Patent · US Active

Method and system for automated property valuation adjustment

US8407149B1 · kind B1 · utility

0Cited by

18References

16Claims

0Family size

Assignee

Fannie Mae · US

Inventors

Mark Y. An · North Potomac, US
Linghua Peng · Reston, US
Hong Gao · Columbia, US
Eric Rosenblatt · Derwood, US

Key dates

Filing date	Aug 30, 2010
Grant date	Mar 26, 2013
Priority date	—
Expiry date	Dec 24, 2030

Classification

Technology area (CPC G)Physics
CPC primaryG06Q50/167
WIPO fieldIT methods for management
WIPO sectorElectrical engineering

Abstract

A method and machine-readable media are provided for estimating property values. An exemplary method includes obtaining a first estimate of a property from a first property valuation database, the first estimate exhibiting price tier effect bias. The method further includes deriving a price tier effect adjustment factor based on a price tier associated with the property and purchase transaction data. The method further includes adjusting the first estimate to reduce the price tier effect bias using price tier effect adjustment factor, thereby providing a second estimate having reduced price tier effect bias.

Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.