Property Valuation
A Virginia appraiser determines that the subject property has a 'super-adequacy' in the kitchen (a $100,000 professional kitchen in a $300,000 neighborhood). The excess cost represents:
AAdded value equal to the cost
BFunctional obsolescence — incurable — because the market won't pay full cost for the over-improvement✓ Correct
CExternal obsolescence
DPhysical deterioration
Explanation
Super-adequacy (over-improvement) is a form of functional obsolescence — the excess cost of an improvement over what the market will pay for it. It is typically incurable because removing the improvement is too costly.
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