Physical deterioration and functional obsolescence are typically considered?

Physical deterioration and functional obsolescence are typically considered curable when there are feasible and practical options available to correct or mitigate these issues. In the context of real estate appraisal, physical deterioration refers to the wear and tear that occurs over time, such as roof damage or outdated plumbing. If the costs to repair or update these elements are reasonable compared to the value they add to the property, these issues can be deemed curable.

Functional obsolescence occurs when a property lacks desirable features that affect its functionality or utility, such as outdated layouts or insufficient square footage. If improvements can be made to address these shortcomings, such as renovations to create open floor plans or additions to increase living space, they can also be categorized as curable.

While some physical deterioration or functional obsolescence can be deemed incurable when repairs are economically unfeasible or wouldn’t significantly increase property value, many instances allow for curable assessments. Therefore, the option indicating that these elements are curable is the most appropriate choice.