Ozman,
PD is correct in that peak pricing hit different areas at different times. In your hood it was Spring/Summer 2004. By the way, there is a house on Calle Oliva (I’m sure you know which one) that sold for 1.35M in 2004 and resold for 1.16M last year. Throw in 3 years of inflation at 3 to 4% and that looks like a real (not nominal) loss of around 30%.