The original BeachChatter discusses the housing market in the coastal communities south of the city of Los Angeles. Some articles are peculiar to a single city. Some discuss the region as a whole. The focus is on privately owned housing.
This show is SOLD OUT! To be put on the waitlist, call the Grand Annex (310) 833-4813 by 6:00pm Friday, 3/28. Placement on the waitlist does not guarantee a ticket.
LA-based Blues legend returns with his signature picking style learned from masters like Lightnin’ Hopkins and Mance Lipscomb. Joined by an array of Blues artists including Ray Bailey and Mo Beeks.
Spotlight on Singer-Songwriters presented with Wonder & Awe Productions
Hosted by Brenda Carsey who performs with Kid Lightning, Joseph Eid and pop-folk artist Madison Malone – whose credits include lyrics for Celine Dion and soundtracks for General Hospital and ABC’s 20/20.
Grand Vision and Wonder & Awe Productions collaborated to put this Spotlight Series line-up together through a generous grant from the Live Music Society.
Gathering for the Grand: WOODSTOCK Peace Love & Music Party
Limited tickets may still be available, call the Grand Vision office at (310)833-4813 if you would like to purchase tickets to the 2025 Gathering for the Grand Gala.
The 16th Annual Gathering for the Grand Gala will be on April 12, 2025 at the Palos Verdes Golf Club. Together, we’ll toast to the next exciting phase of renovations at the historic Warner Grand Theatre and celebrate fifteen incredible years of concerts at the Grand Annex Music Hall. The theme is: WOODSTOCK A Peace, Love & Music Party. At the gala, we will be honoring Andy Hill & Renee Safier and they will perform a full set of music with their band, Hard Rain! Enjoy groovy drinks and dance to the iconic music of Woodstock.
Paul Givant Marigold Record Release Concert Opener: Mary Scholz
Paul Givant is the frontman, songwriter and founder of the Americana folk-rock band Rose’s Pawn Shop. He tours nationally and internationally with the group at festivals, theaters and clubs.
Since 2018, he has been writing solo records, through which he processes life’s highs, lows and complexities. Inspired by the sounds of 1970s folk rock, his new record Marigold is a deeply personal story of growth. Listen to the first single from Marigold, “Tripping On the Moon.”
FRI, APR 18 & 25 @ 7:00PM — 10:00PM Brews Hall Del Amo, 21770 Del Amo Circle East, Torrance, CA 90503
Andy & Renee & Hard Rain-The Lighthouse
SUN, APR 20 & May 4 @ 2:00PM — 5:00PM The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254 310 376-9833
Andy & Renee & Hard Rain & Friends- Dylanfest 35
SUN, MAY 11, 2025 @ 12:00PM — 8:00PM Torino Plaza, Torrance Cultural Arts Center, 3330 Civic Center Drive, Torrance, CA 90503
A full day of nothing but Bob Dylan music, performed by 50-60 Los Angeles musicians, with never a repeated song! Tickets on sale NOW!!
Andy & Renee & Hard Rain-The Grand Annex
FRI, JUN 27, 2025 @ 8:00PM The Grand Annex, 434 W. 6th St., San Pedro, CA 90731. Featuring the music of Jackson Browne and Lucinda Williams. Get Tickets at https://grandvision.org/event/andy-renee-hard-rain-2/
Andy & Renee & Hard Rain-Torrance Summer Concert Series
SAT, JUL 5, 2025 Wilson Park, 2200 Crenshaw Blvd., Torrance, CA 90501
Andy & Renee & Hard Rain-Malaga Cove Library Park Concert
WED, JUL 9 @ 6:30PM Malaga Cove Library Park, 2400 Via Campesina, Palos Verdes Estates, CA
LEED stands for “Leadership in Energy and Environmental Design,” and is a certification system originally developed by the U.S. Green Building Council but now used worldwide to promote energy-efficient, eco-friendly construction. The LEED standards prioritize energy and water efficiency, improved indoor air quality and sustainable building materials, and reduced carbon emissions.
Buildings can be awarded a rating of either “certified,” “silver certified,” “gold certified” or “platinum certified.” Points are earned by incorporating sustainable features such as proper insulation, high-efficiency appliances, nontoxic materials and water-saving fixtures. You can earn points whether you’re building from the ground up or making renovations, so you should continue to pay attention to LEED guidelines even if you aren’t building new to potentially achieve an official certification.
Beyond being a smart choice for the planet, a LEED-certified home offers long-term financial benefits. The lower energy and water consumption of a certified home leads to reduced utility bills, and homes with LEED certification also tend to have higher resale value. As buyers become increasingly eco-conscious, these kinds of sustainable living spaces are more in demand than ever.
Since summer of 2023, South Bay real estate has been erratic, inexplicable and highly inflationary. Both the sales volume and the median price jump up, and then down, and then up again with no apparent rationale. For example, the number homes sold in the Beach cities was up 29% in December, down 40% in January and up 70% in February. Over the same months, the median price in the the Beach cities went up 9%, up 30%, and down 7%. Those are huge jumps, and with contrary indicators.
Some of that crazy action made sense during the pandemic, but post-pandemic, where the economy should be leveling out, all the numbers should be moving in the same direction, consistently.
The number of homes sold should be on the increase constantly until 2027/2028, as sales stabilize following the out-sized impact of the low pandemic-era interest rates. Those low interest rates caused a sizable percentage of future buyers to step up to the plate earlier than they would have normally. Those buyers will not be back in the market for another four to five years, at the earliest.
The median price of those homes should be increasing in line with the Federal Reserve target of 2%. The fact that they are increasing one month and dropping the next indicates a dysfunctional market. The degree to which prices and sales are bouncing around indicates an out-of-control economy.
Why is this a problem? The list price of your house is determined by recent sales. When the recent sales are all over the map, your broker is hard-pressed to get your asking price correct.
Typically, we try to provide some sort of a forecast for the coming months. Unfortunately, the fundamentals are not lining up in any direction right now. Maybe next month.
Beach: Sales Up, Prices Down
The number of February home sales in the Beach area jumped to 109, 70% above those of January. At the same time the median price dropped 7%, ending at $2,180,000.
Compared to last year, February sales were up 42%, with an annual increase in the median price of 23%.
Year to date, sales of homes rose 34% versus the first two months of 2024. Median prices for the same period increased by 27%.
Harbor: Sales Up, Prices Up
On a monthly basis, sales volume in the Harbor area jumped by 12%, ending with 273 homes sold in February. Median prices for the Harbor climbed 1%, reaching $760,000 for the month.
While year over year sales volume was up by 14% for February, the annual median price at the Harbor dropped 4%. This marks the first annual decline in median price at the Harbor since 2023. Economic volatility has created a lot of wide monthly swings, but the variances annually have been more restrained.
Compared to the first two months of 2024, the number of homes sold increased by 12%, despite negative sales volume in January. Median prices fell by 2% for the same period.
Hill: Sales Up, Prices Up
From January to February sales of home on the Palos Verdes Peninsula increased by 44%, from 32 to 46 units. That jump was accompanied by an 8% growth in the median price, matching the 8% increase of last month. The February median price came in at $2,047,000.
Comparing February sales this year to those of last year shows a 28% rise in the number of homes sold. Likewise, the median price climbed 16% from last February.
Looking at year to date for 2025 versus 2024, sales volume is flat at 78 homes sold for the two month period. In the same time frame, median prices have shot up by 11%, clearly an inflationary statistic.
Inland: Sales Up, Prices Flat
February home sales in the Inland area hit a total of 103 properties, registering an 18% increase in volume over the prior month. The median price for February came in at $900,000, exactly the same as January.
Looking back to last February shows a 10% increase in the number of homes sold, along with a 4% rise in the median price.
Combined home sales for January and February of 2025 surpassed sales of 2024 by 18%. The median price went up by 2% for the same period.
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
A covenant is a binding contractual agreement between two parties to do or not to do a specified act. Covenants are usually enforceable by the courts if they are reasonable, clear, definite and lawful.
A breach of covenant is the failure to obey a previously agreed-upon legal arrangement that was created honestly and in good faith. When one party to a contract refuses to uphold their obligation as spelled out in that covenant, that party is in breach.
In real estate, a breach of covenant most often occurs when a buyer or seller backs out of a contract to buy or sell a home. A breach can also occur when either individual fails to perform any of the terms of a purchase contract. Breaching a contract should be taken seriously. The party who has suffered from the breach usually has recourse in a court of law, where the legal remedy could result in monetary damages being awarded.
Back in 2022, California suffered a series of wildfires. The response from the government was to require proof from homeowners that the structure met current fire safety guidelines, including a five-foot ‘defensible space’ surrounding the structure where no combustible materials should be present. Unfortunately, the recent fires in California have proven that simply requiring proof of meeting existing guidelines wasn’t enough. Our fire safety needs to improve, and with that come seven new methods of fire hardening. While these aren’t legally mandated, they are certainly recommended and your homeowner insurance may start to require them.
Three of the new recommendations focus on the defensible space. In addition to avoiding placing or building using combustible materials within a five-foot defensible space, such materials or vegetation also should not be placed underneath decks. The defensible space should also be extended vertically as well as horizontally, to six inches underneath the exterior surface of the building. Additional buildings should not be constructed using combustible materials within 30 feet of the main structure, if the lot is large enough to build them farther away. The remaining four recommendations are specific materials or upgrades: a Class-A Fire Rated Roof, enclosed eaves, fire-resistant vents, and multi-pane windows.
This coming Tuesday we are ending the year with a big bang and not a whimper! Two exceptional vocal groups – Barley (doing a rare acoustic set), and the talented women from JAKL! They are very different musical groups and styles, but equally cool! Perfect for a rocking cool Yule night of reckless abandon! I’ll be playing a set of mostly new songs and even a holiday song from a few years back!
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.
Barley
Since 2010, Barley has been an unstoppable musical force in South Bay Los Angeles.
You may have seen Barley opening for such acts as Toad the Wet Sprocket, Colin Hay, Vertical Horizon, Iron Butterfly, Robbie Krieger of the Doors, or many, many others.
Barley can also be found performing at some of Southern California’s largest festivals, including Beach Life, KAABOO, Concerts on the Beach, Music on the Meadows, Fiesta Hermosa, and hundreds of other stages big and small.
Jakl
JaKL, (Jaynee Thorne, Karen Tobin, Leslie Barker) The Los Angeles-based singer/songwriters with numerous recording credits, have joined forces, talents, songs, and harmonies to create a compelling vocal blend. Their sound is acoustic, organic, and unique. Their well-crafted original songs, as well as choice selections from other esteemed writers, involve the listener in their meticulous arrangements and this labor of love…
On the heels of an encouraging October real estate market, November saw the South Bay market plummet into the red. Compared to last month the number of homes sold fell by nearly 30%, while the median price collapsed at the Beach and on the Hill. At the same time, the Inland and Harbor areas showed modest growth in median price, posting a 2% gain in both areas.
This was a surprising downturn following across the board sales growth in the October market, accompanied by generally positive price appreciation.
Looking at year over year, same month sales provides a slightly more positive result. Both the Beach and the Hill show the number of homes sold down by 3% and 13% respectively. The Harbor area maintained sales growth of 2% while the Inland area increased by 4%. Both areas were off substantially from the 20-30% increases of October.
Year over year median prices were equally depressed. The Beach and the Hill, the high end of the South Bay market, both lost ground in the single digits. The Harbor and Inland areas, which make up the bulk of sales in the South Bay, grew at 4% and 5% respectively.
It’s too early to attribute this shift to the election results because most of the transactions closing escrow in November would have been negotiated in October. If anything, the decline reflects nervous anticipation leading up to the election. December sales will provide a much more definitive indication of how the public has reacted to the election results.
For right now we know that current sales volumes are running about 10% below December of 2023. And, we know that December last year was lower than December 2019 by 30%. Back at the end of October conditions seemed to be improving, but today it would seem we are still trying to climb out of the Covid trough.
Beach: Sales Off 35% for November
The number of homes sold in the Beach Cities dropped from 127 in October to 83 in November showing a 35% decline for the month. At the same time the median sales price dropped from $1.9M in October to $1.65M in November for a loss of 13%.
On an annual basis sales volume was off by 3% compared to last November, while the median price was flat.
Year to date, 1,059 Beach homes have been sold compared to 1007 during the first 11 months of 2023. This is a 5% increase in the number of homes sold. The median price rose 7% from $1,675,000 last year to $1,787,500 year to date.
Harbor: Sales Fall 26% in November
Harbor area home sales plunged 26% from October, dropping to 256 units from 345 sold last month. At the same time the median price climbed 2%, to $787,500 from $775,000.
On the flip side, same month, last year sales moved the opposite direction, rising 2% this year compared to 252 homes sold in November of 2023. The median price this November was up 4% over the $760,500 recorded in November of last year.
With only one month remaining in the year, the Harbor area displays modest increases in both the number of homes sold so far this year and the median price of those homes. Annual sales have reached 3,160 to date, 3% higher than last year’s 3,076. Median prices for the year have climbed from $740,000 last year to $780,000 this year.
Hill: Market Drops 39% for the Month
Home sales on the Palos Verde Peninsula dove down 39% from October to November, wiping out all but 1% of last month’s gain. As mentioned in the October issue, during the last quarter of 2023 mortgage interest rates were hitting around 8%, which drove the South Bay market to a standstill. The fact 2024 sales volume is falling below 2023 is a concerning matter. Interest rates are once again pushing up against 8%, which has been an impenetrable barrier in recent years. While the number of homes sold dropped precipitously, the median price came in with only a 6% decline, falling from $1,914,500,in October to $1,805,000 in November.
Comparing November of 2023 to November this year turned up a steep fall again. This year brought a sales volume decrease of 13% accompanied by another 7% drop in the median price.
As 2024 heads for closure, the dramatic swings of earlier in the year are mellowing out. Through November, the 597 sales on the Hill have settled in at just 1% above last year. Similarly, the median price, which has ranged from an increase of 26% to a decrease of 15% throughout the year, is coming in at 3%, or $1,927,500.
Inland: Home Sales Collapse by 22%
November sales of 111 homes in the Inland area totaled a 22% drop from the 143 sold in October, rounding out a total decline of 28% for South Bay real estate this month versus last month. Despite the fall in month to month sales volume, the Inland area enjoyed a 2% increase in median price over October.
Same month last year sales increased by 4%, moving up from 107 units in 2023. At $895,000, the median price for November Inland area homes was up by 5% over the $851,000 of last year.
Looking at year to date sales volume of 1,313 shows a mere 1% increase over January-November of 2023 when 1,302 homes sold. Median price fared higher, with a 3% jump from $867,500 to $895,000 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
Gift giving often comes with a lot of waste. A significant amount of this is the wrapping paper or gift bags, but the gifts themselves can also generate a lot of waste. Fortunately, there are ways to mitigate this without making your gift any less meaningful.
Your gift doesn’t have to be a physical object at all. Consider gifting an “experience” instead: for example, a day out at the theater to a show you know they’ll love, a pass for a museum, or dance lessons. Or, simply take time off work to be with them, or offer to help them so they can use their added free time as they wish.
For those who appreciate practicality or aren’t big on surprises, there are some additional options. Talk to your loved ones. Ask them what they want or need. It won’t be a surprise when they get it, but you’ll know it’s something they truly want. Plus, you don’t need to wrap it if they already know what it is. If your friends or family have bills piling up or a debt they’d like to be able to settle, just offer to pay it for them. But just in case they still like the gift giving nature of the holidays, try to purchase more sustainably. A good way to do this is to buy used or secondhand items. The stigma around secondhand items or regifting doesn’t really need to exist, especially if it’s something that you know the person who’s receiving it will appreciate.
Though much of California doesn’t experience temperatures below freezing, winter is noticeably cooler than the rest of the year even in the most temperate areas of the state. So regardless of where you live, you may want to conserve heat in the cooler months. The easiest and fastest way to do this is by turning on the heater, but it’s most certainly not the most energy efficient way. It’s also easy to combine multiple methods.
There are a couple of cheap and relatively easy options. One is to reseal your doors and windows. Over time, the caulk and weatherstripping around doors and windows may begin to degrade. This may seem like a minor issue, but even small cracks or holes can result in heat loss. Make sure to replace damaged weatherstripping or recaulk. The other is to purchase thermal curtains. Thermal curtains are not particularly expensive, and are effective at trapping heat inside. This is especially the case if you don’t have dual-pane windows.
Some options cost nothing at all. An option that many people never think of is to change the direction of ceiling fans. Many people with ceiling fans are aware that they can go both directions, but most don’t realize that a low-speed clockwise rotation will push warm air down from the ceiling to which it has naturally risen. Closing the doors in rooms that aren’t in use also helps, by reducing the space in which warm air is distributed. However, this is more effective if you are already using a heating system. The last option is passive solar heating. This refers to opening curtains during the day, when the sun is shining into the home and raising the ambient temperature, and closing them at night to trap the heat inside. Thermal curtains can certainly help with this, but any curtains will do.
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.
Year
Homes Sold
2019
7,100
2020
8,581
2021
10,279
2022
7,616
2023
6,481
2024proj
6,636
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
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.
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.
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.
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.
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.
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.”
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.
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.
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.
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.
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
