To answer your question there are bargains to be had, however you have to act quickly when you do come across one. The Historic District is divided into two zones. The first is the Downtown Historic District roughly form Gwinett street north and the Victorian Historic District, which is roughly from Gwinett street South until you come to Victory Street. People (including a lot of Savanians) group them together. Prices are naturally higher around Forsyth Park, the squares and famous streets or landmarks. This year to date, the historic District currently has 403 homes on the market with 30 selling. Some houses have been on the market there for a year. On average houses sell for a little over 90% of the listing price. However remember this is an average. A lot of properties that go into foreclosure get close to listing price because bans have lowered the price so much. that even the list price is a deal. Which is why I said, once you find a deal, you have to act quickly. I live in the Downtown Historic District, and a house across the street from me and down five was on the market for 6 monthe at $435000. It went into forclosure for $300000 and was under contract in 2 weeks and closed for $295000. It is virtually the same house as mine, just a little older and I bought mine for $546000 two years ago and that was a good price! So in answer to your question, yes, a current bargain can be had, provided one is researched and diligently looked for.