location... location... location...?

Price, Location, Amenities.  That seems to be the right order. Veronica

I find that in a hot market, the premium/discount on location tends to narrow: everything sells.  In a slow market, the premium/discount on location tends to widen.  The very good locations tend to still sell.  The only way to sell the less desirable locations is at a fairly steep discount.  Buyers become very choosy about location because they can afford to be, with so much inventory.  In addition, some buyers recognize that a down market is a unique opportunity to buy in certain neighborhoods.

In sum?  A down market means location is more important than ever.  IMHO.

Schools, price, location .......they are all important.   Now,  think folks are going closer to the job because of gas prices, and getting less house!!!!

Location I think incorporates schools, crime, shopping, freeway access.  But price is definitely driving the market right now.  Especially for first time home buyers.  People who have purchased before, know more what they are looking for and what is important to them.

I think in a sellers market like we had a few years ago, buyers would overlook location issues. In this market, the house with the location problem just sits and sits.