Because real estate stays in a fixed location, it is affected by `____`, which are everything that happens around that property.

Flashcard 7 - Property Valuation and Appraisal Flashcard Set for the Real Estate License Exam

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externalities

Explanation:

Externalities affect the value of a piece of property and can include but are not limited to: quality of surrounding schools, nearby gas stations, nearby job availability, mortgage rates, etc.

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