The flippers have not fled the market

Tonight I thought I'd try running a query on my records to see if I could determine what short sales, if any, are underway in Redondo Beach. I structured the query to look at my listing records that have not yet been marked sold, then match the addresses to my sales records, and pull up those where the difference between the prior sale date and original listing date of the current listing is no more than a year.

From the results there are a few that definitely appear to be in short sale territory, when you look at the difference between the prior sale price and the current asking price. Out of 40 good records, 8 have a negative difference (20%), and when you factor in real estate commissions and closing costs to complete a sale, there are more.

There are a number of properties, though, with a substantial markup (a doubling of price?!?) since the last sale. I have not examined these in detail, so it's very possible some of these are now entirely new construction while the prior sale was a teardown. But it's also possible that some of the more moderate markups are deliberate remodels/flips.

    ADDRESS             SALEDATE        PRICE    LISTDATE      CURRASK   DIFF
    Camino Real   402   3/15/2006       490000  12/16/2006     455000   -7.1%
    The Village   306   3/7/2006        950000  10/10/2006     849000  -10.6%
S.  Catalina      E     12/15/2005      920000  8/15/2006      940000    2.2%
S.  Juanita             10/15/2005      900000  6/19/2006      969999    7.8%
S.  Prospect            2/15/2006       775000  2/13/2007      809000    4.4%
S.  Catalina    101     3/15/2006       514000  2/14/2007      539000    4.9%
N.  Francisca           5/15/2006       700000  11/9/2006      735000    5.0%
    Sierra Vista        11/15/2005      700000  10/28/2006    1395000   99.3%
N.  Prospect            9/15/2005       860000  7/24/2006      799000   -7.1%
N.  Prospect            5/17/2006       775000  11/12/2006     949900   22.6%
S.  Helberta            3/15/2006      1100000  12/13/2006    1029000   -6.5%
N.  Lucia    B          4/15/2006      1150000  8/23/2006      979000  -14.9%
N.  Elena    B          1/15/2006       790000  10/24/2006     829900    5.1%
    Sapphire            10/15/2005      905000  8/20/2006     1299000   43.5%
S.  Gertruda            8/4/2006       1675000  8/28/2006     1799000    7.4%
S.  Pacific Coast       10/15/2006      800000  10/18/2006     990000   23.8%
N.  Maria               3/2/2006        804000  3/31/2006     1997000  148.4%
    Camino Real         7/15/2006       768000  9/25/2006      949900   23.7%
    Calle Miramar       3/15/2006      1100000  7/25/2006     1389000   26.3%
    Camino Real   101   2/15/2006       580000  2/5/2007       660000   13.8%
    Camino Real   104   8/15/2005       380000  8/6/2006       385000    1.3%
    Carver              9/15/2006       560000  11/30/2006     599000    7.0%
    Stanford            2/3/2006        731000  10/24/2006     775000    6.0%
    Morgan              8/15/2006       740000  9/20/2006      817000   10.4%
    Herrin              5/15/2006       682000  9/25/2006      769900   12.9%
    Pullman             5/15/2006       730000  10/28/2006     749000    2.6%
    Harriman            11/15/2005      900000  9/13/2006     1199000   33.2%
    Plant         B     11/15/2005      929000  9/13/2006      929000    0.0%
    Speyer              5/15/2006       750000  11/27/2006    1670000  122.7%
    Speyer              5/15/2006       750000  11/27/2006    1670000  122.7%
    Gates         2     2/22/2006       470000  9/22/2006      569000   21.1%
    Bataan        A     4/24/2006       890137  6/7/2006       894900    0.5%
    Mathews       A     2/15/2006       670000  10/25/2006     634900   -5.2%
    Ripley        A     11/15/2005      880000  10/10/2006     920000    4.5%
    Gates         B     2/8/2006        945000  10/25/2006     899900   -4.8%
    Felton              12/15/2005      769000  11/15/2006     745900   -3.0%
    Mathews       C     12/15/2006      665243  2/5/2007       699500    5.1%
    Vanderbilt    5     10/15/2005      614000  7/12/2006      690000   12.4%
    Pinckard            5/15/2006       800000  10/31/2006    1099000   37.4%
    Blossom             6/15/2006      1150000  1/8/2007      1219000    6.0%

This list does not include the townhouse across the street from me, which was new construction sold in December 2004 for $899,000, was put on the market in late August 2006 for $1,200,000, was reduced to $1,049,000 in early October, and has languished since. if I'm reading the county tax assessor correctly, the property taxes are delinquent. On the other hand, this list does contain the property a block east of us, which is now bank-owned. I spot-checked a few of the addresses in this list but didn't immediately turn up any others in tax arrears.