I may be able to provide some insight here. I have lived in Murrieta for 20 years and own businesses in Temecula and French Valley so I am very familiar with all 3 areas. I sold both my primary residence and rental property a while back and I am sitting on the sidelines watching the carnage from my 4000 sq ft Murrieta rental McMansion. (BTW my landlord is negative close to $2000 a month so I’m sure it will be added to the REO list soon.)
When I do buy again it will be in either Temecula south of 79 (now Temecula Parkway) or Murrieta west of the 15. Its all about the weather, there is a dramatic difference between areas that do and do not get the afternoon breeze in the summer. French Valley is noticeably warmer.
All 3 areas have excellent schools, French Valley has a Winchester zip code but it is lies within the boundaries of the Temecula school district.