Property Valuation
Economic obsolescence (external obsolescence) is caused by:
APoor floor plan design
BPhysical wear and tear on the building
CFactors outside the property, such as a nearby industrial facility✓ Correct
DOutdated plumbing or electrical systems
Explanation
Economic obsolescence is a loss of value caused by factors external to the property, such as nearby nuisances, neighborhood decline, or adverse economic conditions.
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