Property Valuation
What is 'functional obsolescence' as it applies to a 1960s-era home in Grand Forks, ND?
ADamage caused by flooding from the Red River
BA floor plan with outdated features like a single bathroom or no attached garage✓ Correct
CProximity to an industrial district
DFoundation settling due to expansive soil
Explanation
Functional obsolescence is a loss in value caused by deficiencies or super-adequacies within the structure itself, such as outdated layouts, inadequate bathrooms, or lack of features buyers now expect.
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