Automated Valuation Model Graphical History Display
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Solution Overview
Problem
Automated valuation models (AVMs) lack the ability to effectively display and analyze the historical valuation data of subject and comparable properties, limiting their ability to provide a comprehensive assessment.
Innovation Solution
An automated valuation model that graphically displays the valuation history of a subject property over an adjustable time range, allowing for selective plotting of appraiser-selected comparable properties' valuation histories, scaled on a pro-rata basis, along with model-generated comparables, and incorporating historical HPI for the geographic region, using dynamic charts and user-adjustable interfaces.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If AVM presents valuation data for current time only, then the data presentation is simple and straightforward, but the ability to appreciate and review valuation history is lost
Solution Approach 1:
The patent transforms one-dimensional current valuation data into two-dimensional historical valuation trends by adding the time dimension. The graphical interface displays valuation data across multiple time points, allowing users to view property value evolution, market conditions, and comparable property performance over time, thereby recovering lost historical information without excessive complexity
Solution Approach 2:
The system creates visual copies of valuation data in graphical form (charts, graphs, and visual representations) that preserve historical information while presenting it in an accessible format. These graphical copies enable users to review valuation history, identify trends, and make informed decisions without dealing with raw numerical data complexity
2Reliability
If the graph plots multiple properties' valuation histories, then the assessment comprehensiveness is improved, but the graph complexity and difficulty of interpretation increases
Solution Approach 1:
The patent segments the complex multi-property valuation data into distinct visual components, allowing users to analyze individual property trajectories while maintaining context of other properties. The graphical interface enables selective focus on specific properties or time periods, breaking down the complexity of comparing multiple properties into manageable visual segments
Solution Approach 2:
The system uses color coding and visual differentiation to distinguish between multiple properties, comparable properties, and different valuation metrics on the same graph. Color changes and visual markers enable users to quickly identify and track specific properties among multiple plotted lines, reducing interpretation difficulty while maintaining comprehensive assessment capability
Data Source
AI summary
An automated valuation model and corresponding analysis tool that graphically displays value history information in association with a subject property is disclosed. In one example, the tool generates a graph plotting the valuation history of a subject property over an adjustable time range in relation to a general price index for a pertinent geographical area. When looking at an appraisal for a property, the graph also supports selective plotting of appraiser-selected comparable properties' valuation histories against that of the subject property. The valuation history for comparable properties can be scaled on a pro-rata basis according to the percentage of the adjustments made within the appraisal. In addition, the graph selectively incorporates model-generated comparables and their valuation histories.