Property Valuation
Which of the following would be considered 'external obsolescence' for an Arizona property?
AAn outdated bathroom needing renovation
BDeteriorating roof shingles
CA new highway constructed adjacent to a residential neighborhood, increasing noise and traffic✓ Correct
DA non-functioning HVAC system
Explanation
External obsolescence (economic obsolescence) results from factors outside the property—new highways, industrial facilities, declining neighborhoods, or other external conditions reducing the property's value.
Related Arizona Property Valuation Questions
- In Arizona, an 'as-is' appraisal differs from an 'as-completed' or 'subject-to' appraisal in that:
- Economic life of a building in the cost approach refers to:
- When appraising a duplex, the most appropriate approach would typically be:
- A cost approach appraisal requires calculating depreciation, which includes:
- A 'reconciliation' in a final appraisal report involves the appraiser:
- A leasehold interest in Arizona has value when:
- When an appraiser adjusts a comparable sale upward by $5,000 for a feature the subject has but the comparable lacks, the adjustment means:
- The principle of anticipation in real estate appraisal holds that:
Practice More Arizona Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →