I just posted “The Mother of All Intown Atlanta Real Estate Charts” and this video is an attempt to add some color commentary.

Find the chart and my post here…

This video is a message to Atlanta Sellers and Buyers to get “hyper-local…”

The Mother of All Intown Atlanta Charts

Out of every 100 finalized listings, 70 failed to sell and 30 sold.

Of the 30 sold listings, 20 (73%) had a price reduction, when listing prices from previous listing periods are included, before a Buyer was found.

Therefore, if 70 failed due to overpricing and another 20 required a price reduction in order to sell, 90 out of every 100 listings were overpriced in 4Q 2008, resulting either in either no sale, or a sale at a much-reduced price after a much-longer listing period

The Rootdown Group posted better numbers in 2008 than ever before – of the listings that we sold, we sold them at an average of 98.5% of list price and we sold them within an average of 28 days.

The average, price-reduced sale – the 20 out of 100 – their numbers really look horrible, but at least they sold. Their average days on market after one or more price reductions is 222 days, and they sold at an average of 81% of the original list price.

That’s agonizing.

The average, priced-right sale – the 10 out of 100 – their numbers are close to our average – these 10, the only properties that sold quickly and for close to full price, sold within 28 days and at an average price of 96.4% of list price.

2009 will require a judicious approach, won’t it?

Check back here for more market data details – 2009 is going to be transformational.

The Rootdown Group operates our real estate practice at an exceptionally high level of skill, commitment, and competency. We simply offer excellent assistance to anyone who needs real estate help, anywhere in the world. Our specialty is the Intown Atlanta and Decatur submarket – please remember to contact us when we can help you or someone that you know.

So, this is classroom full of children in Pittsburgh, courtesy of my old friend Ian Knott at Pittsburgh Coffee…

His cute little curly-haired daughter is on the top left.

Here’s my cute little daughter Kaylie, who turns 1 tomorrow!

Here’s a video by Intown Atlanta’s own Outkast – “Happy Valentines Day, everyday the 14th!”

Based on what Dekalb County tells me, I need to do the following to appeal a difference of about $50,000 in between the City of Atlanta and Dekalb County Tax assessor’s valuation, and the actual market value of my house today.

If I feel that the Property Appraisal Department has assigned an “inappropriate value,” then I need to file a “tax return” with their office between January 2d and March 1st stating what I believe to be fair market value.

Since I don’t know what a “tax return” in Dekalb County is exactly, I’m going to the Property Appraisal Department office on Monday morning and I’m gonna get busy.

Apparently a “tax return” by their definition indicates the value of the property. For instance, I’ll indicate that I finished my basement last year, acknowledging some level of value addition. I’m required by law to do so.

There are 4 reasons to file a tax return:

1. if I make improvements of additions to my property

2. if I want to appeal the fair market value of my property

3. if my purchase of a property caused a subdivision or combination of an existing property

4. if, at closing, the closing attorney failed to fill out a tax declaration form

They state that this action of filing a return will generate a review of my property value by the department. If the value is changed, a “notice of assessment change” will be mailed to me by late March or early April, allowing me 30 days to further appeal to the Board of Equalization if I continue to disagree with the value change.

If the property Appraisal Department makes no change in the value, then my returned value (appeal) is automatically sent to the Board of Equalization for a hearing. State law prohibits filing a Dekalb County tax return after March 1st for any year, so the same goes for all counties in Georgia, I guess.

So, join me and get your tax return on – if you think that your Intown Atlanta or Decatur house is down in value, then it probably is.

There are metro Atlanta submarkets that are down 25% or more since 2005.

If your local government has you assessed on your most recent purchase price, and if that purchase came before the steady decline in prices began in June 2006, then get your tax return on.

Mine is down over 10% based on their ongoing increases since our May 2004 purchase.

They got another thing comin’…

In addition, Georgia Senate Bill 55 will place a requirement ” which directs assessors to count foreclosure sales when setting tax values. The bill sailed through the Senate Finance Committee with no opposition Thursday, February 5th.”

Here’s an AJC article about it.

The pain of funding loss for local governments with this state level mandate is apparent in the interview statements with Fulton and Dekalb officials!

Therefore, get your tax return on before March 1st!

The National Association of Homebuilders has a pretty good site dedicated to nothing but the Federal Housing Tax Credit.

This topic seems to be #1 in my worldview, since Monday.

Maybe it’s because some buyers are about to take part in a grand restabilization of the housing economy, and in so doing maybe that single inventory sell off will be the catalyst that refuels and stabilizes, refreshes and creates, and stimulates and drives small to medium sized businesses across the country.

Maybe the corporate America talent pool that just shrunk in droves will move into virtual workspaces and lots more work from home web-commuters will appear, like my wife Laura and I. If you are more interested in this kind of transfigurational conversation, then you should read this article about how Chris Brogan and the folks at New Marketing Labs work.

Here’s a video, live from my office at Rootdown World Headquarters in Kirkwood.

I wish that we bought our house in Kirkwood under 2009 terms and conditions!

Y’all get out there and get your real estate on!

Just yesterday, I realized that after just 16 days of Twitter usage, I’m not watching the national television news as much.

I don’t have to do so, because The Phoenix Real Estate Guy takes on that arduous task for me, and then he tweets it.

That’s right, he tweets it.

So, he wrote a terrific post about the “political football” that is Georgia Senator Johnny Isakson’s brainchild. Or at least he “hiked the political football.”

Regardless, read the latest at the excellent website of The Phoenix Real Estate Guy.

He’s good.

Oh, and the video was done 2 days ago, and it’s already dated. Regardless, my primary point is about the action that I must take as an Atlanta homeowner, a Dekalb taxpayer and that is about appealing my $50,000 of extra valuation on my little house in Kirkwood.

I’ll write another post before the weekend and describe the steps that we must take if we are going to get a property tax appeal completed by March 2, the deadline in Dekalb.

Make today an amazing day, regardless of what the national news tell you!