We recently acquired OpenListings which aims to make the buying experience more painless. Their service is available in a few markets in CA.
We typically only buy houses in the 100-500k price range, so buying in the range of 3-5x that is much riskier for us. Operationally, Bay Area would be much more complex as well. The value prop of us buying houses rings less valuable for the Bay Area as well, as others have mentioned.