Curable physical deterioration is also known as what?

Curable physical deterioration refers to the decline in property condition that can be effectively remedied through maintenance or repair. This term is synonymous with deferred maintenance, which indicates that necessary repairs have not been performed but can be addressed to restore the property to a better condition. Essentially, these are issues that, although they have negatively impacted the property's overall value, can be corrected with reasonable investment and effort.

Understanding this concept is crucial for appraisers, as they evaluate properties not only based on their current condition but also considering the potential for restoration or enhancement. Options related to incurable degradation and replacement costs do not pertain to the idea of easily fixable deterioration but rather refer to other aspects of property condition or financial considerations in valuation. Proper upkeep, while important, does not specifically address the notion of deterioration that can be remedied, which is why deferred maintenance is the more accurate term in this context.