A term commonly
associated with the appraisal of real
property. The location of a particular
property must be viewed in terms of its
relationship to surrounding facilities and
conditions impacting the value of that
property.
Common locational
factors include such things as, patterns of
land use within the immediate area,
availability of utilities, access to
transportation, stores, and recreation,
general upkeep of the neighbourhood, hazards
and nuisances, and traffic flows.
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