Patent ID: 8655106

Claim:
A method for property valuation, the method comprising: prompting display of a map image corresponding to a geographical area; receiving an identification of a defined geographic area within the geographical area, the defined geographic area being defined through received user input associated with display of the map image; accessing property data corresponding to properties within the defined geographic area; applying an automated valuation to the property data after receiving the identification of the defined geographic area; displaying information for at least one property in the defined geographic area based upon results of applying the automated valuation; receiving an identification of a subject property; ranking comparable properties in the defined geographic area based upon the results of the automated valuation; and displaying indicators on the map image indicative of the subject property and at least one of the comparable properties, wherein applying the automated valuation comprises: performing a regression based upon the property data, the regression modeling the relationship between price and explanatory variables; identifying candidate comparable properties within the defined geographic area; determining a set of value adjustments for the candidate comparable properties based upon differences in the explanatory variables between a subject property and the candidate comparable properties; and determining an economic distance between the subject property and respective ones of the candidate comparable properties, the economic distance constituted as a quantified value determined from the set of value adjustments for each respective comparable property, wherein the ranking of comparable properties is determined based upon a weighting of the candidate comparable properties based upon the economic distance from the subject property.