Abstract:
An asset information management system is provided to facilitate investment information gathering, managing, trending, and sharing of information. In the preferred configuration, at least one computer system is connected to the Internet or other data source via a communications device. The communications device provides electronic data such as public data, market forecast data and parcel historical data based on search criteria. The electronic data can be combined with user information to create output charts, graphs, and reports including market trends, forecasting, and current valuations. The system also provides a function to exchange and/or compare information from two or more users toward buying real estate, selling real estate, exchanging real estate assets, or to offer advice on a valuation. Additionally, the system can be attached to a mapping system such as GIS, or satellite mapping. This invention allows investment messages or advertisements to be sent and received to an electronic device or many.

Description:
CROSS REFERENCE TO RELATED APPLICATIONS  
       [0001]     The present application claims the benefit of U.S. Provisional Application Ser. No. 60/672,355 filed Apr. 18, 2005, which is incorporated by reference herein in its entirety. 
     
    
     FIELD OF INVENTION  
       [0002]     This Invention relates generally to the managing and gathering of information pertaining to investable assets or assets that may fluctuate in price due to changing market conditions. Particularly, this invention relates to a system to manage real estate investment information such as valuations, trends, forecasting and profit/loss data from public records and other available electronic data to minimize risk in light of other investments, employment environment and other economic indicators and to determine the best investment opportunities. Furthermore, the invention relates to the sending and/or receiving of messages or advertisements relating to such investments or actions. Additionally, the invention relates to providing GIS, satellite maps and/or mapping software interfaces to provide visual images of investment property.  
       BACKGROUND OF INVENTION  
       [0003]     Today, for a large majority of the population, a real estate investment by way of their home where they currently reside is by far their biggest asset and investment vehicle. Yet no tools exist to track and manage this investment without the help of a Realtor or other such agent. Furthermore, even less help is available to manage the risk taking into account other investments and economic data. This system targets an interactive comparison based investment system for the investor whose biggest investment will most likely be their residence or other real estate property. Furthermore, this invention provides an advanced risk management technique that hedges other investments and/or lifestyle decisions to enhance the user&#39;s financial outlook. This invention illustrates how this data can be used to benefit homebuyers, home sellers, realtors, realtor office accountants, homebuilders, mortgage brokers, lenders and other investors.  
         [0004]     A need exists to combine diverse real estate information retrieved from a variety of repositories in order to better evaluate investment opportunities in comparison of other similar opportunities. This information can include government public data, employment data, user-entered data, recent sales information, historical sales information, localized similar property comparison information and other user&#39;s shared information among others.  
         [0005]     A further need exists for a system to display comparison data to the user either via an Internet web page running on a web server or a local GUI application running on the user&#39;s computer. A further need exists for a system to save the retrieved and manipulated information on a data store located on a web server or locally.  
         [0006]     A further need exists to provide a service either through a web site or other electronic system to allow users to buy, sell, trade or auction properties.  
       SUMMARY OF THE INVENTION  
       [0007]     It is an object of the invention to provide a real estate information retrieval and management system to automate the process of real estate property valuation.  
         [0008]     It is a further object of the invention to provide a method of retrieving and analyzing real estate information by merging public data, user data and other information to evaluate investment opportunities that can be saved and/or displayed in a variety of user defined ways.  
         [0009]     It is a further object of this invention to provide an e-commerce or similar Internet site to allow users to retrieve and view real estate valuation data for any property. It is a further object of this invention to allow users to sell, buy, trade or auction properties at the e-commerce or similar Internet site.  
         [0010]     It is a further object of the invention to provide a system for assessing investment value, trending and risk management. It is a further object of the invention to assist users whose primary investment vehicle is the home where they reside. Furthermore, it is an object of the invention to assist real estate buyers, real estate sellers, Realtors, real estate investors, mortgage brokers, lenders and homebuilders to assess the investment qualities of a property or land.  
         [0011]     It is a further object of this invention to assist realtors in marketing their services with the data provided by this system. It is a further object of this invention to provide training for realtors with the assistance of the data provided by this system. It is a further object of this invention to provide data to realtor accounting systems to aid in financial forecasting and other accounting and/or financial tasks.  
         [0012]     It is an additional object of this invention to consider economic inflation, taxes at all levels, savings levels and retirement benefits of investors to best analyze the investment risk, forecasting and allocation. It is a further object of this invention to provide a risk management system to a large population of investors whose real estate investment by way of their home where they currently reside is by far their biggest asset and investment vehicle.  
         [0013]     Furthermore, it is an object of this invention to help mortgage brokers and lenders reduce risk and manage investment valuations and fluctuations.  
         [0014]     Additionally, it is an object of this system to be tied to an earth mapping system such as GIS, Satellite maps or Mapping software.  
         [0015]     It is a further object of the invention to provide both the ability to receive and send messages related to investment information or based on user search criteria to and from a data server like the Internet. Additionally, it is a further object for this invention to provide up to date and timely information to the user based on current users searches and current data being analyzed.  
         [0016]     The invention may be implemented using a computerized system including at least one computer connected to the Internet, a computer with a Database module, and a computer with a GUI module used to present retrieved and processed information to the user. It is possible that a single computer may be used for all processing.  
         [0017]     All of the objects of this invention including the ones detailed above and others will become more apparent in the detailed description of this invention. 
     
    
     BRIEF DESCRIPTION OF THE DRAWINGS  
       [0018]      FIG. 1  is an overview of the preferred process involved in this invention.  
         [0019]      FIG. 2  shows the preferred embodiment of the invention system.  
         [0020]      FIG. 3  shows the preferred embodiment of the invention apparatus.  
         [0021]      FIG. 4  is the high-level system architecture diagram.  
         [0022]      FIG. 5  is the preferred embodiment of the main search dialog.  
         [0023]      FIG. 6  is the preferred embodiment of the communications module functions.  
         [0024]      FIG. 7  is the preferred embodiment of the data parser function table.  
         [0025]      FIG. 8  is the preferred embodiment of the database fields and automated information.  
         [0026]      FIG. 9  is the preferred embodiment of the main workspace.  
         [0027]      FIG. 10  is the preferred embodiment of the automated search data and partial search match list.  
         [0028]      FIG. 11  are depictions of sample reports data.  
         [0029]      FIG. 12  is the preferred embodiment of the investment average, minimum, maximum Graph.  
         [0030]      FIG. 13  is the preferred embodiment of the satellite mapping system interface.  
         [0031]      FIG. 14  is the preferred embodiment of the message/advertisement communications system diagram.  
         [0032]      FIG. 15  shows the preferred connection between this invention and other real estate electronic systems.  
         [0033]      FIG. 16  shows the preferred embodiment of the messaging system connected to external communication devices such as cell phones, PDAs and other electronic messaging systems. 
     
    
     DETAILED DESCRIPTION OF INVENTION  
       [0034]     The present invention now will be described more fully with reference to the accompanying drawings, in which several presently preferred embodiments of the invention are shown. This invention may, however, be embodied in various forms and should not be construed as limited to the embodiments set forth herein. Rather, these embodiments are provided so that this disclosure will be thorough and complete, and will fully convey the scope of the invention to those skilled in the art.  
         [0035]     In the preferred embodiment, the invention allows the tracking of real estate valuations, sale comparisons, trend forecasting, transaction management, directed realtor marketing, information sharing and other real estate information management functions.  
         [0036]     Method  40  in  FIG. 1  describes the preferred process for this invention. In the first step  41 , a connection to the Internet is acquired. Next, in  42 , the user inputs search criteria using either a non-downloadable web or mobile device application or a downloadable application (see  160  in  FIG. 5 ).  
         [0037]     Next, in the preferred embodiment a novel real estate search engine(s) ( 103  in  FIG. 3 ) are used to retrieve real estate information from a variety of data sources including public data servers, real estate information servers and other government and public servers ( 43  in  FIG. 1 ). Next, the retrieved information is parsed and displayed in  44  to the user for inspection and further input. The user may then setup his workspace and data views in  45 . Additionally, the user may selectively download comparable parcel data in  46  if not already done or if further comparable parcel information is needed. The user may then select to input further information about the parcel in  47  that is know to the user such as room additions, kitchen remodeling or landscaping upgrades.  
         [0038]     Next, the selected downloaded data and user input data are used to analyze the data and calculate valuation estimations in  48  such as current parcel value, investment trend, forecasting and future growth estimates.  
         [0039]     Next, mapping and/or satellite imagery can be retrieved in  49  to view parcel property pictures and maps and to get property dimensions and other information as to property size and appearance.  
         [0040]     Finally, the data can be stored in  50  and/or published and shared in  51  and  52  respectively to a server used to buy, sell, trade or auction real estate property. The data can be stored to a non-downloadable data store on a server or to the user&#39;s local hard drive or portable memory device. This can be done by saving the data file for the target parcel along with comparable data which can later be loaded to retrieve the information that was saved.  
         [0041]     The diagram  70  in  FIG. 2  further depicts the preferred embodiment of the invention system. In this system a plurality of economic and real estate information servers  71  can be accessed to retrieve data based on simple search criteria in  72 . The Data Retrieval Engine(s) in  73  are then used to retrieve information which is then parsed ( 132  in  FIG. 4 ) and sent in  74  to the Investment Valuation Calculations module in  75 . This module will combine all the information to generate in  76  historical, current and future valuations based on the information for the current parcel (property), comparable parcel, local economic data, and national economic data. Optionally, global economic data can be used in the case of global real estate investment options.  
         [0042]     After valuations are completed a user may select to sell or auction their property in  79 ,  80 , and  81  or may just select to save in  78  their information and not publish the information.  
         [0043]     Graphs and charts are used to present the valuation data to the user along with textual explanation of results in  77 . The information includes estimates on present and future values of the property and investment feasibility based on local home rental rates and loan rates in the case where a loan is used to purchase the property.  
         [0044]     The diagram  82  in  FIG. 2  further shows how real estate buyers can use the Internet or similar technology to view real estate valuations for the purpose of buying investment property. This is accomplished by the user publishing in  79  their property valuations on a web site or auction site in  80  where Internet ( 81 ) users in  82  can search through the properties for investment or living real estate opportunities.  
         [0045]      100  in  FIG. 3  depicts the preferred embodiment of the invention apparatus. This diagram shows the invention apparatus in  106  connected to the Internet in  102 . The Internet provides a plurality of real estate information servers in  101  along with many local and national public data server which include economic data and parcel information again in  101 .  
         [0046]     The preferred invention apparatus includes one (1) or more Data Search Engines in  103 , User Input module in  104 , Real Estate Valuation module in  111 , Data Store in  107 , and Graphical Display in  105 .  
         [0047]     The user input module in  104  captures user search criteria which in turn is used by the Data Search Engine(s) in  103  to download information. The downloaded information is then combined with additional user input and passed to the Evaluation Calculation Engine(s) in  111  which generate investment valuations given the input data.  
         [0048]     At the end of the process the user can view in  105  the resultant calculations on the graphical display and optionally store and/or publish the data in  107 .  
         [0049]     As discussed above, the present invention can be implemented on a computer network that is connected to the Internet in  102  or similar network infrastructure. The Internet provides a plurality of real estate and economic information in  101  which can be used to calculate real estate property valuations in  111  using historic and current sales comparisons to estimate current and future values.  
         [0050]     In this exemplary system  100 , common elements are used through out to simplify the explanation, though actual implementations are not limited to this restriction. For example, the graphical display in  105  is shown as a standard computer monitor but any graphical display can be used such as those found on a cell phone, PDA, television, touch panel or other display capable of displaying graphics. Another example is the data store  107  which is shown in a general way but data can be stored in fixed store devices such as a hard drive or portable store devices such as Universal Serial Bus (USB) flash drives. Another example is the Data Search &amp; Download Engine  103  is shown as a single unit but a plurality of units may be used and the data combined for processing. A final example is the Evaluation Calculation Engine in  111  which again is shown as a single unit but a plurality of units may be used to calculate different valuations for any number of different scenarios that may play out in the future. Different scenarios are based on expected economic numbers that may have a range of values instead of a single value. For example, a range of inflation numbers may be used in different calculations so that one calculation uses one number and on the next a different number.  
         [0051]     In one aspect, the basic concept of this invention is to use simple user input by way of a property address to retrieve a plurility of public data and real estate information available from a variety of sources in  101 , and  120  and combining this information in  106  to generate valuation information for that property based on said downloaded information from  102 . Furthermore, satellite imagery, GIS maps and property pictures can be used in a number of ways to allow users to locate the property or drive to the property or get a notion of property dimensions and location.  
         [0052]     A non-downloadable application is any software instruction code running on hardware that does not reside on the users hardware. This includes code running on Internet web servers or other networked systems. In the case of non-downloadable software only input/output data is passed between the user and the host server running the application code. A downloadable application is defined as running the application instruction code on the users hardware instead of a server on the Internet.  
         [0053]     In the preferred embodiment the system can be split into five (5) modules: the GUI module in  137 , the database module (data store) in  139 , the HTTP driver in  136 , the HTTP data parser module in  131  and the data processor module in  140 .  
         [0054]     It is the task of the GUI module in  137  to present data to the user in  141  via the Internet in  138  or similar technology and to organize the data in an easy to use layout. The GUI will use a multi-window structure, which will be described later in this document. The database module in  139  will store information related to search results and information provided by the user. The database will be detailed later in this document. The HTTP driver in  136  connects the system application to the Internet in  135  or other data source. The HTTP driver in  136  exports functions to the system application to access the Internet in  135 . The HTTP driver is described further below. The HTTP data parser in  131  is used to parse the data retrieved by the HTTP driver in  136  and populate the database module in  139 . The data parser in  131  module is further detailed later. Finally, the data processor in  140  is the main data processing function. The data processing function retrieves data from the database module in  139  or Internet in  135  and combines with user provided data from  141  to calculate several trending, valuation, risk management, and forecasting variables for display. See the data processor section for further information.  
         [0055]     The system software architecture is depicted in  130  in  FIG. 4 . Initially, only one parse module in  132  is needed (Parse  1 ). Additionally, the GUI in  137 , Database in  139  and Data processor modules in  140  can be constructed as dynamic link libraries or static libraries.  
         [0056]     The GUI module in  137  displays processed and user data in one of several views. In the preferred embodiment the system supports three views  300  in  FIG. 9, 350  in  FIG. 10  and  400  in  FIG. 11 . The first view displays the initial search dialog  160  in  FIG. 5  and  300  in  FIG. 9 . This is the main dialog for the system.  160  in  FIG. 5  and  300  in  FIG. 9  are pictures of the initial search dialog.  
         [0057]     The main search dialog  300  in  FIG. 9  includes several fields including: last name  315 , first name  315 , business name  315 , street number  314 , street address  314 , City, State  312 , County  313 , and Zip code. Additional fields may be needed and may be added at a later time. The “Find/Search”  304  button should have focus, as this is the main task performed by this dialog. The “Save” button is used to update the database module when the information is accepted.  
         [0058]     The second view  350  in  FIG. 10  allows the user to generate a variety of reports including trending, present value, forecasting, and risk management data. It is the main dialog to view and select the Database module information or downloaded data. This has been designed to support all the fields found in  260  in  FIG. 8 .  
         [0059]     The third view displays the results computed by the Data Processor module and selected by the second view dialog  400  in  FIG. 11 .  
         [0060]     The HTTP module  136  in  FIG. 4  exports several functions that support access to the Internet  135  or other HTTP enabled data source. In the preferred embodiment the HTTP driver in  136  will be implemented in a DLL and export the relevant functions. A partial list of supported functions is provided on  190  in  FIG. 6 .  
         [0061]     The Parser module  131  in  FIG. 4  exports functions used to parse the received data from the Internet. There is one common interface, which all parsers must support. In the preferred embodiment one parser will be written  132 . Later, many more parsers  133 , and  134  will be written as such the parser must be very modular. In the preferred embodiment, the first parser in  132  will in fact set the interface architecture for the other parsers. In this manner the design should never change the interface once the first parser is written. Function methods may be added but none may be deleted. When architecting the interface one must keep in mind that code sharing will be very valuable, as many parsers will be written. It is therefore necessary to modularize within the parser module to the extent possible. An example function list is shown on  220  in  FIG. 7 .  
         [0062]     In the preferred embodiment either a Microsoft Access database or Oracle database will be used to store retrieved and user input data  139  in  FIG. 4 . A relational database will be used to support multiple database matching and field correlation. The relational database can be used to search mapping information such as a satellite mapping system  507  in  FIG. 13  by passing the property address to such a system  507  in  FIG. 13 . In general, any data retrieval system can be used such as the Internet, Intranet or internal/external data retrieval system.  
         [0063]     A workspace is used to display several search “environments” at one time. Each search environment can search for an address or owner name  303  in  FIG. 9 . Given the first few characters of the owner&#39;s last name or address the system will present the user with matched results to choose from. The user will then select the appropriate address or last name based on the partial matches. The matches are presented by searching public data on the Internet or other data repository  350  in  FIG. 10 .  
         [0064]     The system search results will present further information found on the property/person of interest  351 ,  352 ,  353 ,  354 , and  355  in  FIG. 10 . This additional data will be used to better pinpoint the target. Data included in the search results will be property description  355 , which may contain sub-division information, lot number, City  354 , complete address  353  and tax account number  351 . After the target property/person has been chosen, the system allows comparatives to be retrieved via an “Import”  356  or “Import with Sales”  357  function that either retrieves the further information for the target property or retrieves further information for the target property and other properties in the neighborhood of the target property or a similar neighborhood elsewhere.  220  in  FIG. 7  and  260  in  FIG. 8  show some of the information that can be retrieved by the system. Information that is to be retrieved and/or used for calculations include  261  in  FIG. 8  property location information,  262  MLS target property listing information,  263  last sale information,  264  previous sale information one sale back,  265  previous sale information  2  sales back,  266  previous sale information  3  sales back,  267  MLS comparable property information,  268  property information as to number of rooms, garage size, baths and bedrooms,  269  appraisal information,  270  property picture and/or diagram and other miscellaneous information,  271  schooling information,  272  Employment index, property built year and Housing Price Index (HPI).  
         [0065]     In the case where a single target property is selected, the system can be used to retrieve other information at the direction of the user. In this manner the system is capable of comparing and generating reports based on custom properties for many different areas rather than the system automated “Import with Sales”  357  in  FIG. 10  function.  
         [0066]     A workspace report view  400  in  FIG. 11  will display full address results  401  including but not limited to tax value  405 , last sale price  301  in  FIG. 9 , last sale date  302  in  FIG. 9 , size  403 , sub-division  402 , builder  423 , style  419 , land size  404 , additions made to property after initial sale data and any remodeling done  419  in  FIG. 11 .  
         [0067]     The invention further examines the data based on accumulated information (database) and any comparable information found on the Internet and/or information presented by the user. The results are expected selling price  406  in  FIG. 11  based on current information and growth projects and return on investment calculations. Additionally, next year&#39;s tax payments  415  will be calculated based on public data as well as mortgage information based on user input  408 ,  409 ,  410 ,  411 ,  412 ,  413 ,  414 , and  418 .  
         [0068]     A workspace report graph  450  in  FIG. 12  can be generated based on either a single comparable property or the average of several comparable data. Different colors will be used to display the target property vs. average or minimum/maximum comparable data  451 ,  452  and  453  in  FIG. 12 .  
         [0069]     The HTTP communications driver  136  in  FIG. 4  further provides a function to send and receive messages and advertisements  560  in  FIG. 14 , which may or may not be based on the current search or data being analyzed. In the preferred embodiment the HTTP driver  136  can connect to an Internet server  560  and download a message or advertisement as data and/or pictures returned by the server. In the preferred embodiment this is done by sending a POST message  562  to the Internet  556  with current search  551  and/or data  552  variables as parameters. The server  560  will then process these parameters and return up-to-date data that is real-time matched to the current search or data  555  in  FIG. 14 . The message and or advertisement display  553  in  FIG. 14  can change based on which “View” the user is currently working with. In this manner if the user is running a report, a message or advertisement specific to that function is seen. Similarly, the search “View” will cause the message and/or advertisement to present data specific to the search  551  in  FIG. 14 .  
         [0070]      600  in  FIG. 15  depicts the two (2) preferred ways  602  and  601  to connect this invention to real estate professional&#39;s electronic systems such as MLS systems and accounting systems  603  in  FIG. 15 .  
         [0071]     Both the Evaluation Calculation Engine  140  in  FIG. 4  and the Database (Data Store)  139  in  FIG. 4  are used to connect to an external system  603  in  FIG. 15  such as MLS systems. Software will be used to interface the two systems by receiving or reading data from one system and passing the data to the other system. Bi-directional data passing is achieved by using this method.  
         [0072]     A data record is read from the invention Data Store  139  which is then parsed and re-formatted to the format accepted by the external systems  603 . Similarly, the external system  603  can pass data in its native format to a software module that will re-format the data to a format this invention recognizes.  
         [0073]      700  in  FIG. 16  extends  550  in  FIG. 14  to allow users to receive  702  real time or delayed investment information to their cell phones, PDAs or other communication devices  701  and  703 . Both text and voice messages can be sent to a communication device  701  and  703  either via a communications server  560  in  FIG. 14  or through the Internet  556  in  FIG. 14 . Voice over IP (VOIP) and text messaging technologies are used to provide this communication service. Graphical data can be sent to cell phones  701  or other similar device with maps to aid in getting to the parcel location(s) and satellite imagery and/or pictures of the parcel land, buildings and homes.  
         [0074]     While the present invention is disclosed in a preferred context, it will be recognized that the teachings of the present invention may be variously embodied consistent with the disclosure claims. By way of example, the present invention is disclosed in connection with an Internet connection using certain set of information to estimate certain valuations for real estate investment. It will be recognized that the present teachings may be adapted to user other information and to other present and future network or communication technologies to which they may be beneficial.