There are builders offering new homes with similar square footage (3000sq ft.) for around 420K, I’m sure thats negotiable to around 390K currently.
I would expect it to go down a lot further, especially for 2003 homes.
BTW on a different note, people who are knowledgeble about the temecula market, how would you rate the different builders as far as quality and customer care goes? And how is Lennar’s building quality, I was researching about them when looking at some of their new developments and saw a lot of articles on the net about their poor building qulaity, lawsuits etc.