I’m really starting to believe that by the time the dust settles we are going to see 2001 prices in Temecula/Murrieta. The years are melting away. Its fairly easy to find homes priced for less than what they sold for in 2003. I haven’t found any that are below what they sold for in 2002 but we are getting close. Look at this one http://www.redfin.com/stingray/do/printable-listing?listing-id=1294585. This home is priced about 10% higher than what it sold for new in late 2002 . This is a nice home in one of the best neighborhoods in Murrieta. If you visit the link check out the sale history. It appears there was some mortgage fraud involved with this one.