Property Valuation
Curable physical deterioration in a Wisconsin home refers to deterioration that:
ACannot be repaired under any circumstances
BIs economically worthwhile to repair because the cost is less than the resulting value increase✓ Correct
CWas caused by the buyer after purchase
DIs covered by homeowner's insurance
Explanation
Curable physical deterioration is deferred maintenance that is worth fixing because the repair cost is less than or equal to the value added. An example is repainting faded exterior paint.
Related Wisconsin Property Valuation Questions
- The principle of substitution in real estate valuation states that:
- Regression in Wisconsin appraisal theory means a property's value is:
- A Wisconsin broker preparing a BPO (Broker Price Opinion) should disclose that it is:
- In Wisconsin, the cost approach to valuation is MOST useful for:
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- Under the cost approach, 'functional obsolescence' in a Wisconsin property refers to:
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