US5636117A
Expired / Lapsed
US
⏱️ 0.0 years remaining
Method and apparatus for monitoring the strength of a real estate market or commodity market and making lending and insurance decisions therefrom
Assignee: Individual
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Filing: 1994-05-31
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Granted: 1997-06-03
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Expires: 2014-05-31
Abstract
Abstract By gathering information regarding the total number of sales, total number of pending listings, total number of active listings, and total number of expired listings in a time period, a market index may be derived. This market index can then be charted over a plurality of periods, giving an indication of any temporal trends. The market index can further be used to guide and determine the action of a service provider such as a lender or title insurance company in a proposed real estate transaction.
Inventors
- 👤 Robert E. Rothstein
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-11-09 17:57
CPC Classifications
G; G06; G06Q; G06Q30/00; G06Q30/02; G06Q30/0201; G06Q30/0202; G06Q40/00; G06Q40/02; G06Q40/03; G06Q40/08
Claims Analysis
Total Claims: 13
Claim 1
Independent Claim
188 words
A method for extending real estate services to a party comprising the steps of: (a) using computing means having a central processing unit to gather from a first data source a total number of closed sales, S c , in a real estate market in said period; (b) using said computing means to gather from a second data source a total number of sales which are pending, S p , in said market in said period; (c) using said computing means to gather from a third data source a total number of expired listings, L e , in said market in said period; (d) using said computing means to gather from a fourth data source a total number of active listings L a , in said market in said period; (e) determining a market index, M i , indicative of the strength of said market over a period consisting of a length of days, P d , in accordance with ##EQU6## and (f) extending, terminating or repositioning said real estate service to said party if said market index is above or within a predetermined threshold of market activity.
Claim 2
Independent Claim
188 words
A method for extending real estate services to a party comprising the steps of: (a) using computing means having a central processing unit to gather from a first data source a total number of closed sales, S c , in a real estate market in said period; (b) using said computing means to gather from a second data source a total number of sales which are pending, S p , in said market in said period; (c) using said computing means to gather from a third data source a total number of expired listings, L e , in said market in said period; (d) using said computing means to gather from a fourth data source a total number of active listings L a , in said market in said period; (e) determining a market index, M i , indicative of the strength of said market over a period consisting of a length of days, P d , in accordance with ##EQU6## and (f) extending, terminating or repositioning said real estate service to said party if said market index is above or within a predetermined threshold of market activity.
Claim 3
Dependent Claim
59 words
The method of claim 1, including the step of repeating steps (a) through (e) for a plurality of said periods, and graphically representing in temporal sequence the plurality of market indices, M i , of said plurality of periods and extending said real estate service if said market indices remain above said predetermined threshold over a predetermined time period.
Claim 4
Dependent Claim
17 words
The method of claim 2, wherein all of said data sources are a multi-listing service (MLS) database.
Claim 5
Dependent Claim
25 words
The method of claim 1, wherein said real estate service is the extension of credit or directly or indirectly insures the performance of the borrower.
Claim 6
Dependent Claim
16 words
The method of claim 1, wherein said real estate service is the extension of title insurance.
Claim 7
Dependent Claim
42 words
The method of claim 1, further comprising the step of dividing said market index, M i , by the average number of days, A m , required to sell the properties included within the tabulation of S c and S p .
Claim 8
Dependent Claim
63 words
The method of claim 1, further comprising the step of multiplying said market index, M i , by the ratio of the average selling price of the properties included within the tabulation of S c and S p in said period and the average selling price of the properties included within the tabulation of S c and S p in the preceding period.
Claim 9
Independent Claim
234 words
A method for extending real estate services to a party comprising the steps of: (a) using computing means having a central processing unit to gather from a database: the total number of closed sales in said period, S c ; the number of sales pending in said period, S p ; the number of listings which have expired in said period, L e ; and, the number of properties actively listed, L a , at the end of said period; (b) calculating a total number of listed properties in said market, T, in accordance with the equation: T 1 =S c +S p +L e ; (c) determining the total number of successfully marketed properties, T s in accordance with the equation: T s =S c +S p ; (d) determining a demand index, D, as being T s divided by T 1 ; (e) calculating a rate of absorption, R a , as being T s divided by a length of days, P d to be monitored; (f) calculating a supply level, S i , as a ratio of L a divided by R a ; (g) calculating a market index indicative of the strength of a real estate market over P d , as the ratio of D divided by S 1 ; and (h) extending said real estate service to said party if said market index is above a predetermined threshold.
Claim 10
Independent Claim
234 words
A method for extending real estate services to a party comprising the steps of: (a) using computing means having a central processing unit to gather from a database: the total number of closed sales in said period, S c ; the number of sales pending in said period, S p ; the number of listings which have expired in said period, L e ; and, the number of properties actively listed, L a , at the end of said period; (b) calculating a total number of listed properties in said market, T, in accordance with the equation: T 1 =S c +S p +L e ; (c) determining the total number of successfully marketed properties, T s in accordance with the equation: T s =S c +S p ; (d) determining a demand index, D, as being T s divided by T 1 ; (e) calculating a rate of absorption, R a , as being T s divided by a length of days, P d to be monitored; (f) calculating a supply level, S i , as a ratio of L a divided by R a ; (g) calculating a market index indicative of the strength of a real estate market over P d , as the ratio of D divided by S 1 ; and (h) extending said real estate service to said party if said market index is above a predetermined threshold.
Claim 11
Dependent Claim
59 words
The method of claim 8, including the step of repeating steps (a) through (g) for a plurality of said periods, and graphically representing in temporal sequence the plurality of market indices, M i , of said plurality of periods and extending said real estate service if said market indices remain above said predetermined threshold over a predetermined time period.
Claim 12
Dependent Claim
15 words
The method of claim 8, wherein said real estate service is the extension of credit.
Claim 13
Dependent Claim
18 words
The method of claim 8, wherein said real estate service is the extension of mortgage or title insurance.
References Cited (Backward Citations)
No citation records indexed.
USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 2000-06-02 | 2000-12-02 | 2001-06-03 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 2004-06-02 | 2004-12-02 | 2005-06-03 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2008-06-02 | 2008-12-02 | 2009-06-03 | $7700.00 | Window Closed / Lapsed |