Real Estate Price Indexing
OwnerMarios A. Kagarlis, David W. Petersoninventors
Life of this patent
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Abstract
Among other things, transactions involving assets that share a common characteristic are represented as respective data points associated with values of the assets, the data points including transaction value information. Parameters that fit probability distribution functions to at least two respective components of a value spectrum of the data points are determined. The probability distribution function for at least one of the components comprises a power law. An index is formed of values associated with the assets using at least one of the determined parameters.
Claims45
A computer-based method comprising
- representing transactions involving assets that share a common characteristic, as respective data points associated with values of the assets, the data points including transaction value information,
- determining parameters that fit probability distribution functions to at least two respective components of a value spectrum of the data points, the probability distribution function for at least one of the components comprising a power law, and
- forming an index of values associated with the assets using at least one of the determined parameters.
A computer-based method comprising
- representing sales of real properties in a particular geographical region, as respective data points associated with values of the real properties, the data points including at least one of transaction prices per square foot or building areas,
- determining parameters that fit probability distribution functions to at least two respective components of a price per square foot spectrum of the data points, the probability distribution function for at least one of the components comprising a power law, and
- forming an index of price per square foot per day associated with the properties using at least one of the determined parameters.
A medium bearing instructions to cause a computer means to
- represent transactions involving assets that share a common characteristic, as respective data points associated with values of the assets, the data points including transaction value information,
- determine parameters that fit probability distribution functions to at least two respective components of a value spectrum of the data points, the probability distribution function for at least one of the components comprising a power law, and
- form an index of values associated with the assets using at least one of the determined parameters.
An apparatus comprising
- storage holding data points that represent transactions involving assets that share a common characteristic, the respective data points being associated with values of the assets, the data points including transaction value information,
- computational elements to determine parameters that fit probability distribution functions to at least two respective components of a value spectrum of the data points, the probability distribution function for at least one of the components comprising a power law, and
- storage for an index of values that are associated with the assets and are formed using at least one of the determined parameters.
A method comprising
- receiving, from at least two different sources, different sets of data points that represent values of transactions involving real properties, the data points being classified by geographical regions at different levels of granularity,
- forming a merged body of data points from the two different sets, the merged data points being classified at the lowest possible level of granularity.
Dependencies are inferred from the claim text.