Property Valuation
A West Virginia appraiser determines a property has $40,000 of functional obsolescence from a floor plan that is poorly designed for modern living. This loss in value is:
ACurable if the cost to cure is less than the value loss it addresses✓ Correct
BAlways incurable since floor plans cannot be changed
CA physical deterioration item
DExternal obsolescence from neighborhood factors
Explanation
Functional obsolescence is curable if the cost to cure is equal to or less than the value it adds. If reconfiguring the floor plan would cost $40,000 and add $40,000 or more in value, it is curable.
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