@farmerman,
Right now, the four giant volcanic cones of the Tharsis Plateau stick out into space--I suppose you can call the exovolcanoes. Of course, they are three times the elevation of Mt. Everest. This shows Olympus Mons--just off the northwest shoulder of the plateau--with the two largest moutains on earth in the foreground:
That's an artifact of the lower gravitational influence--.38 G as compared to earth. The Ecchus cliff has an elevation of more than 13,000 feet. Something like that on Terra would fall over from its own weight.
The lowest large area on Mars is the Hellas Basin. It was formed when a planetesimal struck the planet, coming in low and from the east. (Most, but not all, objects in the solar system move from west to east.) It was a fair sized object, too--between 125 and 130 miles in diameter. The basin is a rough circle about 1250 miles in diameter. The Hellespontus Montes (Hellespont Mountains) are really gigantic shatter cones thrown up by the impact--they're all on the west side of the basin. It is believed (and has not been confirmed) that atmospheric pressures at the bottom of the basin are 18-20 millibars, as compared to the 10-12 on most of the surface of the planet. Tunneling into the walls of the basin to build habitats might be a good idea. It's in the southern hemisphere, so the winters are the coldest, and the summers the warmest--but before there's anything like a dense atmosphere, it's going to be as cold as a well digger's ass no matter well you set up. That's one hell of an impact crater.
Initially, one could set up in the Hellas Basin, and if the atmosphere were beefed up, it would be the first place where an animal hospitable environment could be created. Don't forget the giant insects, though.