Automatically determining a current value for a home

摘要

A facility for valuing a distinguished home located in a distinguished geographic area is described. The facility receives home attributes for the distinguished home. For each of a plurality of valuation sub-models, the facility applies the valuation sub-model to the received home attributes to obtain a sub-model valuation for the distinguished home. The facility further applies a meta-model to the record home attributes to obtain a relative weighting factor for each sub-model. The facility then uses the obtained relative weighting factors to combine the sub-model valuations to obtain an overall valuation for the distinguished home. The facility reports the obtained valuation for the distinguished home.

主权项

1. A method in a computing system having a processor and a memory for valuing homes in a distinguished geographic area, comprising:
obtaining a plurality of records each documenting a sale transaction for a home in the distinguished geographic area,wherein the obtained records each include information identifying a sold home and a buyer name field;
storing the obtained plurality of records in the memory; for each of the obtained records, with the processor, evaluating at least one test against the contents of the record,wherein the tests evaluated for each of the obtained records include a test that the buyer name field does not include a comma;
for each of the stored obtained plurality of records for which the evaluated tests evaluate as true, retrieving from the memory home attributes for the sold home identified by the record; with the processor, using contents of only obtained records for which the evaluated tests evaluate as true, together with home attributes retrieved for the corresponding homes, constructing in the memory a model that determines a property value for any home in the distinguished geographic area based upon its attributes; receiving home attributes for a subject home in the distinguished geographic area; storing the received home attributes of the subject home in the memory; and with the processor, applying the constructed model to the home attributes of the subject home stored in the memory to determine a valuation for the subject home.