Location.  Repeat three times.  

the one fact would depend on what kind of property it might be....

a rehabbed home would be "totally renovated"....

a property in need of repair would be "fix and flip"....

two bedroom home might be " starter home"....

and on and on....

Michael Jacobs is correct. All this time, the public has thought location was key to commercial real estate, but the same hold =s true for residential, as well as, all real estate.

Its a house until someone lays claim to it. Then, it is a home indeed after that

Every home is unique. If you are looking for one thing ... I'd be concerned you may be missing something ... it's like picking one thing on a body ... it is all connected.  Be careful out there. 

Depends on a home and what is important for a client. If clients want a big yard/or modern kitchen/or whatever, that is what they need to see first. 

I don't think there is ONE THING but Michael Jacobs has great input

That's almost an impossible question as the answer to this would differ from house to house. Location is important, but so is asking price based on neighborhood comps.

In my opinion - one fact on its own regardless of other facts would only give an incomplete and possibly misleading insight into a property.

I think that would depend on the buyers wants and needs.

#1 would be location, as in our community it is that unobstructed 'mountain view' and price might or might not be #2 Kyle Volenik. 

Each consumer has different interests and requirements and one fact may or may not appeal to each consumer.

Location is key information.  

Kyle Volenik As Michael Jacobs pointed it all boils down to location, location, location.

Kyle,

what is insightful is directly related to the buyer.

Kids in school, stretching retirement savings, risk adverse, a Francophile, or one suffering extreme paranoia. 

For each of these, location IS important but not for conventional reasons.

So the first task I have, in order to help them, if recognizing who they are trying to make happy then work from there.

I would think the location is the most important.

If limited to one thing then it may be, how is it priced?

High, Low, or Priced just Right.

Michael Jacobs  said it right - one thing you cannot change is location

Too many variables and it depends on who wants to know (meaning their taste and preference).

When listing a home, I do ask the homeowner what made THEM buy the home, and usually include this in the marketing.

My "best advice" to home buyers to think of where they will spend the most time and make sure they LOVE that about the house.  Sometimes it's a big kitchen, sometimes it's the dock and sometimes it's a screen porch.