Dawn, homes on canals have undergone a similar though not as drastic downturn as those homes not on water. The simple reason is that home with a USP, or Unique Selling Point, wil always hold their value better than those that just blend in with the same cookie cutter build. For instance, golf course home, live/work communities, and resort communities will always do well because they have added value. The same goes for waterfront homes, let's face it there is no more waterfront being created any time soon. As for gulf access, it does hold up, but there are also some tremendously affordable freshwater homes to be had at the moment.
To compare and contrast these please visit http://www.Hope4HomeBuyers.Listingbook.com
and see for yourself.
Neil G. Blair-Bennett
Alliance Realty Group
14090 Metropolis Avenue, Suite 206
Ft. Myers, FL 33912
Direct Line: (239) 645-3798