In Chino you can pick up a postage stamp for $345K. Included in the purchase price is a 2103 sq/ft, 3 bedroom, 2.5 bath home. This home and it's teenie weenie lot (3102 sq/ft) were purchased Sept 2005 for $504k. The bank is trying to unload this now for $345k. A rather unimpressive (by this blogs standards) 32% fall in 2.5 years. Of course peak prices were a year later so this thing was probably worth $650k around the summer of 06.
By the way, another fine composition by the photographer. Way to make the mail box stick out like a sore thumb! Just a suggestion, next time take the shot from the other direction and leave out the mailbox.
I guess a 3000 sq/ft lot is great if you hate yard work.