Anthony, median 89448 home values peaked in October of 2006 right at $900k. As of May 2012, Zephyr value has fallen nearly 50% to $460k, and continues to fall roughly 1% per month (with an occasional meaningless uptick). Based on a deepening Euro-recession and bailout frenzy, worsening global debt overhang (expect $20T U.S. debt by 2015), and a huge remaining backlog of bank-owned homes waiting to be listed, I predict Tahoe RE values continuing to fall into 2015, and then wallowing in bargain land for some years thereafter. My Zephyr forecast is $360k by 2015, roughly 1999 all over again.
Then again, nobody can predict the future.