Making a splash in Canyon Lake

The basics

Three miles east of Interstate 15 at Lake Elsinore, Canyon Lake was created by a dam in 1927 and is owned by the Elsinore Valley Municipal Water District. The Canyon Lake Property Owners Assn. leases surface rights to the lake for recreation.

The first houses were built in Canyon Lake in 1968, primarily as retirement and weekend homes. The city incorporated in 1990 and now has 10,500 residents. Although there are still a number of second homes in Canyon Lake, the city also has a growing full-time population of families, professionals and self-employed workers, according to Realtor Maria Suttle of Prudential Canyon Lake Realty.

Drawing card

Fifteen miles of shoreline and more than a dozen lakeside parks, fishing holes and beaches exclusively for residents and guests are Canyon Lake’s primary draw. There are more than 2,000 registered boats in the city and dozens of clubs, from wakeboarding to softball to square dancing.

Good news, bad news

Because it is a gated community, Canyon Lake consistently ranks as one of the safest cities in Riverside County. Realtors say a disproportionate number of firefighters and police officers choose to live here for the security it provides their families while they are away on extended work shifts. But dining and shopping opportunities are limited, and residents must drive 25 minutes or more to Temecula or Riverside to find regional shopping malls and a wide variety of restaurants.

Insider’s view

The property owner association’s annual assessment of $1,620 applies to homes, condos, mobile homes and bare lots and covers the maintenance and upkeep of the recreational facilities and common areas, including the recently constructed 19,000-square-foot Lodge, which houses a lake-front restaurant and community meeting rooms.

Perhaps the most significant restrictions imposed by the association are that property owners may have only one boat of each class, such as a sailboat, pontoon boat or speedboat, and no motorcycles or personal watercraft, such as jet skis, are allowed.

Report card

Several schools in the Lake Elsinore Unified School District serve Canyon Lake. On the 2002 Academic Performance Index, school rankings included Railroad Canyon Elementary, 702; Tuscany Hills Elementary, 766; Elsinore Middle School, 644, and Temescal Canyon High School, 640.

Historical values

Single-family detached resales:

Year...Median Price

1990...$170,750

1995...$133,000

2000...$190,00

2002...$255,000

2003*...$305,000

*year to date

Stock report

There are 4,803 parcels within the gates of Canyon Lake; all but 490 of them have been developed. Two dozen multi-acre estate homes and lots, a mobile home park and a condominium complex lie just outside the gates of the community yet are within the city limits. These owners pay the same association fees and receive the same access rights as other property owners inside the gates. There are five more condominium complexes inside the gated community. The rest of the housing is single-family residences.

Hot spots

Canyon Lake’s single-family housing stock is essentially custom homes, ranging from modest late-1960s era weekend retreats to new multistory waterfront villas. The most desirable property is, of course, on the water.

The lowest priced waterfront home is currently $455,000, and the highest is $1.35 million, according to Realtor Carolyn Bushey with Prudential Canyon Lake Realty. Elsewhere in the city, four-bedroom, two-bath homes start at $325,000. Condos range from $165,000 to $310,000 and require additional association fees.

On the market

In late June there were 100 homes on the market, ranging from $165,000 to $1.35 million, Bushey said. There are 24 vacant lots on the market, starting at $69,900.

Sources: Canyon Lake Property Owners Assn., Prudential Canyon Lake Realty, www.canyonlakepoa.com, www.gate88.com, www.canyon-lake.ca.us, api.cde.ca.gov.