Real estate in 2010

There are a ton of predictions out there, most of which are from people with some sort of an interest in the outcome. Watch out for news from people selling something. Let's look at some facts and then you can make up your mind.
The tax credit for first time home buyers goes away in April. Right now in San Diego people are scrambling to buy before this tax credit expires. Will the scrambling cease? There are other factors to consider.
Multiple offers are currently the trend. Houses are being bid up $10K, $20K, $30K and much more. Partly due to the tax credit, partly to do with the low prices and partly to do with the historically low interest rates. We know when the tax credit goes bye-bye. Will rates go up? Eventually, but I don't know when. I want to meet the guy who does know for sure. What will all of this do to prices and when?
The moratorium on foreclosed properties is supposedly up in March and is supposedly (using that word a bunch due to everyone doing some heavy guessing, but this is what they think) going to release some 5000 properties in the San Diego area. I do not know (I'd ask that same guy who knows if the interest rates are going to stay low) if those properties are coming on the market all at once, if some of them have been re modified or sold in a bundle to some investor. I just do not know. Then why did I bring it up? Oh yeah, those properties coming on the market will effect the supply and demand, supposedly.
Appraisal is the new dirty word in real estate. These multiple offers that used to drive up prices are now being put in a head lock by appraisals. It's not the appraiser's fault (I still have to get mad at someone), their hands are tied. They have to use comparables of recent sales to justify value. Supply and demand (unlike any other industry in the universe) does not come into play. the appraiser has to protect the bank from making a bad loan (that's part of the reason we are in this crazy mess).
Foreclosures and short sales will still be around.
Loans were really hard to get done in 09. Appraisals were part of it, but that wasn't all of it. Banks were changing the rules so fast their own lenders and underwriters couldn't keep up. I did more yelling, threatening, begging, cussing and butt kissing to my lenders than in my 11 previous years of being in real estate. I hope the banks have found some formulas that they are comfortable with because I'm exhausted and my lips are chapped.
Any predictions?