PROPERTY VALUE ESTIMATION WITH CATEGORICAL LOCATION VARIABLE PROVIDING NEIGHBORHOOD PROXY
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United States of America Patent
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Issued Date -
Aug 23, 2012
app pub date -
Feb 22, 2011
filing date -
Feb 22, 2011
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
Model-based property value estimation with that implements a categorical location variable providing a neighborhood proxy. A regression models the relationship between sale price and a set of explanatory variables. These explanatory variables include a location variable that is defined at a level of granularity such that the location variable acts as a proxy for location within a neighborhood. An infill process remedies the effects of insufficient amounts of location variable data.
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