The missing fundamentals of terrific schools and remarkably convenient high end retail are my reasons for saying that.
House values will not be rebounding in general, because the market will not just simply pick up.
Certain submarkets are more stable than others, and I believe that the Niskey Lake area has a lot of redeeeming qualities, particularly the close proximity to Abdullah The Butcher's House of Ribs and Chinese Food.
However, even that formidable benefit is not enough to forecast a "pick up."
Niskey Lake in in South Fulton, and until the mortgage crisis, the area was one of the hottest areas being built. South Fulton will com back because of Atlanta future growth. The only thing about Niskey Lake, is that the houses are older with varying ranges in values. So I would think the house will need upgrades at a later time.
Niskey Lake was one of the most prominent areas of Atlanta at one time.
You question: Will the value come back...YES