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If a property was damaged and repair failed to restore it to its original market value then said property has suffered diminished value. Unlike depreciation , which is an anticipated and predictable loss in value over time, ‘Inherent Diminished Value’ is a loss in value due to a specific, sudden and unexpected negative occurrence.
Diminution in value is a legal term of art used when calculating damages in a legal dispute, and describes a measure of value lost due to a circumstance or set of circumstances that caused the loss. Specifically, it measures the value of something before and after the causative act or omission creating the lost value in order to calculate ...
AVMs analyze local sales data, property records and market trends to estimate the value of your home — similar to online value estimators like Zillow and Redfin, but with more detailed data.
The term replacement cost or replacement value refers to the amount that an entity would have to pay to replace an asset at the present time, according to its current worth. [1] In the insurance industry, "replacement cost" or "replacement cost value" is one of several methods of determining the value of an insured item. Replacement cost is the ...
J.D. Power ratings account for things like settlements, claim servicing and the home repair process. Available discounts: Discounts can be a great way to save on your premium.
The late actor’s home was officially sold for $8.5 million nearly one year after his sudden death on Oct. 28, 2023. Reuters 2 months ago US pending home sales jump the most in more than four ...
Pittsburgh used the two-rate system from 1913 to 2001 [21] when a countywide property reassessment led to a drastic increase in assessed land values during 2001 after years of underassessment, and the system was abandoned in favor of the traditional single-rate property tax. The tax on land in Pittsburgh was about 5.77 times the tax on ...
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