SYSTEM AND METHOD FOR INCLUDING AND EXCLUDING SPECIFIC COMPARABLES

• US 20130339094A1
• Filed: 06/13/2012
• Published: 12/19/2013
• Est. Priority Date: 06/13/2012
• Status: Abandoned Application

• Current Assignee: Fannie Mae
• Original Assignee: Fannie Mae
• Inventors: Berry, Megan C., Meale, Felix G., Rosenblatt, Eric, Seegars, Dwayne D., Frymark, Herbert F. Jr.
• Application Number:
  US13/495,604
• Publication Number:
  US 20130339094A1
• Time in Patent Office: Days
• US Class Current: 705/7.34
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0205 Location or geographical consideration
• CPC Class Codes: G06Q 50/16 Real estate

Abstract

A system and method for automatically accessing property data corresponding to properties within the geographic area and displaying on a display device a map corresponding to said geographic area. Applying a comparable selection model based on a subject to the property data to generate a set of comparable properties, altering the set of comparable properties based on a variation command to generate an altered comparable property set, and displaying on the display device the map with the altered comparable property information.

Claims

1. A method for comparable property analysis, comprising:

accessing property data corresponding to a set of properties within a geographic area;

applying a comparable selection model to the property data to generate a set of comparable properties for a subject property and to assign an original ranking to the set of comparable properties, the comparable selection model utilizing a hedonic regression and applies exclusion rules to the property data;

altering the set of properties to produce an altered set of properties and separately applying the comparable selection model a second time to the altered set of properties to generate an updated set of comparable properties and an updated ranking that is specific to the altered set of properties; and

displaying a list of the updated set of comparable properties, including the original ranking and the updated ranking for each property in the list.

2. The method of claim 1,

wherein altering the set of properties comprises executing an inclusion command that produces the altered set of properties by introducing additional properties not included in the set of properties.

3. The method of claim 1,

wherein altering the set of properties comprises executing an exclusion command that produces the altered set of properties by removing properties from the set of properties.

4. The method of claim 1,

wherein altering the set of properties comprises executing a drawing tool command that produces the altered set of properties by including properties within a shape drawn on a map.

5. The method of claim 1, further comprises:

automatically suggesting comparable properties to be included in or excluded from the set of comparable properties and altering the set of comparable properties based on the suggesting comparable properties.

6. The method of claim 1, further comprising:

adjusting the altered set of properties in accordance with properties residing in a displayed map image,

wherein an update of the map image automatically updates the altered set of properties.

7. The method of claim 1, further comprising:

displaying contemporaneously with a map image a table listing comparable properties from the altered set of properties,

wherein the table includes the original ranking and the updated ranking for each comparable property listed in the table.

10. The method of claim 1, further comprising:

displaying contemporaneously with a map image a table listing comparable properties from the altered set of properties,

wherein altering the set of properties comprises executing a direct selection command that identifies individual properties within the geographic area for exclusion from or inclusion in the altered set of properties.

11. The method of claim 10, further comprising:

wherein the table is automatically updated based on the direct selection command.

14. The method of claim 1, wherein altering the set of comparable properties comprises:

including in the altered set of properties comparable properties not included in the set of comparable properties; and

excluding from the altered set of properties comparable properties included in the set of comparable properties.

16. The method of claim 1, wherein the exclusion rules applied by the hedonic regression narrow to the property data based on an acceptable age similarly or an acceptable lot size similarity to the set of comparable properties for a subject property.

8. (canceled)

9. (canceled)

12. A computer program product stored on a non-transitory computer readable medium that when executed by a computer performs comparable property analysis operations, comprising:

accessing, by the computer, property data corresponding to a set of properties within a geographic area;

applying, by the computer, a comparable selection model to the property data to generate a set of comparable properties for a subject property and to assign an original ranking to the set of comparable properties, the comparable selection model utilizing a hedonic regression and applying exclusion rules to the property data;

altering, by the computer, the set of properties to produce an altered set of properties and separately applying the comparable selection model a second time to the altered set of properties to generate an updated set of comparable properties and an updated ranking that is specific to the altered set of properties; and

displaying, by the computer, a list of the updated set of comparable properties, including the original ranking and the updated ranking for each property in the list.

15. The computer program product of claim 12, wherein altering the set of comparable properties comprises:

including in the altered set of properties comparable properties not included in the set of comparable properties; and

excluding from the altered set of properties comparable properties included in the set of comparable properties.

17. The computer program product of claim 12, wherein the exclusion rules applied by the hedonic regression narrow to the property data based on an acceptable age similarly or an acceptable lot size similarity to the set of comparable properties for a subject property.

13. (canceled)