Temecula is a planned community that was designed by the same folks who designed Irvine.
Personally, I think the Temecula/Murietta area is fairly priced in relation to the SD, OC and LA areas for which it serves as a bedroom community. Inasmuch as all those areas are horrendously overpriced I guess you could say the same for Temecula.
It’s a nice town with nice amenities, but traffic is a hassle, especially when it comes to freeway access and crossing over to get to the other side of I-15. It has the same climate as any area along the I-15 corridor; the only difference is it is subject to the inversion layer, which can bring the smog from LA in if the coastal winds aren’t blowing (mostly they do, so mostly it isn’t a problem).
The thing that Temecula has going for it in the long term is that eventually there will be a lot more employment out there. They have a pretty good sized industrial and business park area and it’s just now starting to reach 50% buildout. Once those areas get built out and mature beyond the motorsports enthusiasts and buildng contractors who have been buying those units they will grow the ranks of their professionals, most of whom will live/work locally. Sure, the lawyers and bankers and wireless engineers will still have to commute to the metro areas, but anyone who provides services for a living will be able to find employment in that area of the county.
If I didn’t surf (and seeing as how I don’t commute for work) I wouldn’t mind living in Temecula.