anyone can speculate, but, one will only know when they submit an offer. The good thing is that there is a lot of opportunities for buyers in Temecula. I am currently working with clients looking for investment homes in the Redhawk, Paseo Del Sol and Vail Ranch areas of Temecula and there are a lot of properties very much under $300K, but, in order to get down to brass tax, one has to get down to submitting an offer.
The benefit of working with a Realtor is having someone working with you as a Buyer's Agent (no cost to you) and providing vital decision making input, such as Market Value of the property, type of sale, what is owed on the property, etc. In addition a Realtor will let you know what factors lend themselves to making your offer as strong as possible.
I am a resident and Realtor in Southwest Riverside and very aware of crucial information pertaining to this area, such as property taxes, special assessments, schools, etc. If you are looking for an area expert let me know.