locational obsolescence
locational obsolescence
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
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Under the ACV method, a deduction is made for depreciation due to age, use, and neglect, but functional and locational obsolescence do not apply.
"We will see rolling cycles, but no major downturn," said Lachman, who expects functional and locational obsolescence to help support demand for most property types.
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