Property Valuation
A Kentucky appraiser examining a Lexington historic district home notes that the unique architecture may reduce the pool of potential buyers. This is an example of:
APhysical deterioration
BFunctional obsolescence due to superadequacy✓ Correct
CExternal obsolescence
DCurable functional obsolescence
Explanation
A property with unique or unusual features that limits the market of potential buyers (superadequacy) represents functional obsolescence — the property's features exceed what the typical buyer wants or needs.
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