The Union-Tribune is running a story about the slowing Downtown condo market. They actually cite several examples of people losing money! Here’s one example…

Carol Cavanaugh, a lawyer who works downtown, bought a condo in The Grande south tower for $623,000 in late 2004. She thought she would like the convenience of being close to the office, but she doesn’t like high-rise living. She put the unit on the market for $570,000 to $599,000.

She has received two low-ball offers, both from real estate brokers. But Cavanaugh is going to stick it out until she gets what she wants – even if it is a loss.