There’s a saying in the real estate business that states: “pricing is an art, a science and a skill.”

This video and the following comments about Intown Atlanta’s Adair Park are not just the rainy day ramblings of a dude who did not shave.

I’ve just watched one particular Adair Park property drop in sellable value from $150,000 to $35,000 in 2 years, and this video tells you the story…

So, recently the City of Atlanta put a cool new sculpture in Adair Park, but that is about the most beautiful investment anyone is making in Adair Park, lately.

Somewhere around 2006, the “disinvestment” and “mortgage fraud” trends hit the 30310 zip code…HARD.

30310 had and has the distinguishing weakness of real estate speculation gone haywire.

Houses that would have sold for $150000 in 2007, now will not sell for more than $50000…

You really should check out Historic Adair Park’s website – the Adair real estate dynasty of the early 20th century built an accessible, middle class neighborhood. If that’s what you are looking for, then look no further!

The good news is coming in a decade or two – “Murphy Crossing” at the proposed Beltline and MARTA crossing near the West End, will be the “Lindbergh” of the Southside. It’s all here on this detailed Beltline map of the SW side of Intown Atlanta…

So if you want to live in classic Morningside style and era Brick Tudors, or well built 20th century craftsman style bungalows, less than 10 minutes from Midtown, then check out Adair Park, Sylvan Hills, Capitol View and Perkerson Park.

Try to live near the parks, on a quiet tree lined street, and away from the major roads and railroad lines.

Nearby, on the way to Turner Field, Mechanicsville and Pittsburgh are much more blighted, but improving. They seem more compromised by rail and highway, so be concious of those neighborhoods if you are seeking property down this way.

Regardless, for $25,000 to $50,000, there are some pretty cool options for first time, sweat equity, value buyers.

Get Your Real Estate On just 10 minutes from Midtown – FHA 203K loans and cash offers, widely accepted!

Sellers – if you need help, please call me. Short sales are in season at every bank – in 2010, the season will continue.

Here’s a look at what’s positive about Intown Atlanta real estate through the Summer of 2009. Look for some updates coming soon based on the recent Q3 2009 statistics and charts…

Next, check out this video, live from “English Avenue” on the Westside – just 2 minutes from the Georgia Dome. If you stand around long enough, you’ll probably attract a heroin addict, so let this video be your guide to the the “downward gravitational pull of foreclosures” in Intown Atlanta…

That’s a wrap for the second quarter – stay tuned for newer, fresher video reports, coming soon!

 The “Good News Economists” over at Seeking Alpha posted a timely article this week that should ease the impatient millions who waited to take advantage of the tax credit that expires in about  – oh, I don’t know exactly, uhhhh…it depends on your bank, but like, uhhhh… 10 or 12 real working days.

If you don’t know, then now you know.

Take heed, slowpokes.

Just realize that the “new deal” is slightly different, and that victory comes to the swift and the capitalized.

“Senate Majority Leader Harry Reid has proposed a new version of a popular home-buyer tax-credit extension. Folks close to the matter claim a vote on the proposal is coming shortly.

The debate comes as a Treasury auditor revealed this week that the Internal Revenue Service improperly issued millions of refunds related to the credit.”

I just answered this Trulia Voices question.

The question is about how a mortgage-funded buyer who got beat by a cash buyer on a Suntrust REO purchase and sale, was wondering if they might be “paranoid.”

Suntrust REO: We bid 25K over the asking price on a property. They asked for our highest and best twice, and we gave it. Last week, we found out we had the highest bid, but the next highest bid was a cash bid for 10K less. We waited another whole week, even telling Suntrust we would take out a mortgage with them. Today, the property was relisted on MLS for $10k less than it was listed for when we bid. Tonight we got a fax saying it was sold. Is something going on, or am I just being paranoid?

Part of my answer included this advice:

“Highest” and “best” are distinct and subjective to every “arms length” real estate transaction.

If you encounter Suntrust again, don’t sweat the technique, whiner.”

The Trulia Voices web reference includes a 90+ page Scribd article that I found that offers one of the most  tremendous amounts of information, references and knowhow regarding “Distressed Property Investing” that I have ever read.

Seek first to understand, then to be understood – this article goes a long way towards understanding REO purchasing technique.

And, don’t forget what I told this Trulia Voice:

“Banks pay people to evaluate their collateral and they make informed loss mitigation decisions, everyday.

Cash is winning about 40% or so of all real estate transactions right now, I believe.”

This is what Eric B. and Rakim would advise:

…Classical too intelligent to be radical
Masterful, never  irrelevant: mathematical…

It’s cool when you freak to the beat
But don’t sweat the technique…”

Kirkwood is one of Atlanta’s coolest and most historic neighborhoods. Kirkwood is located less than 10 minutes from downtown Atlanta and going back a few hundred years, you’ll learn that many sites in Kirkwood were part of the Battle of Atlanta, and that Kirkwood was once a separate city that Atlanta “annexed” in 1922.

Tomorrow, a few of us are hosting Open Houses between 1130am and 200pm.

I live in Hawthorn Park, and I’m showcasing one of my neighbor’s houses for sale.

Hawthorn Park is a 5 year old neighborhood featuring 47 homes built by Springdale Homes – they are an award winning builder, and the neighborhood features a lush, creekside park that is 6 acres in size.

I call it an island in the middle of Kirkwood…

If you want to see a remarkable house priced at $400,000 – then come check out my listing at 195 Hawthorn Circle…I’ll also have Six Feet Under catering and $5 gift certificates for every attendee.

Here are three tantalizing photos of my property listing:

Here’s a link to the virtual flyer for this gorgeous property at Showing247.com.

There are 4 other houses on tour tomorrow – each of them are substantially renovated, “Kirkwood Classics” priced between $327,500 and $369,000. Come see them all!

I’ll have a flyer printed for you to pick up that will help you navigate the tour!

Please come check out the 5 houses on tour tomorrow, Tuesday October 13!