Greenfield Advisors Receives Patent for AVM Process

SEATTLE, Washington and CARTERSVILLE, Georgia – Greenfield Advisors is excited to announce that its two principals have been issued their first patent by the United States Patent and Trademark Office (USPTO).  The patent, U.S. Patent 9,582,819, is entitled “Automated-valuation-model training-data optimization systems and methods.”  The inventors are former Greenfield […]

Day One of the IPTI Mass Appraisal Valuation Symposium

 

Amsterdam… what an awful place to have a conference! I’m kidding of course. This is my third trip to Amsterdam, and the city looks pretty much as it did the last time I was here (14 years ago when I was on my way to a regional science conference at […]

AVMs 101 – What is an AVM and how do we use them?

An automated valuation model or AVM is a computer program that uses statistical models coupled with a database to estimate the market value of a property as of a specific date. The accuracy of an AVM depends on the data used and the skill of the modeler who produced […]

Posts from Japan, Part 3 – Availability of AVMs and Residential Real Estate Data in Japan

A colleague of mine, Yuko Tomizuka, arranged for me to present Greenfield’s research on and development of an automated valuation model (AVM) in Tokyo. She is an MAI (a designated member of the Appraisal Institute)[1] real estate appraiser and the former head of property valuation and finance at WestImmo Bank, […]

An Iterative Approach to Minimizing Valuation Errors Using an Automated Comparable Sales Model

This paper describes a method for automating sales comparison valuations by choosing a small sample of comparable sales from a submarket of similar properties and adjusting their prices based on differences between sale and subject property characteristics. This logic is similar to that used in a traditional sales comparison […]