Property Valuation
External obsolescence (also called economic obsolescence) is:
ACurable deterioration within the building
BLoss in value from factors outside the property, such as a new highway nearby✓ Correct
CDepreciation from poor floor plan design
DPhysical wear and tear from normal use
Explanation
External obsolescence is a loss in value caused by factors outside the property, such as proximity to a noisy highway, a declining neighborhood, or adverse zoning changes. It is generally incurable.
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