Real estate appraisal using predictive modeling
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United States of America Patent
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Nov 1, 1994
Grant Date -
N/A
app pub date -
Oct 19, 1992
filing date -
Oct 19, 1992
priority date (Note) -
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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.
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