I've bought and sold 2 units in the Balboa Ridge complex recently. The complex, as you probably know, is in litigation with the builder over mold and slab issues. The pending litigation puts a damper on the majority of financing. That said, units are still selling. Your daughter can expect her unit to sell for between 170K-190K and most likely to a cash buyer. The challenge your daughter has is whether she wants to short sell it or not. It looks like the original mortgage taken out on the property would require a short sale. Many of the units in this complex are being sold short and there at least 10-15 units currently in PENDING or CONTINGENT status. Which some would think is bad but to me, an eternal optimist, it signifies there is interest in this type of product.
That's my two cents and it's worth every penny.
Please let me know if I can lend an expert hand to the short sale of your daughter's condo.
We sent you an e-mail with the market info about the complex where your daughter lives.
Mark & Kari Shea
Shea Real Estate
Home Sales Specialists; New and Resale Homes
Property Valuation Specialists
Land Sales, Acquisitions & Consulting
Serving Greater San Diego