Property Valuation
Economic obsolescence (external obsolescence) in an appraisal is caused by:
AWorn-out roofing or flooring within the property
BAn outdated floor plan that no longer meets market expectations
CFactors outside the property such as a new industrial plant nearby✓ Correct
DDeferred maintenance by the owner
Explanation
Economic (external) obsolescence results from negative influences outside the property, such as proximity to a noisy highway, declining neighborhood, or nearby industrial facility. It is generally incurable.
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