Atlanta, GA Real Estate Market Outlook

[Kavian Anderson-Spells]

My first post! 

I'm a newbie looking for my first deal. I just started reading The Ultimate Beginners' Guide to Real Estate Investing and I ran across the explanation of the Real Estate Market Cycle. My question is, where do you think the market cycle is for the Atlanta, GA area? I understand that every county/zip code can be different so if you want to go into a specific area, please do! 

Refresher:

The Peak: Prices are at an all-time high, inventory is down. Multiple offers are common, even above asking price

The Tipping Point: Prices begin to fall. Foreclosures begin rising

The Decline: Proces continue to fall, foreclosures flood the market. There is a fear of buying

The Bottom: Prices bottom out, there is excess inventory. Deals are plentiful and cash-flow is at an all-time high

The Climb: confidence improves leading to more sales. Declining inventory and rising prices.