Property Valuation
External obsolescence in property appraisal is caused by:
ADeferred maintenance on the structure
BFactors outside the property itself, such as economic decline or a nearby nuisance✓ Correct
CAn outdated floor plan
DWorn-out mechanical systems
Explanation
External (economic) obsolescence results from factors outside the property's boundaries — such as neighborhood decline, nearby industrial uses, highway noise, or broader economic conditions. It is typically incurable.
Related Alaska Property Valuation Questions
- Curable depreciation in a property appraisal means:
- In Alaska's remote areas, an appraiser may have difficulty using the sales comparison approach because:
- A property has an EGI of $120,000 and operating expenses of $48,000. What is the net operating income (NOI)?
- Economic life of a building refers to:
- The appraisal approach most commonly used to value single-family residential properties in Alaska is the:
- In Alaska, the principle of substitution states that:
- When a licensed appraiser estimates the value of a property, the appraiser is providing an opinion of:
- An Alaska property sold for $485,000. The appraiser determines the land is worth $95,000. The improvements' depreciated value (from the cost approach) is:
Practice More Alaska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alaska Quiz →