Whoever came up with the phrase location, location, location was either very insightful or getting paid by the word. Its probably the former, as most realtors still use it as a key criterion in guiding you through the MLS listings. Thats because the neighborhood you select can be just as important as the home you purchase.
Sure, a big part of that is protecting your resale value. Theres a lot more to it though. The area you settle in has many other ramifications for you and your family beyond the financial. While a skilled real estate agent will give you many things to think about in deciding where to live, it helps to ponder some of them yourself before you wander through the MLS listings.