Home valuator
OwnerNeal J. GOLDBERGinventor
Life of this patent
Estimating the term…
Abstract
A system for estimating home and property values is based upon current market data including recent comparable properties sold. The comparable sales may be chosen based on their proximity to the subject and their similarity in building and land assessments by the town or city in which the property is located, among other factors. The sale prices of the comparable properties may be adjusted based on the differences in assessments and appreciation rates from the time of sale to the date of valuation. This may be called an automated valuation model (AVM).
Claims20
A method for estimating a value of a subject property, comprising:
- selecting comparable properties that are comparable to the subject property according to at least one factor;
- obtaining sale values of at least some of the comparable properties;
- adjusting the sale values of the comparable properties to generate adjusted sale values;
- and
- estimating the value of the subject property using the adjusted sale values.
A computer readable medium storing executable code for estimating a value of a subject property, the computer readable medium comprising:
- executable code that selects comparable properties that are comparable to the subject property according to at least one factor;
- executable code that obtains sale values of at least some of the comparable properties;
- executable code that adjusts the sale values of the comparable properties to generate adjusted sale values;
- and
- executable code that estimates the value of the subject property using the adjusted sale values.
An automated system for estimating a value of a subject property, comprising:
- at least one processor;
- a communication device coupled to the at least one processor that obtains information from a database, wherein the information is accessible by the at least one processor;
- a computer readable medium storing executable code that is executable by the at least one processor, the computer readable medium including:
- executable code that select comparable properties that are comparable to the subject property according to at least one factor;
- executable code that obtains sale values of at least some of the comparable properties;
- executable code that adjusts the sale values of the comparable properties to generate adjusted sale values;
- and
- executable code that estimates the value of the subject property using the adjusted sale values.
Dependencies are inferred from the claim text.