Have we hit rock bottom?

Have our prices finally hit rock bottom? I am starting to think so, or at least very close to it. Our prices on single family homes in our area of southwest Florida are back to early 2004 prices. Sounds like the right time to buy up some of this real estate before the cycle starts all over again. I think once all the investors believe the prices will not go any lower, they will be coming out of the woodwork. Well, only those investors that did not lose all their funds and good credit standing in the recent real estate down cycle, that is.