That's been a real estate catch phrase for years. Once upon a time it was true. A nice location fetched a premium over a poor location. During the bubble years however the line between a premium location and a poor one got a little fuzzy. Take 303 Madera Privado in Ontario. This home was built in 2004. It sits in a small gated tract with community pool and spa. Sounds good so far right? During the bubble years that was all it took. This home sold new in 2004 for $476k. It sold again a year later for $640K.
But now that the bubble is over the location is coming back to bite this home. Taking a closer look you quickly see this small tract is surrounded by appartment complexes. There's no nice way to say it, but it's not in the best part of town. It's more like, in the best part of the barrio. Another huge problem is the fact that you can hit a golf ball from the house and reach Ontario Airport's runways. It's a perfect location for a deaf family, but for people with ears that function this has got to be a serious irritation. The only good thing I can think of about the location is there's an In n Out Burger close by.
If you are deaf and looking for a nice house in the barrio you may want to check this one out. It is currently listed at 52% off the last sale at $305k. (still too freaking high btw)