Will "California Dreams" ever be released on DVD? 

Seasons 1 and 2 came out on DVD March 31, 2009 and Season 3 will be released on May 18th (exclusively on Shoutfactory.com's website as a DVD-Select title.

Do the "California Dreams" have a CD out? 

Yes, the Dreams have a CD out but only of the 1st season.. The 2nd CD, "The California Dreams Anthology" was made as a gift and not for the public.   (Although sometimes you will find them on eBay). I have put all the songs up in "Lorena's Loft" section available for download.
 

Where can I find the CD to season 1? 

Your best bet is to try various online websites (like eBay, half.com, etc.) - its Out of Print and might be hard to find. The "California Dreams Anthology" is a VERY RARE FIND.  It sometimes pops up on Ebay (either as an original or a copy) - this usually goes for big $$$.  It was only created and given to the cast and the crew of the show and not available for sale to fans. 

Do they really sing the songs?

I have heard yes and no.   Recently, new information has come out that the singing voice for 'Jake' was really Barry Coffing and for 'Mark' it was Zachary Thorne ('The Heights' soundtrack).

Do they play their own instruments?

From what I know, they all play their instruments. I do know that Aaron plays the piano/keyboard, drums, etc. (Source: He said it on the dating game show "Bzzz!"), Kelly learned a little about the bass, just enough to 'fake' playing on the show (Source: She mentioned this on a talk show, I believe it was "Later" with Joe Rogan, I think). About Jennie Kwan and keyboards, I'm not really sure.

Is there a chat group or a fan club I can join?

On LiveJournal - ca_dreams

On Facebook - California Dreams Appreciation, The Peter Engel Project, A group for all the people that remember watching California Dreams

On Myspace - http://www.myspace.com/surfdudeswithattitude  

Are there any books on the "Dreams"? If so, where can I get them?

There are a few books out there written by a Chelsea Brooks. There are nine (9) of them and they are just stories that were never made into shows. Most are hard to get a hold of, mostly they have to be ordered. Some titles are listed at Amazon Books. I have a found a few of them (for cheap!) on Half.com. If you would like descriptions on these stories, go to the Books page.  There is another book titled "California Dreams: Behind The Scenes". It was published in July 1993, so I don't think it includes Jay Anthony Franke (Jake) or Jennie Kwan (Sam). Another book entitled "The Totally Cool California Dreams Scrapbook" by Stacey Fox, is also listed under Amazon Books. (All books are hard to find and out of print)

Are there any stories written by fans about the show? (Fan-fics)

Yes there is, but the fan-fic page of Rick's was deleted off of AOL in 2008.  Trying to recover of the completed stories to recreate a section. 

Anyone have their own official website?

Jay - Jay Anthony Franke (not updated in a LONG time)
Brent - BrentleyGore.com
William - WilliamJamesJones.com
Michael - MichaelCade.tv

Jennie - JennieKwan.com