Property Valuation
In Nevada, functional obsolescence in an appraisal is a loss of value caused by:
AFactors outside the property such as a new highway
BPhysical deterioration from use or age
CDesign deficiencies, outdated features, or inadequate functional utility within the property✓ Correct
DChanges in neighborhood land use
Explanation
Functional obsolescence is a loss of value due to flaws within the property itself — such as outdated floor plans, inadequate plumbing, or features that are no longer desirable. Some functional obsolescence is curable (cost-effective to fix); some is incurable.
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