Method and apparatus for spatiotemporal valuation of real estate

• US 20060015357A1
• Filed: 07/16/2004
• Published: 01/19/2006
• Est. Priority Date: 07/16/2004
• Status: Abandoned Application

• Current Assignee: Corelogic Solutions LLC (CoreLogic Incorporated)
• Original Assignee: First American Real Estate Solutions LLC (CoreLogic Incorporated)
• Inventors: Cagan, Christopher L.
• Application Number:
  US10/892,618
• Publication Number:
  US 20060015357A1
• Time in Patent Office: Days
• US Class Current: 705/306
• CPC Class Codes: G06Q 30/0205 Location or geographical consideration
• CPC Class Codes: G06Q 30/0278 Product appraisal
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 50/16 Real estate

Abstract

A method and apparatus for valuing every property in a predetermined geographic region at regular intervals and storing those valuations for ready access later in a layered data stratum, using customary sources of property valuation data to create a new layers of the data stratum and using the data stored in the one or more layers of the data stratum for the creation of tables, spreadsheets and maps for evaluations of changes and trends in property valuation.

Claims

1. A computer-based method of providing valuations for each property in a predetermined geographic area comprising the steps of:

evaluating each property in said predetermined geographic area using an automated valuation model, and

reevaluating each property in said predetermined geographic area at predetermined time intervals using an automated valuation model.

2. The method of claim 1, wherein the automated valuation model used for each property in said predetermined geographic area is the same automated valuation model used for reevaluation of each property in the geographic area.

3. The method of claim 1, wherein said predetermined time intervals are equal periods of time.

4. The method of claim 1 further comprising the step of preparing a table of said predetermined geographic area with valuation indicia thereon corresponding to the valuation of each subject property in said predetermined geographic area.

5. The method of claim 1 further comprising the step of preparing a map of said predetermined geographic area with valuation indicia thereon corresponding to the valuation of each subject property in said predetermined geographic area.

6. The method of claim 5, wherein said map is on a graphic medium.

7. The method of claim 5, wherein said map is color-coded.

8. The method of claim 5, wherein said map is displayed on a computer screen.

9. The method of claim 8, wherein said display on said computer screen is interactive to enable access to information about each property in said predetermined geographic area.

10. The method of claim 1 further comprising the step of preparing a map of said predetermined geographic area with valuation indicia thereon corresponding to data represented on a collective basis.

11. The method of claim 10, wherein said map is on a graphic medium.

12. The method of claim 10, wherein said map is color-coded.

13. The method of claim 10, wherein said map is displayed on a computer screen.

14. The method of claim 1, further comprising the step of evaluating at least one of the automated valuation models used in the method.

15. The method of claim 1, further comprising the step of isolating properties within the predetermined geographic area that meet predetermined criteria.

16. The method of claim 15, further comprising the step of evaluating only said isolated properties in relation to each other.

17. The method of claim 16, further comprising the step of preparing a table of said predetermined geographic area with valuation indicia thereon corresponding to the valuation of said isolated properties in said predetermined geographic area.

18. The method of claim 16, further comprising the step of preparing a map of said predetermined geographic area with valuation indicia thereon corresponding to the valuation of said isolated properties in said predetermined geographic area.

26. The method of claim 1, further comprising the step of using said valuations for each property in said predetermined geographic area to evaluate at least one automated valuation model.

27. The method of claim 1, further comprising the step of using a map of said valuations for each property in said predetermined geographic area to evaluate at least one automated valuation model.

29. The apparatus of claim 26, wherein the automated valuation model used for each property in the geographic area is the same automated valuation model used for reevaluation of each property in said predetermined geographic area.

30. The apparatus of claim 26, wherein said predetermined time intervals are equal periods of time.

31. The apparatus of claim 26 further comprising means connected to said evaluating means for preparing a table of evaluations in said predetermined geographic area with valuation indicia thereon corresponding to the valuation of each subject property in said predetermined geographic area.

32. The apparatus of claim 26 further comprising means connected to said evaluating means for preparing a map of evaluations in said predetermined geographic area with valuation indicia thereon corresponding to the valuation of each subject property in said predetermined geographic area.

33. The apparatus of claim 30, further comprising means connected to said evaluating means for displaying said map on a graphic medium.

34. The apparatus of claim 30, wherein said map is color-coded.

35. The apparatus of claim 30, further comprising computer screen displays means connected to said evaluating means for displaying said map.

36. The apparatus of claim 31, wherein said computer screen display means includes means to enable a user to access information about each property in said predetermined geographic area on an interactive basis.

37. The apparatus of claim 26 further comprising means connected to said evaluating means for preparing a map of said predetermined geographic area with valuation indicia thereon corresponding to data represented on a collective basis.

38. The apparatus of claim 35, wherein said map preparing means includes means for displaying valuation indicia on a graphic medium.

39. The apparatus of claim 36, wherein said map displaying means includes means for displaying a color-coded map.

41. The apparatus of claim 38 further comprising map preparation means connected to said evaluating means and further connected to said means for computing the rate of change of value for preparing a map of said predetermined geographic area with rate of change of valuation indicia thereon corresponding to the rate of change of valuation of each subject property in said predetermined geographic area.

42. The apparatus of claim 39, wherein said map preparation includes means for preparing a map on a graphic medium.

44. The apparatus of claim 41, further comprising computer screen display means connected to said map preparation means to display said map on said computer screen display means.

45. The apparatus of claim 42 further comprising automated valuation model evaluation means connected to said means for evaluating each property for evaluating at least one of the automated valuation models used in the method by said means for evaluating each property.

19. A computer-based method of computing the rate of change of valuations for each property in a predetermined geographic area comprising the steps of:

evaluating each property in said predetermined geographic area at predetermined time intervals using an automated valuation model, and

computing the rate of change of value of each property in said predetermined geographic area between said predetermined time intervals.

20. The method of claim 19 further comprising the step of preparing a table of said predetermined geographic area with valuation indicia thereon corresponding to the valuation of each subject property in said predetermined geographic area.

21. The method of claim 19 further comprising the step of preparing a map of said predetermined geographic area with rate of change of valuation indicia thereon corresponding to the rate of change of valuation of each subject property in said predetermined geographic area.

22. The method of claim 21, wherein said map is on a graphic medium.

23. The method of claim 22, wherein said map is color-coded.

24. The method of claim 21, wherein said map is displayed on a computer screen.

25. The method of claim 19, further comprising the step of preparing a map of said predetermined geographic area with valuation indicia thereon corresponding to the rate of change of valuation of each property represented on a collective basis.

28. A computer-based apparatus for providing valuations for each property in a predetermined geographic area comprising:

means for evaluating each property in said predetermined geographic area using an automated valuation model, and

means connected to said evaluating means to activate said evaluating means to reevaluate each property in said predetermined geographic area at predetermined time intervals using an automated valuation model.

40. A computer-based apparatus for computing the rate of change of valuations for each property in a predetermined geographic area comprising:

means for evaluating each property in said predetermined geographic area at predetermined time intervals using an automated valuation model, and

means connected to said evaluating means for computing the rate of change of value of each property in said predetermined geographic area between said predetermined time intervals.

43. The apparatus of claim 40, wherein said map preparation means includes means for preparing a color-coded map.

46. The apparatus of claim 43, wherein said automated valuation model evaluation means includes means for comparing the valuation of at least one property in the geographic area produced by said evaluated automated valuation model with sales of a plurality of comparable properties in said predetermined geographic area.