On the other hand, Mead Point waterfront HAS appreciated

28 Windrose Way, last asking $8.250 million, is reported as pending. Owners paid just $6.5 for this place in 2011 (down from an initial 2009 asking price of $17.5,but never mind), tore down the existing building and remarketed it as a waterfront building lot, and seem to have done just fine.

Waterfront in our best gated-communities has always been a pretty safe bet.