×

Method and apparatus for predicting and reporting a real estate value based on a weighted average of predicted values

  • US 6,876,955 B1
  • Filed: 12/20/2002
  • Issued: 04/05/2005
  • Est. Priority Date: 12/28/2001
  • Status: Active Grant
First Claim
Patent Images

1. A method of predicting a value of a property based on a weighted average of values predicted by at least two prediction models, the method comprising the steps of:

  • accessing predicted values, determined by the prediction models, for the property;

    determining property-specific proportional prediction error information for the predicted values determined by each of the prediction models, the property-specific proportional prediction error information including a proportional prediction error that is proportional to a value of the property;

    assigning a weight to the predicted value determined by each prediction model by using the property-specific proportional prediction error information; and

    generating a property-specific weighted average value based on combination of the weight and the predicted value determined by each prediction model and reporting the property-specific weighted average value to minimize prediction error during prediction of the property value.

View all claims
  • 1 Assignment
Timeline View
Assignment View
    ×
    ×