Final answer:
When estimating loss of value from depreciation, an appraiser considers the property's physical condition, age, and market demand.
Step-by-step explanation:
When estimating loss of value from depreciation, an appraiser would typically look at a property's physical condition, age, and market demand. These factors can affect how quickly the property depreciates and loses value over time.
For example, a property that is older and in poor condition may experience faster depreciation compared to a newer property in good condition. Market demand also plays a role, as properties in areas with high demand may depreciate at a slower rate or even appreciate in value.
Additionally, appraisers may consider factors such as location, amenities, and any unique features that could positively or negatively impact the property's value.