Home investment report card
OwnerRajasekhar Kogantiinventor
Life of this patent
Estimating the term…
Abstract
A facility for forecasting the relative change in future value of a distinguished home located in a distinguished geographic area is described. Utilizing a combination of statistical and mathematical models, the facility reports the acquired relative change in future value for the distinguished home in the form of the “Home Investment Report Card” which provides easy to use information on all of the key variables affecting relative change in price through the use of letter grades. The facility then provides the Final Grade, which is the actual estimate for the distinguished home.
Claims15
A method in a computing system having a processor for forecasting relative change in the future value of a distinguished home among a population of homes in a distinguished location each having home level attributes and location's economic variables, comprising:
- retrieving information about each of a plurality of economic variables and sold homes' attributes among the population that have occurred since a distinguished date;
- dividing the plurality of economic variables and sold homes' attributes among the population that have occurred since the distinguished date;
- constructing a plurality of regional, sub-regional, and state level forecasting models on relative changes in the future value on an average home respectively, each forecasting model being constructed based on information about recent economic variables;
- constructing a home level model on relative changes in the future value of a specific home on information based upon relative change in the average home future value in the geographic location and sold homes' attributes among the population;
- constructing, by the processor a relative change in future valuation meta-model based on information about economic variables in the location, and attributes of sold homes among the population;
- the relative change in future valuation meta-model being capable of specifying, for a combination of the relative change in future valuations produced for a home among the plurality of homes by a suite of the plurality of regional, sub-regional, state-level and percentile-models;
- the relative weight to be given to the relative change in future valuation produced for the home by each of the plurality of percentile-models based upon the home's attributes;
- for each of the plurality of relative change in future valuation percentile-models, applying the relative change in future valuation percentile-models to attributes of the distinguished home to obtain a relative change in the future valuation of the distinguished home;
- applying the relative change in future valuation meta-model to attributes of the distinguished home to obtain a weighting factor for each of relative change in the future valuation percentile-models;
- combining the valuations of the distinguished home obtained from the relative change in future valuation percentile-models in accordance with the obtained weighting factors to obtain an overall relative change in future valuation for the distinguished home;
- and outputting the obtained overall relative change in future valuation for the distinguished home.
One or more computer memories collectively containing a trained relative change in future home valuation meta-model state data structure for a population of homes, economic variables comprising information that specifies how to map from economic variables attributable to a relative change in the future valuation for the average home in a geographic location, and from attributes of a home among the population of homes to a relative weight attributable to a relative change in future valuation produced for the home by each of a plurality of different percentile-equation models for homes among the plurality of homes, wherein the information being generated based on information about the attributes of the sold homes, such that the contents of the data structure may be used to obtain from attributes of a home among the population of homes a relative weight attributable to a relative change in future valuation produced for the home by a suite of a plurality of relative change in future valuation models at geographic area and home levels based upon the location's economic variables and home's attributes, and such that the obtained relative change in average future home value in the geographic location and percentile-equations with predicted weights may be used to combine relative change in future valuations produced for the home to obtain an overall relative change in the future valuation for the home.
One or more computer memories collectively containing a dynamic relative change in future home valuation model weighting data structure, comprising a plurality of entries, each entry both specifying a different one of a plurality of relative change in future valuation models for homes that are among a population of homes and specifying a relative weight to be attributed to a result produced by the specified relative change in future valuation model when applied to attributes of a home and location's economic variables to obtain relative change in future value among the population of homes, the relative weights specified by the entries having been dynamically determined based upon the attributes of the home and location to obtain relative change in future value for the home.
A computer-readable medium containing executable instructions capable of causing a computing system to perform a method of obtaining a relative change in the future value for a distinguished home among a population of homes each having attributes, in a distinguished geographic location each having economic variables, comprising:
- retrieving a plurality of relative change in future valuation regional, sub-regional, state and home level models, a suite of relative change in future valuation regional, sub-regional, state and home level models being based on information about economic variables, attributes of the sold homes, a suite of relative change in the future valuation regional, sub-regional, state and home level models being capable of producing a relative change in future valuation for a home among the population of homes based upon attributes of the home and location's economic variables;
- retrieving a relative change in future valuation meta-model based on information about relative change in average future home value of a location and attributes of the sold homes, the relative change in future valuation meta-model being capable of specifying, for a combination of the relative change in future valuations produced for a home among the plurality of homes by a suite of the plurality of regional, sub-regional, state-level and percentile-models;
- the relative weight to be given to the relative change in future valuation produced for the home by each of the plurality of percentile-models based upon the home's attributes;
- for each of the plurality of relative change in future valuation percentile-models, applying the relative change in future valuation percentile-model to attributes of the distinguished home to obtain a relative change in the future valuation of the distinguished home;
- applying the relative change in future valuation meta-model to attributes of the distinguished home to obtain a weighting factor for each of the relative changes in the future valuation percentile-models;
- combining the valuations of the distinguished home obtained from the relative change in future valuation percentile-models in accordance with the obtained weighting factors to obtain an overall relative change in future valuation for the distinguished home.
Dependencies are inferred from the claim text.