Real estate appraisal using predictive modeling

Details Real estate appraisal using predictive modeling Real estate appraisal using predictive modeling

1992-10-19

1994-11-01

McElheny, Jr., Donald E.

Boots, shoes, and leggings

36441919, 395 23, G06F 1518, G06F 1540

Patent

active

053612019

ABSTRACT:
An automated real estate appraisal system (100) and method generates estimates of real estate value using a predictive model such as a neural network (908). The predictive model (908) generates these estimates based on learned relationships among variables describing individual property characteristics (905) as well as general neighborhood characteristics at various levels of geographic specificity (906). The system (100) may also output reason codes indicating relative contributions (1009) of various variables to a particular result, and may generate reports (701) describing property valuations, market trend analyses, property conformity information, and recommendations regarding loans based on risk related to a property.

REFERENCES:
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Carlson, E, "Self-Organizing Feature Maps for Appraisal of Land Value of Shore Parcels", Artificial Neural Networks, 1991.

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