Property Valuation
Functional obsolescence in a Wyoming home might include:
AProperty located near a noisy highway
BA five-bedroom house with only one bathroom✓ Correct
CDeclining neighborhood property values
DA leaking roof that has not been repaired
Explanation
Functional obsolescence is a loss in value caused by a deficiency or superadequacy within the property itself. A five-bedroom house with only one bathroom is a classic example of functional obsolescence (deficiency) that reduces market value.
Related Wyoming Property Valuation Questions
- In a Jackson Hole luxury property appraisal, the cost approach would estimate value as:
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