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:
Oct. 26, 2010
Filed:
Dec. 26, 2002
Chionglong Kuo, Arlington, VA (US);
Chionglong Kuo, Arlington, VA (US);
Fannie Mae, Washington, DC (US);
Abstract
A method for estimating a real estate price index based on a repeat sales model. The method includes the steps of eliminating corrupt portions of data used to determine price indices; regressing a difference in a log price of a second sale minus a log price of a first sale for a property on a set of dummy variables, eliminating the observations with zero residuals for estimating the dispersion function; using a quadratic formula to model a dispersion of residual values with respect to time interval; using the quadratic formula to solve for a dispersion for each time interval starting with a minimum positive value; determining a minimum dispersion value that is a value calculated from the quadratic formula; determining a maximum dispersion value that is calculated from the quadratic formula for each time interval starting with a minimum positive value, wherein the dispersion values are prevented from decreasing with increasing time intervals; repeating the step of regressing using the inverse of the square root of fitted values from the quadratic formula as weights; identifying and selecting the time periods and associated data for estimating a price index that covers a particular time period; excluding the index values which are determined to be unreliable; and obtaining an index series for a lower geographic level by using the index series of a higher geographic level.