Property Valuation
A NH appraiser notes that a property's neighborhood is in the 'decline' phase of the neighborhood life cycle. This typically means:
AProperty values are increasing rapidly
BProperties show deferred maintenance, absentee ownership is increasing, and values may be declining✓ Correct
CNew development is occurring throughout the neighborhood
DThe area is being rezoned
Explanation
In the decline phase of the neighborhood life cycle, properties begin to show deferred maintenance, absentee ownership increases, and values may fall. Subsequent phases may include demolition/redevelopment.
Related New Hampshire Property Valuation Questions
- An appraiser determines that a NH property suffers from external (economic) obsolescence because:
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