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This is what we just received from our realtor in an email... We will be lowering our price again, and we pray that this is what is needed to get it sold.

To view the full So Fulton Mkt Watch, go to >> http://SoFulton.BushRealEstateGroup.com

So Fulton has sustained the 2nd most devastated real estate meltdown within the 9 county southern crescent region posting a 42.6% decrease in average home sale prices just in the past 3 years.

YTD 2010, So Fulton home sales posted a unit decrease of 13.7% compared to 2009 through the first 7 months of '10. Like all surrounding counties, a huge portion of unit sales are a result of investor purchases of the under $100K price segment which has skyrocketed in 3 yrs from 13% of total sales in '06 to 53% YTD '10, a 302% increase. Foreclosures are setting new records each year, mostly in the less expensive price points. Consequently, if you are only looking at total unit sales, you'd think So Fulton is close to bottom and is on the cusp of a rebound. Once we see from where those unit sales are coming from (see 2nd table, "Sales by Price,") then we can quickly see that traditional sales (non-distress, non-foreclosures, non-short sales) in So Fulton hasn't hit bottom and it is nowhere near a rebound.

Additionally, note the free fall of avg prices from $170K in '06 to $97K this year, a 42.6% decline. Again, that is a product of the unusual number of "under $100K" homes as a percent of total sales continuing to increase thanks to another record breaking year for foreclosures.

The good news; So Fulton has the 2nd lowest months supply in the 9 southern crescent counties, (just behind Clayton), posting a 9.0 months supply as of Aug 1. A 6 months supply is optimum.