As outlined previously, the lack of inventory was the biggest surprise of 2014 according to a small group of realtors recently polled by the San Francisco Chronicle. Digging a bit deeper into their responses, it becomes clear that the increase in “all cash” buyers and the subsequent response by buyers relying on mortgage financing to make “contingency free” offers (i.e. no inspections, appraisals etc.) also was a major surprise.

It was also pointed out that living in such a high tech mecca has afforded the opportunity for many to become wealthy overnight as companies are sold or venture capitalists pour in an incredible amount of money.

Finally, experts expect interest rates to rise in 2015 so if you’ve been considering refinancing – do it now!