A short, clear, positive analysis for home-buying in 2012 from CNN, in video form:
Should You Buy a Home in 2012?
http://money.cnn.com/video/pf/2011/12/21/pf_ate_real_estate_outlook_2012.cnnmoney/
Due to our particular economic circumstances in San Francisco, I suspect we shall see a significantly higher uptick in values than what CNN projects for the country as a whole. San Francisco often leads the way out of downturns in housing/economic cycles and that looks to be the case now.