Our main concerns were:
1) In our price range
2) Near the bus lines between a transfer point and downtown
3) Not in need of immediate repairs

We got all those.

Our bonus desires were:
1) Near the bike paths (yes)
2) Near parks (yes)
3) Near shops and restaurants (no so much, but not terribly far either)
4) Close to friends (sort of)
5) Adequate room for the kids (at first yes, but there is no such thing as enough room for a teenager)