Property Valuation
When appraising a historic property in downtown Huntington, WV, functional obsolescence might be indicated by:
APeeling paint and worn flooring
BA one-car garage in a market demanding two-car garages✓ Correct
CDeclining neighborhood property values
DHigh property tax assessments
Explanation
Functional obsolescence results from outdated or inadequate features that reduce a property's utility or desirability. A one-car garage in a market where buyers expect two-car garages is a classic example of functional obsolescence.
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