Location, Location, Location...but what about it?

It's a common saying in the Real Estate world but what exactly constitutes the best location?

Here are a couple things to look for:

• Quality of the neighborhood: drive by at different hours of the day and look for littering, loitering, and any unusual activity.
  
• Proximity to establishments: is this house close to work, grocery stores, desired schools, parks, shopping, freeway access?
  
• Physical Location: preferably not on a "T" intersection to prevent the possibility of cars crashing into your house (it has happened)
• Tip to remember: you can always change the physical house but you can't change the location (ex. the smallest house in a good location is a smart investment compared to a big house in a bad location)