Debunking Solar Energy Myths

Solar energy has been growing in popularity in recent years, and there are good reasons for that. Solar energy is highly sustainable, and isn’t subject to fluctuations in the market since the amount of available solar energy is not market-dependent. Some people aren’t convinced though, and that may be the result of some misconceptions.

A big reason people don’t even entertain the idea of solar energy is that they think it’s too expensive. While initial installation can be pricy, the savings over time allows the investment to pay off relatively quickly. This is especially true because utility prices are increasing, and solar panels don’t require utility payments, so your electricity bills may be cut out entirely. There are also government incentives in place that will allow you to offset the initial investment cost. Solar panels do have some maintenance costs, but they’re pretty minimal — just some regular cleaning is generally sufficient.

Others believe solar panels are only effective in warm, sunny weather. A more appropriate statement would be that direct sunlight enhances their efficiency. They still work perfectly fine in cloudy or rainy weather. Also, they actually work better in colder temperatures, not worse. This is because their efficiency is determined by a difference in energy between the photon particles in sunlight and electron particles in the panel — which have lower energy at colder temperatures — not the total amount of energy received. This means a hot, sunny day may result in the same efficiency as a cold, overcast day.

Photo by Gary Cole on Unsplash

Factors In Determining Your Maximum Loan Amount

You might think lenders would need to do a bunch of fancy calculations to determine how much money you can borrow. There are certainly several factors that go into the final calculation, but if you want a rough estimate, it’s actually relatively simple. Lenders tend to use one of two formulas, either mortgage payment as a percentage of gross monthly income, or debt to income ratio.

Both of these factors involve your gross monthly income — that is, the amount you were paid before deductions from social security and taxes and before making any payments or contributing to savings. Where they differ is what your gross monthly income is compared against. The first method calculates what your monthly mortgage payment would be based on actual interest rate and ensures that it doesn’t exceed 28% of your gross monthly income. The debt to income ratio method compares your gross monthly income against your debts, such as credit card debt and other loans. These existing debts plus your new loan payments should not exceed 36% of your gross monthly income. Both these methods do require knowing the interest rate, which is determined by several factors, but if you know about where interest rates are, you can make an educated guess.

Photo by Jeswin Thomas on Unsplash

2023 South Bay Real Estate: Fail

By every measure South Bay real estate failed last year. The volume was down from the prior year in every residential area, the median price fell from 2022 heights everywhere, and the double whammy of crashing sales and falling prices brought the total revenue down from 2022. Judging from early reports the same is true across most of the state.

Part of the story doesn’t read so poorly though. As we look back across the year, the second of half of 2023 was far better than the first half of the year. This in two respects: first, the month-over-month statistics for sales volume have improved. The median price is still falling, but that’s to be expected if we’re going to see a sales volume increase concurrent with continued high interest rates. The market is going to demand that some of the “overly enthusiastic” price increases come back down.

Second, the year-over-year decline in median price is slowing—not reversing—slowing. Roughly speaking, the number of homes sold for less than 2022 prices improved from 83% in the first half of the year to 45% in the second half of 2023. That signifies an approaching balance in the market. Buyers are still holding back, but some sellers are coming forth to meet them.

2024 South Bay Real Estate: Better Days Ahead

We expect to see continued slippage in the median price, accompanied by increased sales volume. The Los Angeles South Bay is somewhat insulated from the vagaries of national and international events, but 2024 is facing an active political climate. The continuing wars around the planet would be enough to rattle economic markets here. This year sellers and buyers also have to factor in a contentious national election.

While the Federal Reserve System is officially apolitical, history has shown a tendency for improved economic conditions during election years. The final quarter of 2023 saw a softening of the wild swings in home sales volume and pricing. With less than 10 months until the presidential elections we anticipate continued easing of interest rates and increased sales activity. Median prices have fallen by about 2% across the South Bay in 2023 and probably won’t drop a lot more in 2024.

Sales volume fell by 15% across the South Bay in 2023. Nearly all of that drop was in the first half of the year. The new year is expected to be positive with growth in sales across the board.

Beach: Strong Sales On Weak Prices

Comparing December to November, the number of homes sold at the Beach was up 13%. That increase in sales is on top of a 9% increase in November, a dramatic turnaround from the 27% drop in October. On the other hand, the month to month median price fell 5% in December.

December of 2023 was similarly mixed when compared to December of 2022. Year over year saw sales volume increase a staggering 39%. Looking back shows December of last year as the absolute slowest month of the year for home sales at the Beach. The median price plummeting by 10% certainly helped generate those December 2023 sales.

Year to date numbers, comparing all 12 months, showed the number of home sales off by 11%. At the same time the median price was down 4% for the year. Much of the annual decline in sales volume occurred in the first half of 2023, when monthly drops of 25%-35% put the brakes on prices. Beach area median prices have taken steep falls since February 2023. It may take a couple more months before the first stimulating news on the interest rate front, but it would appear we’re looking at the “bottom of the market” now. Regardless of whether you’re a buyer or a seller, this is time to reassess your options.

Harbor: Positive Across the Board

December versus November of 2023 saw sales volume go up 1%. During that time the median price went up 2%. Harbor area homes sales dropped precipitously through the third quarter when they suddenly found strength and were positve in the single digits for the last quarter. Monthly declines in median price have been the order until the final quarter when median prices appear to have leveled out.

Looking from the annual perspective, home sales in December 2023 were up 3% over the last month of 2022. Using the same comparison, median prices were up 13%. This suggests the Harbor area may already be seeing improved stability.

Summarizing 2022 versus 2023 for the Harbor area, overall home sales volume dropped 17% for the year. Looking from a longer term perspective, sales have fallen 26% from the ‘pre-Covid benchmark year’ of 2019. From 2022 to 2023 the median price fell 2%. Again over the longer term, median prices in the Harbor area are up 31% over 2019.

Hill: Median Price Down – Sales Up

December home sales increased on the Hill by 9% over November levels. For the same mnthly period, median prices were down 9%. This pattern is expected to shift over the first quarter of 2024 as prices stabilize and interest rates decline to allow more potential purchasers to enter the market.

Compared to December of 2022, December 2023 came in with sales of 22% more homes and a median price increase of 5%. A solid year over year growth for the Hill.

Taking a step back and looking at the full year, sales volume fell 17% from 2022. At the same time, median price fell only 1%.

Inland: Sales and Prices Still Sliding

The last month of the year brought no relief for the Inland area. The number of homes sold continued to decline with sales down 2% compared to November. The median price was down for the second month, this time 5% for the month.

Looking at the same month last year, gives year over year sales volume down 2%,and a median price that’s down 2%. The final quarter of the year has been a rough adjustment period for the Inland area.

In the broader year over year view, the Inland area again fell, with sales volume down 11%. Median price was flat for the period with a tendency toward negative. It’s a transitional period which should resolve into a firmer picture by the spring of the 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 frank mckenna on Unsplash

Coming Up at the Grand Annex

un-told. (mostly) true stories

A weekend of storytelling where both seasoned performers and brave novices get up on stage to share their (mostly) true stories in front a live audience. The mission of un-told is to connect people through community, laughter, and inspiration. We want to give storytellers a platform to share their stories in front of a supportive and amazing audience.

Performance Schedule:

  • Opening Night Friday, 1/19 at 7:30 PM
  • Matinee Saturday, 1/20 at 2 PM
  • Closing Night Saturday 1/20 at 7:30 PM

John Jorgenson Quintet

Sat, Jan 27, 2024
8:00 PM
Doors 7:00 PM

John Jorgenson is a multi-instrumentalist and master guitarist who is recognized across rock, jazz and Americana genres. As the leader of the John Jorgenson Quintet (JJQ) his musicality and virtuosity absolutely shine. The group’s style is inspired by the dynamic string-driven swing created by Django Reinhardt in Paris in the 1930s, yet Jorgenson’s compositions draw additionally from Latin, Romanian, Greek, classical, and rock music.

JJQ is the only American act to ever headline the prestigious Festival Django Reinhardt in France and has been featured at Django-celebrating festivals around the world.

In addition to his jazz laurels, Jorgenson toured for six years with Elton John, won a country music Grammy, and has collaborated with pretty much everyone from Barbra Streisand to Bonnie Raitt, from Brad Paisley to Luciano Pavarotti.

No Depression music magazine says, “John Jorgenson has a rare kind of genius in that he’s equally comfortable and capable of playing Buck Owens, Beatles riffs, or jazz leads…”

Renee Safier & Bob Malone

Fri, Feb 02, 2024
8:00 PM
Doors 7:00 PM

Grand Annex favorites Bob Malone and Renee Safier join forces for a night of classic jazz and blues standards. Renee is an award-winning versatile rock, blues, and jazz vocalist. Known best for her work with Andy Hill and their band Hard Rain, Safier has played her guitar and sung her heart out to devoted folk-rock fans for decades.

Bob Malone is known for his high-energy piano-playing hybrid of rock, pop, and blues. He’s has toured with John Fogerty since 2011, done session work with Ringo Starr and Avril Lavigne and has amassed his own a loyal fan-base through 25 years of touring and nine critically acclaimed albums. The New Yorker called Bob, a “keyboard wizard” and in 2018, his recording of “You’re A Mean One, Mr. Grinch” was featured in the trailer for the Illumination/Universal film, The Grinch.

Andy Hill & Renee Safier

Tuesday, January 16 from 5:30PM to 7:30PM — SoCal favorites, Andy & Renee, along with their band Hard Rain, have taken their unique sound and multi-instrumental skills to venues large and small all over the world. Named, “Best of The Beach” for many consecutive years by The Easy Reader, their seventeen CD and three DVD releases have also won them countless awards. They are known for their numerous energy-packed live performances and have made a name for themselves as producers and performers of Dylanfest, an 8-hour music festival attended by hundreds of fans and featuring many of L.A.’s top musicians annually in the Spring.

Check out this fabulous duo at the world famous Lighthouse Cafe in Hermosa Beach Tuesday, January 16 from 5:30PM to 7:30PM, or any other Tuesday! They play the Lighthouse nearly every Tuesday.

Andy & Renee at the Banana Leaf

THU, JAN 18 @ 6:30PM — 9:00PM Come try this venue out! Great listening room and both Indian and American food menu!

Banana Leaf & Beach Cities Social, 1408 S Pacific Coast Hwy, Redondo Beach, CA 90277

Andy & Renee and Hard Rain at The Lighthouse

SUN, JAN 21, 2024 @ 2:00PM — 5:00PM The Lighthouse Cafe, Don’t miss this spectacular show!! Andy & Renee plus the full Hard Rain band at one of the best known venues in the South Bay.

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

Pro Songwriter Showcase – January 2024

HAPPY TUESDAY TO YOU ALL! JUST A GENTLE REMINDER ABOUT TONIGHTS PB SONGWRITER NIGHT – IT’S LOCALS NIGHT!!  ALL THREE OF THESE MUSICIANS ARE WELL KNOWN BEYOND THE SOUTH BAY, BUT WE ARE PROUD TO HOST THEM IN THEIR OWN NEIGHBORHOOD! THEY WILL BRING A VARIETY OF MUSIC TO THE ROOM AND PUT A BIG SMILE ON YOUR FACE TOO!

JODI SIEGEL – Every month on the third Tuesday Jopdi brngs together a few professional songwriter friends to play some of their own music for a very attentive and appreciative audience at the Project Barley Brewery in Lomita, CA. Today is that day! Jodi will kick off the session sith a few of her own pieces followed by these fine folk.

HAROLD PAYNE IS A MULTI-PLATINUM SONGWRITER – He has written songs for such diverse artists as Rod Stewart, Patti LaBelle, the Temptations, and long time collaborator, Bobby Womack—literally from Peter Paul and Mary to Snoop Dogg. Most recently, Rudimental reached #1 on the UK album charts containing the Womack/Payne song “New Day”, “Daylight” charted with Kelly Rowland plus the CD “Bravest Man in the Universe” which was co-written by Payne, Bobby Womack, Damon Albarn (Gorillaz) & Richard Russell (XL Recordings) received the prestigious “Q” award in the UK for “Best Album of the Year.”

CHUCK ALVAREZ – Many know Chuck as a guitar player for jazz great Flute player Tim Weisberg and the soul band THE Emotions , but Chuck is a well know producer of many singer-songwriters and a wonderful writer too! He has been rocking audiences for 40 plus years and shared the stage with legends like Johnny Winter, Robben Ford, Deana Bogart, Little Richard, David Benoit and many more. If you live here in the South Bay you know and love Chuck!!

PAULA FONG – American/folk artist Paula Fong Paula Fong is an Americana/Folk singer songwriter based in Los Angeles whose voice and style of writing has been compared to the early songs of Joni Mitchell, but has also been heavily influenced by the raw soulful poetry of Patti Griffin and the honest candor of Gillian Welch. In the past, she’s sung with song/screen writer Tracy Newman and was part of a duo with Tom Kell (Skyboys, J.D. Souther) that released two co-written albums together; “Between Heartache and Promise” and “The Other Side of Sorrow”. Currently, she is preparing to release her first solo album in the Spring of 2024 and also sings and plays in Americana/Indie Folk band, Abby Posner and the Big Fall.!

NO RESERVATIONS. Get there early to get a table! Put it on your calendar and see ya there!!

Project Barley serves excellent Food (Gourmet Pizza, gluten free/vegan options, wings, sandwiches, salads), wine, and award winning beer. Food served till 8:30pm. 2308 E Pacific Coast Hwy, Lomita, CA 90717 https://projectbarley.com/

Tips For A Stress-Free Housewarming Party

With all the stresses of of buying a new home and moving in, hosting a party may be the last thing on your mind, even if you really want to celebrate your move. You may instead want to simply book a reservation at a restaurant, especially if you don’t feel like cooking. But parties should be a way to de-stress, not a stressful experience, and the same goes for housewarming parties. Besides, you’ll want to send the invitations far enough in advance that you’ll probably have had some time to accommodate to your new home by the time the date comes around.

Remember not to make things harder on yourself or your guests. Instead of planning a full sit-down meal, provide snacks and beverages that people can pick and choose from at their own leisure. Decor can be relatively simple. You don’t need to have already finished unpacking your Christmas decorations — even if you did buy in December.

Even though there’s no need to be overly nervous, you should still put some thought into it. Pay attention to how you set up the space for your celebration. The areas where you want people to mingle or pick up snacks and drinks should be easily accessible. You can also make less work for yourself later by checking out local grocery stores when deciding what you want to serve. That way you get to know the area better, and your new neighbors might also appreciate something familiar to them.

Photo by Jenna Stensland on Unsplash

Real Estate Investment On A Budget

Many people believe they don’t have the capital to initiate a real estate investment. While it does require some capital, the requirement may be lower than you think. This is especially true if you can find a group of people that want to pool money with you for an investment. You don’t need to demonstrate that you could afford it on your own in order to convince investors to pool money. But even if you aren’t crowdfunding the investment, with enough good research you can find something that works on your budget.

The first thing you need to do is figure out what that budget actually is. While there is always some risk in investing money, real estate is not supposed to be a high-risk investment — don’t try to push the boundaries of your financial stability. Research the market and connect with real estate professionals, or more experienced investors, even if you don’t plan to pool with them. You should also research loan options, and don’t be afraid to take a loan out on investment property, since the rent should ideally pay for the loan over the course of its lifetime. You can also save on costs with some DIY work.

There are a couple different ways to start off. One option if to find cheaper, smaller investments — including off-market properties, which are often at discounted prices — and work your way up after you’ve build up some equity. Another is to purchase a multifamily residence and live in one of the units, termed “house hacking.” This allows you to simultaneously only have one property’s payments to deal with, earn rental income, and accrue equity, with the tradeoff that multifamily properties have a higher upfront cost.

Photo by Acton Crawford on Unsplash

Don’t Cut Corners On Your DIY Projects

DIY projects can save a lot of money. You may also be tempted to save even more money, or time, by skipping over important steps. It’s not worth it — if you make a major mistake, you’ll be out a lot more than if you simply got a professional to do it. You will still save money even if you make sure you’ve done everything right. Also, these are things the professionals would do anyway, so it won’t take any longer, though it may take more of your own time.

“Measure twice, cut once” isn’t just a figure of speech. It’s something professionals actually do, and you should as well. In fact, it doesn’t hurt to measure more than twice, especially if it’s not something you do frequently. But even before you measure and cut anything, you’ll want to know the exact layout of your home. That doesn’t just mean which rooms connect to which. Figure out where your pipes, electrical wiring, and supports are. You don’t want to accidentally damage the structure of your home by cutting or nailing into the wrong thing. When it comes time to figure out what you’re replacing parts of your home with, don’t skimp on the materials, and use proper tools. For many DIY projects, labor is the most expensive part, not the materials. Even for those projects with expensive materials, the higher price of quality materials is worth it, particularly since you can use the money you’re saving on labor to pay those additional costs. Finally, if you do end up making a mistake, don’t fall prey to the sunk cost fallacy. Just call a professional before you make things worse.

Photo by Finn Mund on Unsplash

Live Music at the Grand Annex

Tickets are ON SALE now for the new line-up of winter-spring concerts. They are moving fast, so it’s time to choose your favorite shows before they sell-out.

We have already booked a second Jack of Hearts The Music of Bob Dylan concert in April and added three Wine Tastings. Stay tuned for more shows to come!

We are thrilled to announce that 2024 is the 15th Anniversary of the Grand Annex Music Hall, your neighborhood home for live music. We look forward to celebrating with you at concerts throughout the whole year!

JOHN JORGENSON QUINTET

Saturday, January 27 / 8 PM

Grammy award-winning guitarist leads his gypsy jazz group known for their Django Reinhardt-style swing.

TICKETS

RENEE SAFIER & BOB MALONE

Friday, February 2 / 8 PM

Grand Annex favorites Renee Safier (vocalist of Andy & Renee & Hard Rain) and keyboard wizard Bob Malone join forces for a night of classic jazz and Great American Songbook standards.

TICKETS

ROSE’S PAWN SHOP

Saturday, February 10 / 8 PM

Alt-rockers return with some of the best lyric-driven roots rock since The Band emerged from Bob Dylan’s basement.

TICKETS

To see the balance of the season bookings go to https://grandvision.org/grand-annex/

Andy & Renee-The Lighthouse Cafe

SoCal favorites, Andy & Renee, along with their band Hard Rain, have taken their unique sound and multi-instrumental skills to venues large and small all over the world. Named, “Best of The Beach” for many consecutive years by The Easy Reader, their seventeen CD and three DVD releases have also won them countless awards. They are known for their numerous energy-packed live performances and have made a name for themselves as producers and performers of Dylanfest, an 8-hour music festival attended by hundreds of fans and featuring many of L.A.’s top musicians annually in the Spring.

Check out this fabulous duo at the world famous Lighthouse Cafe in Hermosa Beach Tuesday, December 19 from 5:30PM to 7:30PM, or any other Tuesday! They play the Lighthouse nearly every Tuesday.

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

Songwriters Showcase – December

This is a once a month (every third Tuesday) show that is designed as a listening room for world class songwriters, to play their original music in an intimate setting. NO COVER BUT DONATIONS ARE STRONGLY ENCOURAGED 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: David Serby/Ed Tree, Nick Justice/Richard Stekol, Jodi Siegel and Barley Unplugged!

DAVID SERBY (w ED TREE))

The Southern California-based country-rocker David Serby has made a name for himself with his evocative, gritty portraits of SoCal life that are both personal and universal. The LA-native has a unique perspective because he spent much of his childhood in a small farming town in Illinois before returning to Southern California as a teen.

Serby doesn’t shy away from Southern California’s many warts, as he demonstrates throughout his upcoming release, Low Hanging Stars. The record’s roadhouse rockers, country shuffles, and south-of-the-border two beats, are populated by a cast of maybe not quite losers, but certainly too lost to find the winners circle down-and-outers, and it is full of the clever word-play and heartfelt and introspective lyrics for which he is known.

This will be Serby’s sixth record with producer/guitarist Edward Tree. His previous, critically acclaimed releases include I Just Don’t Go Home (singer-songwriter); Another Sleepless Night and Honkytonk & Vine (roadhouse honky tonk); Poor Man’s Poem (folk); and The Latest Scam (rock).

Serby’s influences include the classic country artists played by his father on the family hi-fi- Roger Miller, Marty Robbins, Johnny Cash, Willie Nelson and other Nashville stars – as well as the edgier country rockers discovered by Serby as a Southern California teen – The Blasters, Dave Alvin, Rank and File, X and Dwight Yoakam to name a few.

Serby has remained an active member of the vibrant Southern California roots music scene for the last twenty years, and he has twice played the Palomino Stage at the Stagecoach Festival in Coachella, CA, opening for among others, Willie Nelson, Lucinda Williams, The Old 97’s, Robert Earl Keen, Kris Kristofferson and Rodney Crowell.

NICK JUSTICE (w RICHARD STEKOL)

Nick Justice hails from the Bronx, NY. He came out west in 1980 and fronted a few bands (Guns for Hire, Nick Justice Band, Chords of Fame) in the emerging cow punk era in southern California. Playing on bills with the Blasters, X, The Plimsouls, The Go Go’s, The Beat Farmers and The Bangles who were all going somewhere while he was going nowhere Justice fled to the Northwest living in Seatlle for most of the 90’s playing throughout the Northwest as a traveling troubadour for a decade mostly playing coffee houses, house concerts and juke joints. Justice came back to LA in 200o and quit the music business but never stopped writing. In 2015 he called up a few old friends like Greg Leisz, Bobby Cochrane and put out and EP “The Cry of the Street Prophet”. 4 records quickly followed in succession including 2019’s critically acclaimed “The Road Not Taken” with Richard Bredice (Jules Shear, Fallout Boy, Missiles of October, David Lindley) at the helm producing all 4 records. Justice’s newest release “Rope the Wind” charted at #1 on the Roots Music Report Top 50 Folk Rock Album Chart in April 2021.

BARLEY UNPLUGGED

Barley is feel good Americana band with a beach country vibe. Barley, who’s fearless leader lead singer/trumpet players and songwriter, Brent Reger, is also one of the owners of the three Barley Breweries located right here in the SouthBay. Barley, is a band of music brothers, with excellent harmonies, cool songs and seasoned musicianship! “It’s more of a family than a job. It’s not a job for us. We enjoy it and we have a good time together,” said Reger. There’s a lot of them in the band, eight to be exact: Brenton, Chris, Jason, Jay, Nate, Russ, Rusty, and Stephen. This band has stuck together for 10 years, playing all around the beach cities.

“Everything happens at the beach. We love the South Bay,” said Reger. Some of the members are from the South Bay and the rest have been here for years. It’s where they draw their inspiration from. Barley writes and performs their own music. Their sound they say is similar to the Beach Boys.

“Our music encapsulates that beach vibe. It’s a little folky. It’s a little beachy,” said Reger. They normally play with their full band – drums – guitars, bass etc….but for a few special shows, they do an unplugged type show where they sit on stools, and play and sing their songs accompanied by acoustic guitars. You can really hear the lyrics and their beautiful harmonies.

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 Home Sales Improve!

Every month we compare the level of home sales from the preceding month to the same month of the preceding year. For example, November of 2023 is compared to November of 2022 to determine whether the number of homes being sold is growing or shrinking. The year over year number of homes sold across the South Bay has been shrinking every month since October of 2021–until now. November of 2023 marked the first time since October of 2021 where the number of homes sold increased over the same month in the prior year.

Lest we become overly enthusiastic, we need to remember that at this time last year successful sales figures were plummeting, Closed escrows were shrinking at up to 50% below the prior year in fall of 2022. So a positive value could only mean we’re bouncing along the bottom.

Also on the positive side, there is some improvement in median price which has been shrinking most of this year. At least as of November, it’s looking like “scattered improvement” in the South Bay real estate market.

Beach: Home Sales Pull Out of Dive

After two successive months of declining sales volume and falling median prices November real estate activity brought positive news to the Beach Cities. Last month saw a 9% jump in sales volume over October, and a 4% increase in the median price. The number of homes sold climbed from 79 last month to 86 in November. Concurrently, the median price gained nearly $70K.

The downside was a 3% drop of the median price versus November of 2022. The sold median for last November was $1.700M compared to $1.656M this year. The year over year sales volume gained 8% with 86 sales versus last years 80 transactions.

Year to date remains in red ink with sales down 14% January through November. For the same time period, the median price has fallen by 2%.

Harbor: Volume and Prices Turn Upward

Compared to November of 2022, both sales volume and median price climbed by 7% last month. This is the second month of solid upward figures for residential home sales in the Harbor area. Sales figures for the area have been in red ink since the beginning of the year, so these are welcome statistics for home owners wishing to sell.

On a monthly basis, the number of homes sold in the Harbor area fell by 6%, dropping from 267 in October to 252 in November. despite a median price increase of 1%.

Looking at the longer term, median price for the first 11 months of the year has fallen from $756K in 2022 to $740K, for a decline of 2% in the year to date median price. Sales volume for the same 11 months went from 3,770 in 2022 to 3,076 this year, a decrease of 18%.

Hill: Sales Volume Down, Prices Up

Comparing November of 2023 to November from last year shows a 10% drop in sales from 51 units in 2022 to 46 units this year. Despite the decline in number of sales, the median price for November climbed 19%, going from $1.77M in 2022 to $1.94M this year.

Monthly changes to the median price are much smaller and have been getting smaller as the year progresses. The November decrease was 1%, having dropped from $1.96M to $1.94M. The median price has varied monthly throughout the year. It ranged from a high of $2.3M in May of this year and fell as low as $1.6M in February. Year to date the median for the Hill is up 1% from 2022.

After having risen in September by 14% and in October by 13%, the number of homes sold on the Hill fell by 27% in November. Of course, part of the decline is seasonal. However, month to month sales volume for the first 11 months of 2023 was off by 19% in Palos Verdes with a similar drop of 16% overall for the South Bay.

Inland: Median Price Up from 2022

November 2023 was a good month for the Inland area compared to the same month last year. The number of homes sold climbed 11%, from 96 sold last year to 107 this year. Median price turned upward by 6%, ending the month at $851K, changed from $800K in 2022.

Compared to October of this year, Inland homes sales fell 8%, dropping from 116 homes to 107. That rate of change was slightly higher than the 6% drop across the South Bay. Median prices fell 7% for the month.

Year to date, the Inland area sales volume is off by 12% while the median price is up 1% from the same period in 2022.

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 Andrew Sterling on Unsplash

After Move-In Checklist

Moving can be very stressful, and after completing a successful move, you probably want to just take some time to relax. But don’t forget to do your due diligence with settling everything that needs to be settled after move-in. To save you the hassle of wondering whether you’ve missed anything or not, here’s a handy checklist. They’re in no particular order, but they should all be done.

Update your mailing address. This is particularly important for bills and other services, but don’t forget about things like magazine subscriptions. The local post office can help you sort things out.

Set up utilities. If they’re not in service, make sure they are. If they’re already in service, change the name on record to your own name. These utilities include gas, cable, electricity, internet, telephone, sewer, and water. You should also check your smoke and CO alarms to make sure they’re working.

Determine the layout of your breaker box. Breaker boxes can be notoriously difficult to puzzle out, so it could take some time. Outside assistance is helpful to notice changes in different rooms as you figure out the switches.

Change your locks. Sure, you probably got the keys from the old homeowners. But who else has the keys? Their neighbor? Best friend? Parents? You have no idea. Better to change the locks and get a new set of keys.

Photo by Glenn Carstens-Peters on Unsplash

Permanent Versus Temporary Mortgage Buydowns

A mortgage buydown is an option to pay an extra upfront fee to reduce your mortgage interest rate. They come in two types: permanent or temporary. Permanent mortgage buydowns last for the entire length of the loan, resulting in decreased interest expenses at the cost of an upfront fee. Temporary buydowns last for a specified length of time, and typically are gradually phased out over the course of the buydown period. However, it’s possible for the upfront fee of a temporary buydown to exceed the interest reduction.

The decision of whether to take a permanent buydown or no buydown is relatively simple and only depends on whether you think you can afford the upfront payment. The decision of whether to take a temporary buydown or not is more complex. At first glance, those with a higher upfront fee than interest reduction can seem like a scam — paying more now in order to pay more over the course of the loan? Seems like a terrible idea. And it would be, if it were you as the buyer paying the upfront payment. However, with temporary buydowns, unlike with permanent buydowns, it’s most often something that the buyer requests that the seller pay for as part of the negotiation process. This way, the buyer gets to pay less in mortgage interest for a short time, and the seller pays extra to guarantee that the sale goes through. And if the upfront fee is less than the interest reduction, the buyer also has the option to pay for a temporary buydown themselves if the seller doesn’t want to.

Photo by Igal Ness on Unsplash

Paying Off Your Mortgage Early Isn’t Always The Best Idea

It can be very attractive to pay off your mortgage early. The reason for this is both financial and psychological. Paying down the principle means you’ll be paying less total over the duration of the loan than if you simply made the minimum payments, since interest is based on the principle, not the original loan amount. It will also give you some peace of mind to know that you no longer have any mortgage payments. But those aren’t the only factors at play, and depending on your financial situation, it may actually be better to keep making steady minimum payments.

Of course, if you can barely afford the minimum payments in your budget as-is, the decision is made for you. However, there could be reasons for someone who can afford to put a bit more towards payments to instead hold onto it. One reason is that mortgage interest payments are tax deductible. You may be paying more in mortgage payments, but paying less in taxes. Whether or not this is in your favor in your specific situation is a question for a tax professional. Another is the effects of inflation: as prices and therefore the cost of living continue to increase over time, as long as you make only minimum payments, the total amount you will have owed by the end of your mortgage doesn’t change at all. That means the amounts for payments made towards the end of the loan’s life tend to have lower value in terms of purchasing power, and may be less of an economic burden than other payments you may need to make.

The latter reason doesn’t mean much if you aren’t spending the money on something else, but there’s a good chance you should be. Savings funds, such as retirement funds, and investments both require money to be put into them to gain a profit later. If you don’t have money to invest, you won’t get any in return. Even holding onto the money can be useful, in case it’s needed for emergencies, or a very good investment opportunity crops up.

Photo by Igor Omilaev on Unsplash

Local General Plan To Gain Priority Over Zoning Laws

Every city in California is required to present a general plan for housing development, which is to be updated each year. The general plan must take into account housing needs based on the population and expected population growth. However, what the general plan doesn’t account for is zoning laws, which currently take precedence over the general plan. This means cities can feign considerations in their general plan while implementing zoning laws that combat their own plan. Even cities that mean well may not be able to get sufficient votes to modify their zoning laws in accordance with the general plan.

That will change beginning January 1, 2024. Under AB 821, development plans that don’t meet zoning ordinances may still pass if the ordinance they fail to meet is inconsistent with the general plan. AB 821 allows for two possible outcomes in this scenario. The local agency controlling development applications has 180 days to either amend the zoning law that is inconsistent with the general plan, or simply process the development application regardless of failure to meet zoning laws. Note that this law doesn’t actually force changes in zoning ordinances. Nothing happens to zoning ordinances that aren’t challenged by a development application designed to further the general plan, and a very stubborn local agency could simply delay processing by up to 180 days, and then possibly a further 90 days in court.

Photo by Pedro Miranda on Unsplash

More: https://journal.firsttuesday.us/new-law-prioritizes-local-general-plan-over-zoning-ordinances/92901/

Common Mistakes In Kitchen Remodels

A kitchen remodel can be extremely effective at increasing both the value and the utility of your home. But it’s also costly, and if done improperly, can be a huge money sink. Too many homeowners neglect to plan their kitchen remodel adequately and end up regretting some of their choices.

Most plans to remodel the kitchen begin with the idea that something is missing or wrong with the current kitchen setup. This could be various things, such as insufficient counter space, odd direction of workflow, or not enough storage, or perhaps you just want an island and don’t have one. However, it’s important to recognize that space is finite. Whatever changes you make, you’re probably sacrificing something else to make it happen. Plan out where you are going to place appliances — both large and small — and how much storage you will need. Consider how you intend to navigate the kitchen while using it, and ensure that the path is both clear of obstacles and sensible. For example, if you fry up some eggs for breakfast every day, you’ll probably want the stove to be relatively close to the refrigerator, and if you make coffee at home, your coffee maker should be near where the coffee is stored.

Another common error is choosing the trendiest materials and colors for your kitchen. It may garner the most interest now, but if you aren’t selling immediately, it’s a mistake. Whatever’s in fashion now will probably be more expensive than other options and isn’t any more likely to stand the test of time than any past trend. Timeless designs and neutral or classic colors will always be at least serviceable.

Photo by Jason Briscoe on Unsplash

Coming Up at the Grand Annex

SARAH LEE GUTHRIE
Holiday Show
Fri, Dec 01, 2023, 8:00 PM, Doors 7:00 PM

Sarah Lee Guthrie sings originals plus the iconic folk songs made famous by her father Arlo, grandfather Woody and their comrades in music. Enjoy holiday cider and sing-alongs.

Sarah Lee Guthrie’s bright vocals prove that she is a force to be reckoned with in her own right. Over the past 2 decades, she has continued her ancestral legacy, touching the hearts of folk fans nationwide.

She released 6 albums so far, including her 2009 family album Go Waggaloo, featuring Arlo, her then-young children and unused Woody Guthrie lyrics. The album won a Golden Award from The Parents’ Choice Foundation.

Andy Hill and Renee Safier

Andy & Renee are back to their regular gig at The Lighthouse in Hermosa Beach Tuesday evening. See them every: TUESDAY @ 5:30PM — 7:30PM. The Lighthouse Cafe, 30 Pier Avenue Hermosa Beach, CA 90254 310 376-9833

And watch for their Thursday, November 30, 6:30-9PM show at the Banana Leaf & Beach Cities Social, 1408 S Pacific Coast Hwy, Redondo Beach, CA 90277

SoCal favorites, Andy & Renee, along with their band Hard Rain, have taken their unique sound and multi-instrumental skills to venues large and small all over the world. Named, “Best of The Beach” for many consecutive years by The Easy Reader, their seventeen CD and three DVD releases have also won them countless awards. They are known for their numerous energy-packed live performances and have made a name for themselves as producers and performers of Dylanfest, an 8-hour music festival attended by hundreds of fans and featuring many of L.A.’s top musicians annually in the Spring.