Patent ID: 7930254
Filing Date: 2011-04-19
Classification: G06Q

Abstract:
1. A computer implemented method for determining estimated values for properties, the method comprising: performing, by a computer, a regression based upon a plurality of property features for properties in a relatively large geographical area and determining coefficients that correspond to each of the plurality of property features based upon the regression; identifying, by a computer, a set of comparable properties from a section of the relatively large geographical area; calculating, by a computer, a feature distance between each property from the set of comparable properties and a target property using the coefficients from the previously performed regression, the feature distance providing a quantified indication of the difference between each property from the set of comparable properties and the target property for the plurality of property features, wherein the feature distances are independent of the physical distance between the target property and the comparable properties; and determining, by a computer, an estimated value for the target property based upon a value of each of the comparable properties and adjustments based upon the calculated feature distances.