The project's long-term objectives include
returning a launch vehicle first stage to
the launch site in minutes and to return a
second stage to the launch pad following
orbital realignment with the launch site
and atmospheric reentry in up to 24 hours.
https://en.wikipedia.org/wiki/SpaceX_reusable_launch_system_...However, from other sources:
SpaceX would love to recover the second
stage, which they had planned. But it
sounds like they have given up on that.
http://space.stackexchange.com/questions/7814/what-happens-t...What they are referring to there is a transcript I have been unable to access. It's here:
http://shitelonsays.com/transcript/elon-musk-at-mits-aeroast...
More discussion about it all here:
https://www.quora.com/Could-SpaceX-feasibly-recover-the-seco...
https://www.reddit.com/r/spacex/comments/1zg7zm/how_soon_can...
https://www.google.co.uk/search?q=space-X+recovering+second+...
Apparently they are no longer pursuing stage 2 reuse on the Falcon 9. The next gen superheavy lift rocket, the BFR, is intended to be fully reusable though.