I put together a short market update in addition to the advice below.
Hope you find it useful. There are still multiple offers, but maybe it is not as many as before.
June 2012 to June 2013 Listings are down approx. 25%
Median home selling prices;
Possibly due to supply and demand, prices in some areas are higher than the peak of 2006. Most of that increase came in 2013.
Sit down with a Broker and discuss your needs and the market conditions in your price range.
Multiple offers continue to be the order of the day.
"Rimmy" Gurinder Sandhu
You're correct, the market vastly affects how you make a bid and the terms you can set. If you still want to purchase a home right now, you still have to be very aggressive in your offers. Work with an knowledgeable Realtor to walk you through the best ways of doing so. Also, location matters great. Parts of Fremont have been on a scalding erupting volcano of appreciation, while some others have just been hot. I know purchasing a home in Fremont right now can be very difficult, but I wish you the best of luck.
P.S. check out my latest blog article that describes some other factors that are going to be affecting the market very soon.
The market is still very good in Fremont, and the Bay Area.
Depending on the price, condition, and location there are overbidding. But maybe not on all properties. You need to work with your Realtor very closely in today's market and work together and you'll find a great home.