Physical Factors Flashcards
Waterfront property is usually more valuable; swamps prone to flooding are less valuable. Lack of city water can also make real estate less desirable.
Water
This can affect the value of a particular property, as well as all land in an area. Hilly land may not permit desired building. Land to flat may be deemed to not have character.
Topography
Real estate in a growing neighborhood, city, or region is usually more valuable than in a declining area
Location
This can impact real estate value as areas go out of favor because of popularity, jobs, climate, or a host of other reasons.
Popularity
Soil composition that makes the ground unsuitable for building can have a negative impact on value. So can the presence of underground storage tanks. Positive attributes could be the presence of a natural waterway or a man-made lake. External factors can affect the entire area.
Environment