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Real Estate Glossary

External Obsolescence

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Written by Luis Escobar

This is a factor that significantly decreases the value of an improvement because of external forces. It is often due to something outside of the home or property that is causing the value to decrease. An example of this is a new, nearby mall that causes traffic and congestion.

This is a factor that significantly decreases the value of an improvement because of external forces. It is often due to something outside of the home or property that is causing the value to decrease. An example of this is a new, nearby mall that causes traffic and congestion.

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Luis Escobar

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