Property Valuation
A North Dakota appraiser considers 'external obsolescence' when the property's value is negatively impacted by:
AWorn carpet inside the home
BProximity to a new highway that increased noise and traffic✓ Correct
CAn outdated floor plan
DA crumbling concrete driveway
Explanation
External (economic) obsolescence results from conditions outside the property's boundaries, such as a new noisy highway, nearby industrial development, or adverse economic conditions. It is generally incurable by the property owner.
Related North Dakota Property Valuation Questions
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