When you found it were you shore diving, boat? The only dives ive been on are the ones the dive operators take you to. The kind that have been dove 1000 times. Common sense tells me that i probably wont find anything there, but i dont really know. Were you looking for the wreck or just stumbled on it?
Finding shipwrecks usually starts with the research, if you find a wreck by chance then you are a very lucky dude. Here in Nova Scotia we have several ship wreck lists to go to on line, this is a good starting point. Once you have selected a wreck of interest then start going through the archives (there are a lot on line now) and look in the newspapers for the area that it was known to have go down in. Then you can start spending your money going to the area and diving. If it is a newer wreck you can ask some of the local fishers in the area if they know of the wreck or any others.
Using something like side-scan can help depending on the bottom profile but these things are pricey. Boat towed metal detectors and Mags can also find wrecks, again pricey and will have you diving many, many non-wreck hits.
My advise after doing as much research as possible, get in the water and start looking.
We do most of our diving from inflatables, they are cheap to operate and easy to transport and can get you to places that no captain would ever take a fiberglass or wooden boat.
There is no way around it, if you want to find wrecks it will cost you $$$, how much you want to spend is up to you.
We are on the hunt this weekend for a couple of wrecks as well as other things. Weather permitting we will do well. I will post a report when we return and let you know how we did.
ZDD