Schiller says the neighborhoods that protect homeowners' values the most are those that combine good job opportunities and amenities in ways that are unusual for the area.
For instance, if you live in or around a metro area with poor schools overall, buying in a neighborhood that has good schools can keep your property values high even as the surrounding area falls.
Schiller cites the examples of Belle Meade in Nashville, Tenn., and Beverly Hills, Calif., both of which enjoy the access to opportunities of nearby urban centers, but also have amenities like excellent public schools and low crime rates that set them apart.
"These places just go out of control as far as value," he says, weathering housing downturns much better than average.