System and Method for Determining a Real Estate Property Valuation

• US 20080301064A1
• Filed: 10/05/2006
• Published: 12/04/2008
• Est. Priority Date: 10/05/2006
• Status: Abandoned Application

• Current Assignee: Contemporaneous Pricing Technologies Incorporated
• Original Assignee: Contemporaneous Pricing Technologies Incorporated
• Inventors: Burns, James M.
• Application Number:
  US11/538,996
• Publication Number:
  US 20080301064A1
• Time in Patent Office: Days
• US Class Current: 705/400
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 50/16 Real estate

Abstract

Methods and systems for establishing a contemporaneous Real Estate property valuations are disclosed. In accordance with one aspect of the invention, this is based upon first identifying a set of relevant value indicators, or Fields, and then producing a comprehensive Multiple Regression Analysis which statistically measures the relative value of Real Estate properties included in the Set.

Claims

1. A method of establishing a valuation of a real estate property in a preselected area, comprising:

acquiring data relating to a set of real estate properties currently offered for sale in the preselected area, the data having a plurality of parameters including a listing price;

analyzing the data relating to the set of real estate properties including at least the listing price to establish the valuation.

2. The method of claim 1, wherein the step of analyzing performs a regression analysis on the plurality of parameters.

3. The method of claim 1, wherein the step of analyzing performs a multiple regression analysis on the plurality of parameters.

4. The method of claim 3, wherein the listing price of the real estate property is a dependant variable.

5. The method of claim 1, wherein the data is from a multiple listing database.

6. The method of claim 4, wherein the data is from a multiple listing database.

7. The method of claim 3, comprising analyzing the data to determine statistically significant parameters which are used in the analyzing step.

8. The method of claim 7, wherein the statistically significant parameters include a number of baths, taxes, and lot square footage.

9. The method of claim 7, wherein the data is from a multiple listing database.

10. The method of claim 1, wherein the real estate property is not currently offered for sale, comprising:

acquiring data on the real estate property not currently offered for sale, the data having a plurality of parameters;

analyzing the data on the real estate property not currently offered for sale and the data on the set of real estate properties to establish the valuation.

11. A system for establishing a valuation of a real estate property in a preselected area, comprising:

a processor;

application software operable on the processor, the application software operable to;

acquiring data relating to real estate properties currently offered for sale in the preselected area, the data having a plurality of parameters including a listing price;

analyzing the data relating to the set of real estate properties including at least the listing price to establish the valuation.

12. The system of claim 11, wherein the plurality of parameters are analyzed using a regression analysis.

13. The system of claim 11, wherein the plurality of parameters are analyzed using a multiple regression analysis.

14. The system of claim 13, wherein the listing price of the real estate property is a dependant variable.

15. The system of claim 11, wherein the data is from a multiple listing database.

16. The system of claim 14, wherein the data is from a multiple listing database.

17. The system of claim 13, wherein the analysis includes determining statistically significant parameters which are used in the analyzing step.

18. The system of claim 17, wherein the statistically significant parameters include a number of baths, taxes, and lot square footage.

19. The system of claim 17, wherein the data is from a multiple listing database.

20. The system of claim 11, wherein the real estate property is not currently offered for sale and the processor is further operable to:

acquire data on a real estate property not currently offered for sale in the preselected area, the data having a plurality of parameters;

analyzing the data on the real estate property not currently offered for sale and the data on the set of real estate properties to establish the valuation.

21. A method of valuing a parameter associated with a real estate property, comprising:

acquiring data relating to a set of real estate properties currently offered for sale in the preselected area, the data including the parameter;

analyzing the data relating to the set of real estate properties including the parameter using a multiple regression analysis with the parameter as a dependant variable to establish the valuation.