Property Valuation
Economic obsolescence (external obsolescence) affecting a Michigan property could be caused by:
AOutdated interior design
BProximity to a newly built industrial facility causing noise and odor✓ Correct
CPhysical wear to the roof
DAn undersized garage
Explanation
External (economic) obsolescence results from factors outside the property, such as nearby industrial development, traffic changes, or neighborhood decline. It is typically incurable because it is beyond the owner's control.
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