"Obsolescence" is a decrease in value of a building due to it becoming "outdated" or "unfashionable". It has nothing to do with the upkeep of the property, such as needing a new coat of paint or showing signs of wear and tear.
These are questions that the above text answers:
1. What is obsolescence in the context of real estate?
2. How does obsolescence affect the value of a building?
3. Is obsolescence related to the physical condition of a property?
4. What factors contribute to a building becoming obsolete?
5. Does obsolescence impact the need for maintenance or repairs?
6. Can obsolescence be reversed or mitigated?
7. Is obsolescence the same as wear and tear?
8. How does obsolescence differ from depreciation?
9. Are there any dangers associated with building obsolescence?
10. Does obsolescence affect the marketability of a property?