Property Valuation
A Kansas home's value is diminished because it is located next to a commercial property. This is an example of:
AFunctional obsolescence
BPhysical deterioration
CExternal obsolescence✓ Correct
DCurable depreciation
Explanation
External (economic) obsolescence is caused by factors outside the property — like adjacency to commercial property, a busy road, or a declining area — and is generally incurable.
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