The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Jul. 23, 2024
Filed:
Sep. 23, 2011
Elif Onmus-baykal, Arlington, VA (US);
Eric Rosenblatt, Derwood, MD (US);
Dwayne D. Seegars, Columbia, MD (US);
Herbert F. Frymark, Jr., Gaithersburg, MD (US);
Benjamin Ross Hoffman, Washington, DC (US);
Elif Onmus-Baykal, Arlington, VA (US);
Eric Rosenblatt, Derwood, MD (US);
Dwayne D. Seegars, Columbia, MD (US);
Herbert F. Frymark, Jr., Gaithersburg, MD (US);
Benjamin Ross Hoffman, Washington, DC (US);
Fannie Mae, Washington, DC (US);
Abstract
Indexing and adjusting for property condition in an automated valuation model. Property data corresponding to a geographical area is accessed, and a regression is performed based upon the property data. The regression models the relationship between a dependent variable, such as price, and property-characteristic explanatory variables. Further regression is then performed and models or further explains the relationship between the dependent variable and property condition explanatory variables. Specifically, further regression may model the relationship between the residual from the first regression and the property condition variables. Optional examples of these variables are those based upon the presence of predetermined remarks in associated property listings, the number of photos in such listings, and a categorical year built variable. The regression is used to determine a property-condition index for the geographical area. The property-condition index identifies a predicted condition that is used to make adjustments to comparable properties in automated valuation modeling.