Which factor is an example of buyer preference that can impact real estate values?

Location convenience is a significant factor influencing buyer preference and consequently can have a profound impact on real estate values. Buyers often prioritize properties that are located near essential amenities such as schools, workplaces, shopping centers, and public transportation. The perceived desirability of a location can drive demand for properties in that area, ultimately influencing prices.

When a location is deemed convenient, it adds to the property's appeal, making it more attractive to potential buyers. This increased demand due to buyer preference can lead to an appreciation in property values over time. Additionally, areas that offer a higher quality of life, safety, and accessibility typically see more robust real estate markets, underscoring the importance of location convenience in the valuation of properties.

Other factors like property taxes, market competition, and environmental impact assessments may also affect real estate values, but they do so in ways that are more related to costs or regulatory impacts rather than direct buyer preferences.