07/20/2026
๐ Talitha "Lili" Valery, Realtor | Keller Williams
๐ Lic. #20250568
๐บ๏ธ Serving All of Nebraska
Hey future agents! ๐๐ We are back for Round 7 of our Real Estate Mini-Quiz! ๐ง ๐
Let's switch gears and test your knowledge on property valuation. This is a massive section on the state exam, and knowing the difference between these terms is guaranteed to earn you points! ๐๏ธ๐
๐จ MINI QUIZ TIME! ๐จ
Imagine a homeowner has a beautifully maintained, fully updated 4-bedroom house over in Elkhorn. However, the city suddenly rezones the empty land right behind their backyard and builds a massive, noisy industrial plant. Because of this new factory, the homeowner's property value immediately drops. ๐ญ๐
What is this specific type of depreciation (loss in value) called? ๐ค๐
A) Physical Deterioration ๐๏ธ
B) Functional Obsolescence ๐๏ธ
C) Economic (External) Obsolescence ๐๏ธ
D) The "Time to Move" Penalty ๐๐
Drop your guess in the comments below! ๐๐ฌ You know the drillโleave your answers now, and Iโll be back tomorrow to reveal the correct answer and explain the trick to passing this section of the exam! Let's go! ๐ฏโจ๐ก