Property Valuation
When a Maryland appraiser notes that a property is on a busy arterial road and has noise issues, the appraiser may:
AIgnore it as a subjective factor
BConsider it a form of external obsolescence reducing value✓ Correct
CAdd value because of better traffic exposure
DReport it only in the cost approach
Explanation
Proximity to high-traffic roads and associated noise is an external factor that typically reduces residential property value — a form of external (locational) obsolescence.
Related Maryland Property Valuation Questions
- The income multiplier approach to valuing Maryland residential rentals typically uses a:
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