Central Valley California is an interesting market.
You see crazy high prices for medium condition bikes...
on the other hand, if you are patient a nice example will come along for a great price. Especially if it is up in the Sierra Gold Country or CalNevada area.
I think some of the high prices come from Bay Area Transplants that think the market out here can support what they paid for it in SF.
Here is one in Reno for $5200... but probably a deal if it is original and not a piece-together.
http://sacramento.craigslist.org/mcy/2607900536.html"cb 750 honda cafe racer from the day,812 yoshimura motor kit,mega-cycle cam,dunstall exit pipe,alumimum rims front and rear,"avon" half fairing from england,"dyna-s"ignition,front forks 39mm from a 1981 super sport honda,G.P. shifting,low miles on this rebuilt motor"