Is there any more important rule in real estate than, "location, location, location"? In case you've been living under a rock, that's the answer to the question, "What are the three most important factors in buying a home?" The basic idea is that it's not the Sub-Zero fridge, the spacious deck, or the fancy faucets that dictate whether a home will hold its value. What matters most is where it's located.
USA Today proves the point yet again today with new findings from a Coldwell Banker survey. The survey looked at similar houses -- all with four bedrooms, 2 1/2 baths, a family room and a two car garage -- and compares how much they cost in 384 markets around the world.
The most affordable place in the U.S. is Minot, North Dakota, where a four-bedroom home lists for $132,000. The least? Beverly Hills, Calif, where the price tag is $1.8 million. Take the trends abroad and you can pay $1.8 million for that kind of house in Milan, Italy, or just $56,500 in Bogota, Columbia. The average sale price in the U.S. is $424,000 (you can parse all the data here).
What good does this information do you? Well, if you just paid $2 million for a split-level in Greenwich, Conn., and are worried you bought at the peak, this data may make you feel better. At least you bought in a premium location that will hopefully hold its value.
Better yet, if you are thinking of trading down, a handy tool at the Coldwell Banker site allows you to crunch this data and see how much a home comparable to your own would cost anywhere else in the country. For example, you can trade in that $2 million Greenwich home for a similar $278,000 house in Amarillo, Texas, should you one day decide to head to cattle country with plenty of free cash in hand.
The Big Three come together to discuss the global balance of power. 
Will Rich Ross really have a positive impact on Disney's movie operations?
Consumers sick of recession, may spend extra on holidays
Corrections, seasonality and Santa Claus
