Journal: IPSI Transactions on Internet Research


Spatiotemporal Model of Real Estate Valuation Trend

Authors: Rishe, Naphtali Tamir, Dan and Adjouadi, Malek


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Abstract

Presented here is a model objectivizing real estate prices so that prices across time could be compared to understand historical price trends and also to assist in a property evaluation or appraisal, as well as for the analysis of comparables in estimating a reasonable offer for a property on the market. Given a timespan of interest, a locale (e.g., a particular zipcode, a city, a county, a state), a category of properties of interest (e.g., condos), an objective historical trend in values can be computed by first evaluating the ratios between the transactions’ realized prices and objective governmental assessment of the properties at some fixed point of time; then, for each period (a month) averaging the ratios of all transaction in that period; then, comparing said averages (or medians) between different periods.


Keywords

Automatic Valuation Model, Geospatial Data Trend Analysis, House Price Trend Analysis, Real Estate, Spatiotemporal Extrapolation, Spatiotemporal Interpolation, Spatiotemporal Summarization


Published in: IPSI Transaction on Internet Research (Volume: 19, Issue: 2)
Publisher: IPSI, Belgrade

Date of Publication: July 1, 2023

Open Access: CC-BY-NC-ND
DOI: 10.58245/ipsi.tir.2302.05

Pages: 31 - 45

ISSN: 1820 - 4503



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Rishe, Naphtali

School of Computing and Information Sciences, Florida Internation University, USA.
E-mail: rishen@cs.fiu.edu; Orcid ID: 0000-0002-1611-4067

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Tamir, Dan

Texas State University, San Marcos, Texas, USA
e-mail: dt19@txstate.edu

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Adjouadi, Malek

Department Electrical and Computer Engineering, Florida Internation University, USA.
e-mail: adjouadi@fiu.edu

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Cite this article

Rishe, Naphtali; Tamir, Dan; and Adjouadi, Malek "Spatiotemporal Model of Real Estate Valuation Trend", IPSI Transactions on Internet Research, vol. 19(2), pp. 31-45, 2023. https://doi.org/10.58245/ipsi.tir.2302.05