Property Valuation
Economic (external) obsolescence in an Oklahoma property is caused by:
APoor interior design choices by the owner
BFactors outside the property itself, such as a new highway adjacent to the property, a nearby industrial facility, or declining neighborhood conditions✓ Correct
CDeferred maintenance and physical deterioration
DOutdated plumbing or electrical systems
Explanation
Economic or external obsolescence is caused by conditions external to the property — a change in zoning, a new highway, neighborhood decline, or proximity to a nuisance. It is generally incurable because the owner cannot control external factors.
Related Oklahoma Property Valuation Questions
- An Oklahoma appraiser completing a full URAR (Uniform Residential Appraisal Report) for a single-family home mortgage loan must comply with:
- In Oklahoma oil country, mineral rights can significantly affect property value. A property with an active oil and gas lease producing royalty income would be valued:
- An Oklahoma appraisal that comes in below the contract price can result in:
- Oklahoma's 'dark store theory,' sometimes used by large retailers in property tax appeals, argues that:
- When an Oklahoma appraiser considers 'externalities' affecting value, they are examining:
- An Oklahoma appraiser performing a retrospective appraisal for a date in the past must:
- In Oklahoma's rural areas, the land residual technique for valuing agricultural land separates:
- A recently sold comparable property is 200 square feet larger than the subject property. If the market indicates a value of $75 per square foot, what adjustment should the appraiser make to the comparable?
Practice More Oklahoma Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oklahoma Quiz →