It is true no one can for tell the future.
I am here locally and I believe it will rise starting in late 2012. It will take some time after that but you should start to see it them. Please keep in mind the world can stop turning between now and then but if you can wait I would. If you are planning to sell and then buy and the prices are similar it is a wash. If you are considering downsizing later it may be a benefit. if you are considering up sizing it could cost you more. If you think the community will get better that matters. if you think the community will go to crap in a hand basket well,....
I will say for the next 6 months you will see it stable for home 230,000 and below. For homes over 450,000 you will see a drop in the near future and for the next couple of years.
Harold Sharpe - Broker
So Cal Homes Realty
California Department of Real Estate License # 01312992