Here’s one in Murrieta that is only $111 per square foot, $395K for 3547 sqft:
http://www.redfin.com/stingray/do/printable-listing?listing-id=830148

There is something fishy about it: it’s been listed for 58 days but it sold for $618K on July 11, much less than 58 days ago.

Here’s one that is offered for less than it sold for in May 2003:

http://www.redfin.com/stingray/do/printable-listing?listing-id=845420

And it seems to be in good condition. The asking price of 350K is less than the purchase price of 360K in May 2003. It seems that four full years of bubble have now been reversed.