Coincident observations with gravitational wave (GW) detectors and other astronomical instruments are in the focus of the experiments with the network of LIGO, Virgo and GEO detectors. They will become a necessary part of the future GW astronomy as the next generation of advanced detectors comes online. The success of such joint observations directly depends on the source localization capabilities of the GW detectors. In this paper we present studies of the sky localization of transient sources with the future advanced detector networks and describe their fundamental properties. By reconstructing sky coordinates of ad hoc signals injected into simulated detector noise we study the accuracy of the source localization and its dependence on the strength of injected signals, waveforms and network configurations.