Many think that the economy is the major factor impacting real estate appreciation. After all, interest rates, unemployment, business growth, government programs and a handful of other national determinants have a measurable impact on your home's worth. However, your house's value and the features that play the biggest role in its appreciation are specific to the local Mission Viejo economy and housing market.

Access to services - Proximity to work and schools also have a great influence on most home buyers' decisions. So when it comes to keeping their value, these areas usually appreciate much more reliably than areas lacking key features.

Recent home sales - You should receive facts and figures on the recent real estate sales in the neighborhoods that you're interested in from your real estate agent. You'll need to analyze data like how long a house stays on the market and asking price as opposed to selling price.

Appreciation history - Have property prices gone up or down over the last 5 to 10 years? Is the community considered desirable because of its location or affordability?

The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a nice combination of work in an area, or does it count on just one industry? Is the blend of commercial and residential zoning changing? Each of these pieces plays a role.