Abstract: A database of property data is searched based on a location constraint that is determined based on travel time contours constructed for multiple locations of interest. The locations of interest and travel parameters associated therewith are selected by a user. The travel parameters include a maximum travel time for each location. For each location, the travel time contour is constructed based on the travel parameters for the location such that points within the travel time contour have a travel time to the location that is less than or equal to the maximum travel time. The travel time contours are intersected, and the location constraint is based on the intersection.

Abstract: Modeling appropriate comparable properties for the assessment of appraisals entails accessing a property dataset, wherein subsets of properties represented in the property data are determined to be members of respective condominium projects. Condominium project identification information is scrubbed, standardized and updated using various techniques. An automated valuation model is applied to the property data, preferably implementing the condominium project variable as a location fixed effect variable. Appraisal reports where the subject property is a condominium are then analyzed using the results of the automated valuation model, including but not limited to ranking and displaying the appraiser-chosen comparables among the model-chosen comparables.

Abstract: An automated valuation model that uses condition and quality variables. In response to user queries, the model ranks and displays comparables for a subject property. The comparables are selected based on their similarity to the subject. Data on quality and condition of properties is incorporated into the model and corresponding comparable assessments. For example, the quality and condition inputs may be used in a hedonic adjustment factor model, comparable selection exclusion rules, economic distance calculations, and adjustments for differences between the subject and comparables at comparable selection stage. The comparables may be displayed in ranked order based on the calculated similarities between the properties, with indications of the quality and condition categories, to provide an overall assessment of the comparables as well as displayable indications of the underlying quality and condition categories and related information.

Abstract: A database of property data is searched based on a location constraint that is determined based on travel time contours constructed for multiple locations of interest. The locations of interest and travel parameters associated therewith are selected by a user. The travel parameters include a maximum travel time for each location. For each location, the travel time contour is constructed based on the travel parameters for the location such that points within the travel time contour have a travel time to the location that is less than or equal to the maximum travel time. The travel time contours are intersected, and the location constraint is based on the intersection.

Abstract: Continuous property-level location effects may be determined by generating property-level location effect functions that map location coordinates to property-level location effect values. Each property-level location effect function corresponds to a sub-region of a larger region, the larger region being a region to which a hedonic equation of an automated valuation model corresponds. Each of the property-level location effect functions may be generated by fitting a set of data points that correspond to the sub-region for which the function is being generated. The set of data point to which a given function is fitted are based on the differences between model-estimated values and actual values (e.g., sales prices) for each of the properties located in the corresponding sub-region and in at least one adjoining sub-region. The property-level location effects functions are continuous and vary within their respective sub-region according to property-level changes in location effect.

Abstract: A method and system for computing an amenity score for any arbitrary point in a given geographic area. The amenity score may take into account a variety of amenity types and an optional list of user-prioritized amenity types, to compute a score that measures the overall amenity availability for that location. The amenity score may be determined by identifying amenities, assigning a unit function to each identified amenity, summing unit functions to obtain an integrated function for each amenity type, and combining the integrated functions into an amenity score function.

Abstract: Modeling appropriate comparable properties for the assessment of appraisals entails accessing a property dataset, wherein subsets of properties represented in the property data are determined to be members of respective condominium projects. Condominium project identification information is scrubbed, standardized and updated using various techniques. An automated valuation model is applied to the property data, preferably implementing the condominium project variable as a location fixed effect variable. Appraisal reports where the subject property is a condominium are then analyzed using the results of the automated valuation model, including but not limited to ranking and displaying the appraiser-chosen comparables among the model-chosen comparables.

Abstract: A comparable property selection system and method employs dynamic gating in the selection of comparable properties. When the most restrictive comparable selection algorithm fails to identify enough comparable sales to use as inputs to the downstream analytics processes, the system does not simply expand the pool or solely expand the corresponding geographical area. Instead, the system automatically loosens and tightens property search filters iteratively to expand and shrink the size of a local geographic and economic market to locate comparables that have property characteristics that most closely reflect the real estate market considerations a buyer, or an appraiser acting as a buyer, would evaluate in a heterogeneous market.

Abstract: A device including a memory with an automated collateral fraud and risk detection application installed thereon, wherein the application determines whether a final appraised value of an appraisal was correctly reconciled from comparable properties listed on the appraisal by extracting reconciliation information from the appraisal, the reconciliation information including adjusted sale prices for each comparable property listed on the appraisal and the final appraised value; applying a rule set to the reconciliation information to generate sub-scores; applying a heuristic to the sub-scores to generate a reconciliation score; and outputting a scorecard for the appraisal based on the reconciliation score.

Abstract: An automated valuation model that uses condition and quality variables. In response to user queries, the model ranks and displays comparables for a subject property. The comparables are selected based on their similarity to the subject. Data on quality and condition of properties is incorporated into the model and corresponding comparable assessments. For example, the quality and condition inputs may be used in a hedonic adjustment factor model, comparable selection exclusion rules, economic distance calculations, and adjustments for differences between the subject and comparables at comparable selection stage. The comparables may be displayed in ranked order based on the calculated similarities between the properties, with indications of the quality and condition categories, to provide an overall assessment of the comparables as well as displayable indications of the underlying quality and condition categories and related information.

Abstract: A valuation model accounts for traffic features associated with modeled properties, generates listings of model-chosen comparables, and evaluates property appraisals and appraisal-chosen comparables accordingly. In one embodiment, traffic features of homes are used in automated electronic appraising and in the electronic review of appraisals. It first uses GIS techniques to convert traffic features associated with a property into a numeric variable, allowing hedonic price models to measure the price impact of traffic features. This allows traffic features to be used in the automated selection of comparable properties and in the adjusting of comp prices in appraisals. It also allows automated review of appraisals to determine if they fairly accounted for the traffic dimension in the selection of comps and in making any price adjustments.