Automatically determining a current value for a home
First Claim
Patent Images
1. A non-transitory storage device storing a program to cause a computing system having a processor to perform a method for generating a display relating to a named geographic area, the method comprising:
- for each of substantially all of the homes in the named geographical area, accessing an estimated current value attributed to the home based on automatically comparing the attributes of the home to attributes of homes recently sold in the named geographic area using each of a plurality of classification trees among a forest of classification trees, each classification tree of the forest classifying a plurality of homes and their recent selling prices based on values for the homes of the plurality of a random subset of home attributes;
with the processor, applying an aggregation function to the accessed estimated current values to obtain an aggregation result; and
causing to be displayed a characterization of the current value of homes in the named geographic area that is based on the aggregation result.
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Abstract
A facility for valuing a distinguished home located in a distinguished geographic area is described. The facility receives home attributes for the distinguished home. The facility obtains valuation for the distinguished home by applying to the received home attributes evaluation model for homes in the distinguished geographic area that has been trained using selling price and home attribute data from homes recently sold in the distinguished geographic area. The facility reports the obtained valuation for the distinguished home.
96 Citations
15 Claims
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1. A non-transitory storage device storing a program to cause a computing system having a processor to perform a method for generating a display relating to a named geographic area, the method comprising:
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for each of substantially all of the homes in the named geographical area, accessing an estimated current value attributed to the home based on automatically comparing the attributes of the home to attributes of homes recently sold in the named geographic area using each of a plurality of classification trees among a forest of classification trees, each classification tree of the forest classifying a plurality of homes and their recent selling prices based on values for the homes of the plurality of a random subset of home attributes; with the processor, applying an aggregation function to the accessed estimated current values to obtain an aggregation result; and causing to be displayed a characterization of the current value of homes in the named geographic area that is based on the aggregation result. - View Dependent Claims (2, 3, 4, 5)
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6. A non-transitory storage device for storing a program to cause a computing system having a processor to perform a method for displaying a trend in the overall valuation of homes in a named geographical area, the method comprising:
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at a first time; with the processor, training a first model that values houses in the named geographical area based on their attributes, using attributes and selling prices for homes in the named geographical area that sold in a first period ending before the first time, the first model being a first forest of classification trees, the first forest comprising a plurality of classification trees, each classification tree of the first forest classifying a plurality of homes and their recent selling prices based on values for the homes of the plurality of a random subset of home attributes; for each of substantially all of the homes in the named geographical area, applying a plurality of classification trees of the first model to the home'"'"'s attributes to obtain an estimated valuation of the home; and applying an aggregation function to the obtained estimated valuations to obtain a first overall valuation of homes in the named geographical area; at a second time later than the first time; training a second model that values houses in the named geographical area based on their attributes, using attributes and selling prices for homes in the named geographical area that sold in a second period ending before the second time, the second model being a second forest of classification trees, the second forest comprising a plurality of classification trees, each classification tree of the second forest classifying a plurality of homes and their recent selling prices based on values for the homes of the plurality of a random subset of home attributes; for each of substantially all of the homes in the named geographical area, applying a plurality of classification trees of the second model to the home'"'"'s attributes to obtain an estimated valuation of the home; and applying an aggregation function to the obtained estimated valuations to obtain a second overall valuation of homes in the named geographical; and generating a display comparing the first and second overall valuations. - View Dependent Claims (7, 8, 9, 10, 11, 12, 13)
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14. A method in a computer system having a processor for generating a display relating to a named geographic area, the method comprising:
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for each of substantially all of the homes in the named geographical area, accessing an estimated current value attributed to the home based on automatically comparing the attributes of the home to attributes of homes recently sold in the named geographic area using each of a plurality of classification trees among a forest of classification trees, each classification tree of the forest classifying a plurality of homes and their recent selling prices based on values for the homes of the plurality of a random subset of home attributes; with the processor, applying an aggregation function to the accessed estimated current values to obtain an aggregation result; and causing to be displayed a characterization of the current value of homes in the named geographic area that is based on the aggregation result.
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15. A method in a computer system having a processor for displaying a trend in the overall valuation of homes in a named geographical area, the method comprising:
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at a first time; with the processor, training a first model that values houses in the named geographical area based on their attributes, using attributes and selling prices for homes in the named geographical area that sold in a first period ending before the first time, the first model being a first forest of classification trees, the first forest comprising a plurality of classification trees, each classification tree of the first forest classifying a plurality of homes and their recent selling prices based on values for the homes of the plurality of a random subset of home attributes; for each of substantially all of the homes in the named geographical area, applying a plurality of classification trees of the first model to the home'"'"'s attributes to obtain an estimated valuation of the home; and applying an aggregation function to the obtained estimated valuations to obtain a first overall valuation of homes in the named geographical area; at a second time later than the first time; training a second model that values houses in the named geographical area based on their attributes, using attributes and selling prices for homes in the named geographical area that sold in a second period ending before the second time, the second model being a second forest of classification trees, the second forest comprising a plurality of classification trees, each classification tree of the second forest classifying a plurality of homes and their recent selling prices based on values for the homes of the plurality of a random subset of home attributes; for each of substantially all of the homes in the named geographical area, applying a plurality of classification trees of the second model to the home'"'"'s attributes to obtain an estimated valuation of the home; and applying an aggregation function to the obtained estimated valuations to obtain a second overall valuation of homes in the named geographical; and generating a display comparing the first and second overall valuations.
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Specification