Property Valuation
Economic (external) obsolescence is caused by:
AOutdated floor plans or designs
BPhysical wear and tear on the building
CFactors outside the property's boundaries, such as a new highway nearby✓ Correct
DDeferred maintenance by the owner
Explanation
Economic (external) obsolescence is a loss in value caused by factors outside the property, such as a new noisy highway, industrial development in the area, or economic decline of the neighborhood. It is typically incurable.
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