Question

In many parts of the country, an average HEATING/COOLING system is a standard quality central system fueled by gas, oil, or electricity. True or False? In some areas, one fuel so dominates the market that the appraiser must consider whether a system using another fuel causes functional obsolescence. True or False? Quality heat pump systems and central air conditioning add extra value in most areas. True or False?

Answer 1

Explanation: Correct on all three statements. Gas, oil, and electricity are commonly used fuels for heating/cooling systems in different regions of the country. Functional obsolescence can occur when a system uses a less common fuel type compared to the majority of other systems in its area. Quality heat pumps and central air conditioning units typically increase property values due to their energy efficiency and comfort benefits.