even further and became another contributing factor to the bidding wars among the few buyers still in the market.

Beach: Down 18% in Sales May to June

Monthly sales volume fell from 110 units in May to 90 homes in June, for an 18% drop. Median price jumped 10% in one month to end at $1,917,500.

Year over year, the number of homes sold declined from 124 in June of last year to 90 this year for a loss of 27%. Median price for the Beach climbed 11% over the year.

Year to date for the first half of 2024 versus the first six months of 2023 shows a modest increase of 1% in sales volume along with a increase of 5% in median price.

Harbor: June Median Price Off by 6%

The Harbor area was the outlier for June. While month over month sales collapsed and pricing jumped for the other three areas, Harbor sales of 342 homes boosted sales by 19%, coming in well above the 288 homes sold in May. Meanwhile, median price went the other direction, dropping from $848K in May to $799,900 in June, for a decline of 6%.

Year over year statistics went the opposite direction, following the rest of the South Bay. Sales volume fell by 3%, dropping from 124 in 2023 to 90 in June of this year. Meanwhile the median price was up 4% for the year, rising from $772,000 last June to nearly $800,000 this year.

The first six months of 2024 brought a year to date sales drop of 4%. The median price in the same period climbed 9%.

Short term changes, as from month to month, have been unpredictable since the pandemic. Looking at the longer term, there is consistency in the declining sales volume and increasing median price. With 2024 a presidential election year, it will be interesting to see how long this direction holds.

Hill: Year Over Year Sales Fell 24%

With a reputation for wildly shifting statistics, the Palos Verdes Peninsula came in with relatively modest decline of 9% from May sales. Similarly, the increase in median price was very tempered at only 3%.

The sales volume for same month last year was anything but mild. June of 2023 reported 79 homes sold versus 60 homes in June of 2024. That’s a 24% drop in volume from last year. While a fourth of the 2023 sales disappeared, the median price eked out a 1% increase, going from $2,000,000 last June to $2,912,500 in June of 2024.

In what is becoming a familiar trend, the year to date sales volume is down 2%, and the median price for the first six months of the year is up 7%.

Inland: June 2024 Sales Drop 24% From 2023

The Inland area showed the smallest month to month change of the South Bay. The 4% drop in sales volume from 128 homes sold in May to 123 in June was minor. Likewise the 1% increase in median price from $945,000 to $955,000.

Like the Hill, the Inland area had a radical drop in sales from June of 2023 to June of 2024. Falling from 161 homes sold last June to 123 sold this June resulted in a 24% drop in transactions. Median price in the same period rose 9%, from $875,000 to $955,000.

Interestingly, there has been no statistically significant change in the sales volume for the first six months of the 2023 and 2024 years. It actually increased by three units from 669 homes sold in 2023 to 672 homes sold in the first half of 2024. For the same time periods, the median price climbed by 6%.

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 Montemalaga Sunset by Carl Clark

How To Deal With Summer Pests

For many people, summer is supposed to be the ideal time to relax. Unfortunately, summer also comes with a few annoyances — namely, pests and overbearing heat. Fortunately, if they’re dealt with effectively, you can still enjoy your summer.

Different types of bugs have different living conditions. That can make it hard to cover for every single type, but it becomes easier if you know why they’re coming. Dealing with fruit flies and dust mites can be made easier by simply cleaning, but there are also more specific things you can do. Fruit flies are attracted to overripe fruits, and dust mites like high humidity. There’s also a trick for mosquitoes — they can’t fly well in windy weather, so you can use fans as a substitute to deter them.

As for the stifling heat, it may be that some rooms are hotter than others. In fact, this is probably the case even if your AC isn’t on — but it’s especially the case if your AC is on and there’s a problem with it. Your ducts may not be properly sealed, or the fan may not be working right. If applicable, direct more cool air to upstairs areas, since the heat rises. The heat can also cause issues for doors, as heat and humidity can cause wood to expand. This could make your doors stick or jam. You may need to adjust weather stripping, or possibly even shave the door down.

Photo by Ainsley Myles on Unsplash

What Type Of Roof Is Best For You?

Obviously, a roof is a very important thing to have. After all, the term “a roof over your head” is often used to represent the entire house. But most people only consider whether or not their roof is in good condition. They don’t think about what kind of roof best suits their needs.

Different roofing materials have different advantages. Which is right for you depends which factors are most important to you. Are you looking for something durable that will last a long time? Try metal or slate roofing. Metal roofing is increasing in popularity due to its longevity and customizability options, but slate roofs do last a fair bit longer, and are still considered visually appealing despite a lack of color options. Do you just want the most cost-effective option? Look no further than asphalt shingles, which are one of the cheapest roofing materials and can be replaced individually if damaged, rather than replacing the entire roof. Perhaps you’re into energy efficiency and eco-friendliness? Wood shingles and shakes can be sustainably sourced and have natural insulation, and tile roofs are energy efficient as well, while also resisting weather conditions, fire, rot, and insects and coming in a variety of colors and patterns.

Photo by Jack Price-Burns on Unsplash

Which Factors Most Influence Home Values?

There are a significant number of factors that could potentially affect what your home is worth. It can sometimes be hard to pinpoint exactly how much buyers are likely to be willing to pay, even for experts. This is especially true in a changing economic climate. However, there are a few factors that can give a pretty good idea of a home’s value.

The first thing an agent will look at to determine a home’s value is recent sales of similar properties in the same or a similar area. This is called a comparative market analysis (CMA), and is the primary method of predicting home values. Unless the economy is particularly unstable, a home similar to yours in a similar area that sold recently probably sold for approximately as much as your home is worth. Looking at currently listed properties can help, but it’s looking at actual sales that is more valuable, because you know at least one buyer definitely was willing to pay that much, otherwise the sale would not have happened.

The reason CMAs look at specifically the same or similar areas is that prices vary extremely widely by neighborhood. Schools, shopping centers, public transportation and recreational facilities can significantly enhance a home’s desirability. On the other hand, high crime rates or noise pollution may detract from a property’s appeal. And it’s important to note that a similar area doesn’t necessarily mean a nearby area. Neighboring communities could be vastly different from one another, but there could be another neighborhood a bit farther away that has more features in common.

But the research isn’t done as soon as a CMA is complete. It may be difficult to find exact matches for your property, particularly when the market is slow. Granted, if you live in tract housing, this can be slightly easier — but only if other properties in the same tract have been sold recently. To combat this, agents adjust the value to account for differences between the comparative properties and your own property. This can include age of the property, condition, and upgrades, as well as property size, lot size, and features.

Photo by Jakub Żerdzicki on Unsplash

New California Law Reduces Security Deposits

Much of the consideration for renting over buying comes from the lower initial cost. However, with quickly rising rents and increasing access to financial assistance especially for first-time homebuyers, that gap is closing somewhat. AB 12, which went into effect at the beginning of July, seeks to lessen the upfront cost burden on renters.

Under AB 12, no landlord can charge a security deposit greater than two months’ rent, and in some cases, it’s limited to one month’s rent. The one month limit applies to landlords who own either more than two rental properties or more than four units, as well as when the tenant is a military service member. In all other cases, the limit is two months. Unlike prior law, whether the unit is furnished or not is not taken into account.

What remains to be seen is how easily this law can be enforced, particularly whether landlords adhere to the one month or two month limit. Previously, the difference was whether the unit was furnished or not, something that could be easily confirmed or denied. However, landlords are under no obligation to reveal to tenants how many properties or units they own in total. Moreover, since a landlord can refer to either a person or a limited liability corporation, it’s possible to put properties managed by the same landlord under different names. There may be protections in place for tenants who discover a landlord attempting to sneak by this rule, but they may have a hard time proving it.

More: https://www.ocregister.com/2024/07/01/rental-security-deposits-in-california-cut-substantially-under-new-law/

Photo by Hebert Marchesi on Unsplash