Do want a little privacy?

If you don't like neighbors, but love a view, I've got a house for you. 20575 Stage Rd, this 3580 s/f house sits up in the hills just south of Lake Elsinore. The house has 5 bedroom, 3 baths and looks like it is pretty well upgraded and it looks like it has a pretty fancy pool. The lot is just over 21 acres! That's not a type I really did write "twenty one" acres. There is not data on what it sold for previously but it's bank owned now and you can have it for just over $450k! Hell that's just over 20K per acre and they throw in the house...... I wonder what's wrong with it?

For prices it's a new year, and that's 2001

2003 price roll backs are getting too easy to find. I thought I'd be a little more ambitious and look for 2002 rollbacks. I decided I would take a look to the south since I don't go down there much. I looked in Lake Elsinore, Wildomar, Murrieta and the surrounding areas. Surprisingly I found some and even more surprisingly I found some 2001 price rollbacks.

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.