Property Valuation
In Alaska, a property that has been vacant for an extended period typically experiences which type of depreciation that affects its market value?
AEconomic obsolescence only
BPhysical deterioration from lack of maintenance, plus potential functional and external obsolescence✓ Correct
COnly functional obsolescence from dated systems
DNo depreciation since vacant buildings do not deteriorate
Explanation
Extended vacancy leads to multiple forms of depreciation: physical deterioration from lack of maintenance and weathering (particularly harsh in Alaska's climate), potential functional obsolescence from outdated systems, and possibly external obsolescence if neighborhood conditions have changed. Alaska's cold climate accelerates physical deterioration in vacant buildings.
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