one of the four broad categories of factors affecting the value of real estate, which are - physical, social, economic and governmental.

Physical factors may contribute to, or detract from, the value of real estate and include topography, views, proximity to neighborhood shopping and neighborhood services, access to transportation, ingress and egress, climate, seasonal factors, etc. Physical factors may be naturally occurring such as rivers, mountain ranges, lakes, oceans, or the eye-catching red rock formations in Sedona, Arizona. Constructed or man-made factors include the interstate highway system, sports stadiums, and attractions such as the Statue of Liberty, Disney World, etc.