Property Valuation
A Rhode Island property appraiser notes 'external obsolescence' affecting a property near a proposed highway. This refers to:
APhysical deterioration of the property's exterior
BA loss in value caused by negative external factors outside the property boundaries✓ Correct
COutdated architectural style of the building
DPoor interior layout reducing market appeal
Explanation
External obsolescence (also called economic obsolescence) is a loss in value caused by factors external to the property—such as a new highway nearby, neighborhood decline, or an industrial facility. It is typically incurable.
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