Business / Real Estate / Obsolescence: The loss of value due to factors that are outmoded or less useful. Obsolescence may be functional or economic.
Business / Real Estate / Functional Obsolescence: A loss of value to an improvement to real estate arising from functional problems, often caused by age or poor design. MORE
Business / Real Estate / External Obsolescence: A type of incurable depreciation caused by negative factors not on the subject property, such as environmental, social or ecomomic forces. The loss in value can not be reversed by spending money on th MORE