It used to be optional to geolocate a story. We have now made it mandatory. We have also changed the location page of the story creation wizard to be more intuitive. On the location page, all you have to do is type the address of the story in the location field, hit ENTER, then the map will be placed at this location for you. You can refine this location by dragging the marker to the correct location.
A subtle point which you may be interested in knowing is that the text location doesn't have to match the geolocation on the map. As an example, you might want the location to read "The hall at the back of the local school, Charleville". This location won't geocode to an address. So the quickest way to assign a location to this story would be to enter an address in the location field that will geocode (such as "142 School St, Charleville"). Then, once the map marker is in the right place, go back and change the location field to "The hall at the back of the local school, Charleville", and continue to the next step in the wizard.