AUTOMATED VALUATION MODEL WITH COMPARATIVE VALUE HISTORIES
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Abstract
An automated valuation model and corresponding analysis tool that graphically displays value history information in association with a subject property is disclosed. In one example, the tool generates a graph plotting the valuation history of a subject property over an adjustable time range in relation to a general price index for a pertinent geographical area. When looking at an appraisal for a property, the graph also supports selective plotting of appraiser-selected comparable properties'"'"' valuation histories against that of the subject property. The valuation history for comparable properties can be scaled on a pro-rata basis according to the percentage of the adjustments made within the appraisal. In addition, the graph selectively incorporates model-generated comparables and their valuation histories.
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Citations
39 Claims
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1-20. -20. (canceled)
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21. A method for assessing property valuation comprising:
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receiving, by a computing system, a request to assess a subject property; determining, by the computing system, a comparable property for comparison to the subject property; generating, by the computing system, a present estimated valuation of the subject property; generating, by the computing system, a first set of value history information for the subject property, the first set of value history information including the present estimated valuation of the subject property and at least one prior realized transactional valuation of the subject property; generating, by the computing system, a second set of value history information for comparison to the subject property by extrapolating from a most recent instance of said at least one prior realized transactional valuation of the subject property based on a home price index for a geographical area in which the subject property is located; generating, by the computing system, a third set of value history information for the comparable property, the third set of value history information including at least two prior realized transactional valuations of the comparable property; and displaying, by the computing system, the first, second, and third sets of value history information comparatively and distinguishably in the form of a graph with a time axis and a valuation axis. - View Dependent Claims (22, 23, 24, 25, 26, 27, 28, 29)
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30. A non-transitory computer readable medium storing program code for assessing property valuation, the program code being executable by a processor of a computing system for performing operations comprising:
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receiving, by the computing system, a request to assess a subject property; determining, by the computing system, a comparable property for comparison to the subject property; generating, by the computing system, a present estimated valuation of the subject property; generating, by the computing system, a first set of value history information for the subject property, the first set of value history information including the present estimated valuation of the subject property and at least one prior realized transactional valuation of the subject property; generating, by the computing system, a second set of value history information for comparison to the subject property by extrapolating from a most recent instance of said at least one prior realized transactional valuation of the subject property based on a home price index for a geographical area in which the subject property is located; generating, by the computing system, a third set of value history information for the comparable property, the third set of value history information including at least two prior realized transactional valuations of the comparable property; and displaying, by the computing system, the first, second, and third sets of value history information comparatively and distinguishably in the form of a graph with a time axis and a valuation axis. - View Dependent Claims (31, 32, 33, 34, 35, 36, 37, 38)
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39. An electronic apparatus, comprising:
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a processor; a display device; an input device; and a memory having program code stored thereon for assessing property valuation, the program code being executable by the processor for performing operations comprising; receiving, by the input device, a request to assess a subject property; determining, by the processor, a comparable property for comparison to the subject property; generating, by the processor, a present estimated valuation of the subject property; generating, by the processor, a first set of value history information for the subject property, the first set of value history information including the present estimated valuation of the subject property and at least one prior realized transactional valuation of the subject property; generating, by the processor, a second set of value history information for comparison to the subject property by extrapolating from a most recent instance of said at least one prior realized transactional valuation of the subject property based on a home price index for a geographical area in which the subject property is located; generating, by the processor, a third set of value history information for the comparable property, the third set of value history information including at least two prior realized transactional valuations of the comparable property; and displaying, by the display device, the first, second, and third sets of value history information comparatively and distinguishably in the form of a graph with a time axis and a valuation axis.
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Specification