Definition: Unfavorable influences originating outside a property that can reduce its usefulness, demand, or value.
Example
New noise or traffic from a neighboring use makes a residential location less desirable to buyers.
Keep the distinction clear
These influences are external to the property. They differ from worn-out components or an inefficient interior layout.
Related terms
Obsolescence · Situs · Market Value
Keep studying
References: FREC Course II syllabus, Session 6
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