My take: it depends on how good is the second choice

you have to really understand what "location, location, location" really means. (wonder how many people really knows its full meaning). i do not know either. people just like to throw and hear jargons.

BUT i know it does not mean you should always buy at the BEST location. You pay a high premium just for the EBST. People make choices when weighing factors of price, location, affordability, square footage, etc. Naturally a market is formed, various people buy and live at various areas.

Do not think you are a fool if you did not get the BEST. Actually if your second choice is good (not the best), it may be a good deal. As long as it is not a crummy neighborhood, may be it is a smart choice.

JMO

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