What would you classify deteriorating roof shingles and damaged siding as?

Deteriorating roof shingles and damaged siding are classified as physical deterioration because they represent a decline in the physical condition of a property due to wear and tear, age, or lack of maintenance. Physical deterioration refers to the observable damage to a property’s structure, which can affect its overall value and functionality.

This type of deterioration can be the result of various factors like weather exposure, physical impacts, or inadequate upkeep over time. In the context of real estate valuation, acknowledging physical deterioration is essential, as it can influence an appraiser's assessment of the property's current market value.

Functional obsolescence refers to factors that diminish a property’s value due to outdated features or design flaws, while economic obsolescence concerns external economic factors that negatively affect the property's value. Curable depreciation, on the other hand, involves elements that can be repaired or improved at a reasonable cost to increase or restore value. Since the question specifically addresses the condition of shingles and siding, which directly relate to the physical state of the property, the classification as physical deterioration is indeed accurate.