So since this post, one other sale occured - at 205K. It's not a basement home but is indicative of the downward value slope of this area.
Case-Shiller is far far too broad to use for anything local and Robert Shiller is far from sold on any "recovery". The bottom line is that many don't like appraised values, there's nothing that can be done if the data is there. Cost does not equal value - opinions do not equal value.
If you think it's challenging now, wait until spring - http://hankmillerteam.com/2012/10/24/looking-ahead-to-the-spring-atlanta-housing-market-and-challenges-expected/... more
Property crimes are crimes against "property," as opposed to rape, assault, etc., which are crimes against the person. Property crimes would include burglary, breaking and entering, etc. I hope this helps!... more