Canyon Lake is a beautiful very well maintained, gated community with lot's of great residents and fantastic amenities. I was actually one of the first persons to ever invest in Canyon Lake in 1969 when it was first opening. I actually purchased my lots for $7400 ea. Unfortunately I sold them just a few years later but more than quadrupled my ROI so it wasn't a bad investment.
However, had I waited until 2003 I would have made killing and probably wouldn't still be hustling RE today. I have several friends who purchased when I did, have raised their families there and continue to live there today. One of my best friends a retired OC Chief of Police has lived there for years and couldn't think of a better place to enjoy his Golden Years. Good Luck.