Troubleshot flashing lights in the basement office to find that the light itself and gone bad. We found a very similar fixture and went out and purchased and came back and installed it. Light is not working properly. While on site with performed inspection of the main panel as well as electrical system and found that the panel itself is original to the home from the 1979. We then went outside and found that the service cable itself it was deteriorating, and the insulation is chipping away. This is leaving expose neutral wires to the elements. Recommend add minimum replacing the cable with safety and code updates however, we also provided a solution to completely redo the main panel to bring it up to today’s standards, as well as the safety updates and the cable replacement.