I know there are hundreds of threads on this topic and I have posted many times. But as I seem to take a different view to many of my fellow hosts (and I enjoy the banter– please be gentle!). Let me explain why in my humble opinion location is important and why we are missing the point.
I should also declare. Location is probably my properties best asset and I do not want to lose the high rating.
We are guilty as hosts, of not looking at location from the guest perspective. As a traveller disappointed on numerous occasions by locations not meeting expectations, it is not what is shown, it is what is not shown. It is the subjective issues like neighbourhood, community, convenience, peacefulness, accuracy, ambiance, desirability, connectivity and access etc. And we all make those value judgments (based on price) differently, instantly and automatically.
So my argument goes. Guests mostly base the location rating not on the map location (which is clear to see) or description; but the gut feel, softer issues listed above and this is very useful information for fellow traveller.