31669 Canyon Ridge DR, Lake Elsinore, CA 92532, this 4 bed/2.5 bath home was sold in mid 2001 for $260k, again in 2003 for $325, again in 2004 for $425 and it's for sale again in 2008 for....back.... back....back in time we go to 2001. It's for sale for $275k! Right back to 2001 prices.
23065 Empire Penguin RD, Wildomar, CA 92595, this 4 bedroom home with a nice pool was built in 2002 and sold for $310k. In addition to the pool it has a "Gormet, built-in barbeque", gawd I love illiterate realtors. But I digress, today you can buy it for $290k. $20k less than it sold for in 2002.
35381 Perla PL Wildomar, CA 92595, is a nice looking 3/3 home that's just over 3000 s/f. This one sold new for $249k in 2001. Today it appears to be bank owned and you can get it for $295 ($97 s/f). That would probably put it back to early 2002 prices.
40139 WHITE LEAF LN, Murrieta, CA 92562. I listed this one just for fun. This home was built in 1989 and sold new for $238k (Murrieta and Temecula were actually on the spendy side back in the late 80's compared to Corona and Riverside). Today you can buy this home for $61k more than is sold for 18 years ago. That equates to an annual rate of appreciation of 1.25%. Now do you believe the NAR when they say "Real Estate is you best investment". ONE POINT TWO FIVE PERCENT over the last 18 years. AND, that is assuming they sell it for the $299k it's listed for. It would not take much of a discount to wipe out that paltry 1.25% gain. Looking at the pics this home looks old and dirty inside so I would not put any money on them fetching the asking price.I found about a dozen of these 2001/2002 rollbacks without looking too hard. Makes you wonder just how far back the prices will go.