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functional obsolescence |
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functional obsolescence A loss of value from all factors within a property except for physical deterioration.This may include a poor floor plan,the lack of a garage,high ceilings that dramatically increase heating costs, or the lack of central air conditioning in the South. Contrast with economic obsolescence (factors outside the property that depress its value) and physical obsolescence (deterioration). How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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