I’ve said this all before, but i say it again. In this area, I feel rents are falling, housing prices are falling, and condo prices will fall too.
Personally, I don’t like that location due to its proximity to Pechanga and I just would rather avoid south Temecula, but that is just me, and I know I am in the minority here with that viewpoint. I’m sure you could rent a condo or even a home in Harveston, which also is close to the freeway for less…. http://inlandempire.craigslist.org/apa/628624722.html
I wouldn’t pay that type of money to rent a condo, there are too many homes for the same amount that offer way privacy and space. I’ve seen some fixer 3/2 homes IN Temecula for under 200k, and I expect to see MANY more in 6 months or so. I’d say hold off and rent, and drive a hard bargain too.
