Property Valuation
External obsolescence affecting a Mississippi property located next to a new industrial facility is best described as:
ACurable physical deterioration
BFunctional obsolescence
CEconomic obsolescence caused by factors outside the property✓ Correct
DDeferred maintenance
Explanation
External (economic) obsolescence is caused by factors outside the property, such as a nearby nuisance, changing neighborhood, or economic decline. It is generally incurable by the property owner.
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