System and method for finding, analyzing, controlling, timing and strategizing real estate investing online

• US 20060089842A1
• Filed: 10/22/2004
• Published: 04/27/2006
• Est. Priority Date: 10/22/2004
• Status: Abandoned Application

• Current Assignee: Cherif R. Medawar
• Original Assignee: Cherif R. Medawar
• Inventors: Medawar, Cherif R.
• Application Number:
  US10/971,717
• Publication Number:
  US 20060089842A1
• Time in Patent Office: Days
• US Class Current: 705/4
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 50/16 Real estate

Abstract

The present invention teaches a computer implemented method for providing comprehensive real estate services to subscribing users via a remote computer network comprising the acts of: providing a computer network for researching real estate; receiving a plurality of property listings from a plurality of property listing sources including realtors, owners, brokers, lending institutions and state and local governments; providing user searches of the plurality of property listings; providing value analysis for the plurality of property listings in order to enable users to select undervalued and fairly valued properties, wherein the value analysis includes displaying a color indicating whether a property is overpriced; providing a service for users to purchase selected properties through the remote computer network without independently contacting agents; providing documents necessary for the purchase; providing instruction relating to the purchase; and providing financial services to enable the purchase.

Claims

1. A computer implemented method for providing comprehensive real estate services to subscribing users comprising the acts of:

providing a computer network for determining real estate value;

providing to the computer network data relating to real estate value;

determining relative value of a selected property responsive to sales prices of similarly situated property;

determining asking price for the selected property;

comparing the relative value of the selected property to the asking price of the selected property; and

displaying a purchase value indicator of the comparison to a user such that the user can determine whether a property is priced above or below the relative value.

2. A method as recited in claim 1, wherein the purchase value indicator is color coded to indicate whether the selected property is priced above or below the relative value.

3. A method as recited in claim 1, wherein the purchase value indicator includes a directional element indicative of whether the asking price of the selected property is above or below the relative value of the selected property.

4. A method as recited in claim 2, wherein the color coding includes a gradation to indicate a relative level of a difference between the relative value and the asking price.

5. A method as recited in claim 1, wherein the data includes at least one of the following elements:

square footage;

number of bedrooms;

number of baths;

number of floors;

age of structure, and wherein the relative value is responsive to at least one of the elements.

6. A method as recited in claim 5, wherein the data includes sale prices for a plurality of properties in various geographic areas, and wherein the data further includes other data for the plurality of properties, the other data including at least one of the following elements for each of the plurality of properties:

comparable square footage;

comparable number of bedrooms, comparable number of baths;

comparable number of floors, comparable age of structure.

7. A method as recited in claim 6 further comprising:

determining the relative value responsive to a specific geographic location for the selected property, wherein the relative value is determined by comparing valuation data for the selected value with valuation data for other properties with similar geographic valuation factors.

8. A method as recited in claim 7 wherein the geographic valuation factors include demographic information relating to the plurality of other properties.

9. A method as recited in claim 7, further comprising providing a map display in which relative values are differentiated by colors indicating relative values of real estate offered for sale by geography, wherein undervalued property is colored differently than over valued property.

10. A method as recited in claim 7, wherein the geographic valuation factors are provided by a third party computer network.

11. A method as recited-in claim 2, wherein a green color indicates that the selected property is priced below the relative value and wherein a red color indicates that the selected property is priced above the relative value.

12. A method as recited in claim 1, further comprising providing property listing services for property owners and agents.

13. A method as recited in claim 1, further providing value analysis for a plurality of property listings in order to enable users to select undervalued and fairly valued properties, wherein the value analysis includes displaying a color indicating whether a property is overpriced, and further includes providing analysis of market trends in property value.

14. A method as recited in claim 1, further comprising:

providing property management services for analyzing cash flow of rental properties, wherein the property management services are further capable of providing analysis of financial consequences of rental transactions and condominium conversions relating to the rental properties, including tax consequences.

15. The computer implemented method of claim 1, further comprising:

compiling a list of multiple properties meeting selected search criteria, wherein each property includes an asking price;

determining a market value for each property using third party computer data services;

comparing each market value with each asking price to determine relative purchase value;

displaying the list of multiple properties with color coding indicating which properties are undervalued.

16. The computer implemented method of claim 1, further comprising:

providing financial analysis for the selected property including property tax information, loan information, and income tax deduction analysis.

17. The method of claim 1, including;

providing services for purchasing the selected property online including step by step instructions for the purchasing process;

providing financing for the purchase;

providing documentation necessary for the purchase;

providing insurance for the selected property;

providing inspection services for the selected property;

providing title services relating to the selected property; and

providing escrow services for the purchase.

18. The computer implemented method of claim 1, further including the acts of:

providing purchase services for acquiring the selected property; and

providing insurance service which provides a safeguard against the acquired property dropping in value, thus reducing the risk associated with purchasing real property.

19. A computer implemented method for providing comprehensive real estate services to subscribing users via a remote computer network comprising the acts of:

providing a computer network for researching real estate;

providing to the computer network data relating to real estate value;

receiving from a client property search parameter range;

performing a property search in response to the search parameter range;

retrieving one or more properties conforming to the search parameter range;

retrieving asking prices for each of the one or more properties conforming to the search parameter range;

determining a market value of an ideal property for each of one or more properties conforming to the search parameter range;

comparing each the market value to each corresponding asking price to determine differences in market values and asking prices; and

providing a color coded listing of each the one or more properties conforming to the search parameters, wherein the color coding indicates whether purchase of the one or more properties is recommended.

20. A computer method for providing comprehensive real estate services to subscribing users via a remote computer network comprising the acts of:

providing a computer network for researching real estate;

receiving a plurality of property listings from a plurality of property listing sources including realtors, owners, brokers, lending institutions and state and local governments;

providing user searches of the plurality of property listings;

providing value analysis for the plurality of property listings in order to enable users to select undervalued and fairly valued properties, wherein the value analysis includes displaying a color indicating whether a property is overpriced;

providing a service for users to purchase selected properties through the remote computer network without independently contacting agents;

providing documents necessary for the purchase;

providing instruction relating to the purchase; and

providing financial services to enable the purchase.