'02 rollback in Laguna Canyon?

Surely we jest - a near 2002 rollback in the city of Laguna Beach? It just may be correct - provided the short sale can go through, that is.

21398 Stans Lane, 92651
Asking price: $525,000
Asking price/ sq ft: $493
Purchase price: $515,000
Purchase date: 8/5/02
Size: 2 beds, 1 bath, 1,064 sq ft (built in 1965)
MLS: S573581 (49 days on Redfin)
Type: Single Family Residence
Style: Bungalow
Stories: 1
Lot size: 7,480 Sq. Ft.
From listing: From CA-133 turn east onto Sun Valley Drive then turn left to stay on Sun Valley Drive then turn right on to Stans Lane to 21398 Stans Lane, Laguna Beach, CA. 92651

The Redfin history says this property went for $375,000 in 2001 and then $515,000 in 2002. Whatever the actual details, since it's a short sale we know the debt on the property will not be exhausted if there is a sale. It's up to the bank to decide - is it 2002 again in Laguna Canyon?