Exam term
External obsolescence
Loss in value from causes outside the property, such as neighboring industrial noise or reduced local demand. Also called economic obsolescence; generally incurable by the owner.
Lessons that use this term
- The cost approach California
- Accrued depreciation: physical deterioration and functional and external obsolescence California
- The cost-depreciation approach Florida
- Highest and best use, site valuation, and the three approaches to value New York
- The cost approach: reproduction and replacement cost and depreciation Texas