a patent for a method and system of optimized real estate appraisal
PRESS RELEASE
/EINPresswire.com/ Jerusalem, June 12, 2012 — The US Patent Office and Trade Office has awarded Makor co. a patent for a method and system of optimized real estate appraisal (Num. 8,195,473 June 5, 2012). The new method and system obtains optimal range of values for real estate property by using together all admissible appraisal approaches instead of using them separately.
The method will give judges and arbitrators a tool to choose between different opinions what are the most reasonable value of the property in subject. The method is particularly suitable to be used in eminent domain and other litigation process. Makor Co. expects that the method should become the new standard in appraisal since it brings scientific approach to the real estate field.
The system utilizes all three appraisal approaches currently available: Sales Comparison Approach, Residual Approach and Income Approach and reconcile the optimal range of appraisal values for each of the different types of appraisal approaches.
The system uses ranges of influence factors rather than their single-point values. The disclosed optimization method and system is based on all plausible ranges of influenced factors of all approaches used together instead of each particular appraisal approach used separately. Therefore, crucial dependence of property value on single erroneously selected values of influenced factors is greatly reduced.
The new invention evaluates the reliability of factor ranges specific to each appraisal approach and eliminates discrepant ranges.
Using this invention it is possible to obtain an accurate property valuation. Feasibility Study, Sensitivity Analysis, value reconciliation and highest and best use are obtained optimally and automatically. The invention optimizes capitalization rate and period in the relevant approaches.
More information:
David Myr, CEO
Makor Issues and Rights Ltd.
17 Balfour St., Jerusalem, Israel 92102
tel: 972 2 673 4913, fax: 972 2 673 4859
web: www.optimization.co.il
email: makor@optimization.co.il
/EINPresswire.com/ Jerusalem, June 12, 2012 — The US Patent Office and Trade Office has awarded Makor co. a patent for a method and system of optimized real estate appraisal (Num. 8,195,473 June 5, 2012). The new method and system obtains optimal range of values for real estate property by using together all admissible appraisal approaches instead of using them separately.
The method will give judges and arbitrators a tool to choose between different opinions what are the most reasonable value of the property in subject. The method is particularly suitable to be used in eminent domain and other litigation process. Makor Co. expects that the method should become the new standard in appraisal since it brings scientific approach to the real estate field.
The system utilizes all three appraisal approaches currently available: Sales Comparison Approach, Residual Approach and Income Approach and reconcile the optimal range of appraisal values for each of the different types of appraisal approaches.
The system uses ranges of influence factors rather than their single-point values. The disclosed optimization method and system is based on all plausible ranges of influenced factors of all approaches used together instead of each particular appraisal approach used separately. Therefore, crucial dependence of property value on single erroneously selected values of influenced factors is greatly reduced.
The new invention evaluates the reliability of factor ranges specific to each appraisal approach and eliminates discrepant ranges.
Using this invention it is possible to obtain an accurate property valuation. Feasibility Study, Sensitivity Analysis, value reconciliation and highest and best use are obtained optimally and automatically. The invention optimizes capitalization rate and period in the relevant approaches.
More information:
David Myr, CEO
Makor Issues and Rights Ltd.
17 Balfour St., Jerusalem, Israel 92102
tel: 972 2 673 4913, fax: 972 2 673 4859
web: www.optimization.co.il
email: makor@optimization.co.il
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