Property Valuation
In West Virginia, 'external obsolescence' (economic obsolescence) affecting a property's value could be caused by:
ADeferred maintenance on the property
BA roof that needs replacement
CClosure of a major employer in the Huntington, WV area✓ Correct
DAn outdated kitchen design
Explanation
External (economic) obsolescence is a loss in value caused by factors outside the property itself. The closure of a major Huntington employer, reducing local housing demand, is a classic example of economic obsolescence.
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