Exactly! And expecting values to rise much right now might be a big mistake. I just talked to a friend that is in home construction in the Seattle area. He is VERY upbeat but when you really drill him he admits that things have "flattened".
I think of this flattening as what happens to the trajectory of a model rocket when it's fuel has expired and it reaches the peak. It seems to just sort of hover there for the briefest of moments and then...
LOL! Being a former model rocketeer, I can relate. The area I live in never benefited from the bubble, so property investment was never on the table.