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`US 20040073508A1
`
`(19i United StateS
`(12) Patent Application Publication
`Foster et al.
`
`(10) Pub. No. : US 2004/0073508 A1
`Apr. 15, 2004
`(43) Pllb. Date:
`
`(54) METHOD AND SYSTEM FOR PROPERTY
`IN AN ON-LINE COMPUTING
`VALUATION
`ENVIRONMENT
`
`(76)
`
`Inventors: Paul Foster, New York, NY(US);
`Robert Rieger, Trumbull, CT (US);
`David Shea, New Canaan, CT (US)
`
`Correspondence Address:
`KING R SPALDING
`191 PEACHTREE STREET, N. E.
`ATLANTA, GA 30303-1763 (US)
`
`(21) Appl. No. :
`
`09/766, 779
`
`(22) Filed:
`
`Jan. 22, 2001
`
`Related U. S. Application Data
`
`(60) Provisional application No. 60/249, 985, filed on Nov.
`20, 2000.
`
`Publication Classification
`
`(51) Int. Cl.
`(52) U. S. Cl.
`
`G06F 17/60
`705/38
`
`(57)
`
`ABSTRACT
`
`relates to providing on-line tools for
`The present
`invention
`on-line calculations. A distributed computer
`property-related
`network can enable a user to access multiple databases and
`to obtain comparables data related to a property of interest
`for use in calculations. A user can access the latest, broadest
`set of relevant property data and to select relevant compa-
`rable values quickly and with minimal manual
`intervention.
`An on-line property management
`environment can comprise
`a distributed computer network coupled to numerous client
`computers, a property services server platform connected to
`information data-
`a local data base, and numerous property
`bases. A valuation
`calculator, refi-
`tool, lease improvement
`nancing calculator, capitalization
`rate calculator, mortgage
`calculator
`calculator, and an atfordability
`and amortization
`on-line
`can enable a user to make multiple property-related
`calculations.
`
`301
`
`START
`
`30
`
`NTER PROPERTY DETAILS
`
`31
`
`SEARCH, RETURN &/OR ENTER
`COMPARABLES DATA
`
`31
`
`ENTER CAPITAL EXPENSES
`
`32
`
`ENTER MORTGAGE DETAILS
`
`32
`
`ENTER INVESTMENT DETAILS
`
`33
`
`CALCULATE RESULTS AND CREATE
`REPORTS
`
`39
`
`END
`
`TRULIA - EXHIBIT 1013
`
`

`

`Patent Application Publication Apr. 15, 2004 Sheet 1 of 55
`
`US 2004/0073508 A1
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`Patent Application Publication Apr. 15, 2004 Sheet 2 of 55
`
`US 2004/0073508 A1
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`Patent Application Publication Apr. 15, 2004 Sheet 3 of 55
`
`US 2004/0073508 A1
`
`FIG. 3
`
`301
`
`START
`
`30
`
`NTER PROPERTY DETAILS
`
`31
`
`SEARCH, RETURN 8/OR ENTER
`COMPARAB LES DATA
`
`31
`
`ENTER CAPITAL EXPENSES
`
`32
`
`ENTER MORTGAGE DETAILS
`
`32
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`ENTER INVESTMENT DETAILS
`
`CALCULATE RESULTS AND CREATE
`REPORTS
`
`39
`
`END
`
`

`

`Patent Application Publication Apr. 15, 2004 Sheet 4 of 55
`
`US 2004/0073508 A1
`
`START
`
`40
`
`ENTER LEASEHOLD
`IMPROVEMENT ASSUMPTIONS
`
`CALCULATE PAYBACK AND
`BREAK-EVEN RESULTS
`
`49
`
`END
`
`

`

`Patent Application Publication Apr. 15, 2004 Sheet 5 of 55
`
`US 2004/0073508 A1
`
`FIG. 5
`
`50
`
`START
`
`50
`
`ENTER CU. RRENT LOAN
`DETAILS
`
`ENTER NEW LOAN DETAILS
`
`51
`
`CALCULATE SAVINGS AND
`BREAK-EVEN RESULTS
`
`59
`
`END
`
`

`

`Patent Application Publication Apr. 15, 2004 Sheet 6 of 55
`
`US 2004/0073508 A1
`
`FIG. 6
`
`START
`
`60
`
`SELECT OUTPUT REQUIRED:
`PROPERTY VALUE OR CAP RATE
`
`ENTER ASSUMPTIONS
`
`61
`
`CALCULATE PROPERTY VALUE OR
`CAP RATE
`
`END
`
`

`

`Patent Application Publication Apr. 15, 2004 Sheet 7 of 55
`
`US 2004/0073508 A1
`
`FIG. 7
`
`70
`
`START
`
`70
`
`SELECT OUTPUT REQUIRED:
`PAYMENT/AMOUNT/RATE/TERM
`
`7't
`
`ENTER ASSUMPTIONS
`
`71
`
`CALCULATE OUTPUT REQUIRED
`
`END
`
`

`

`Patent Application Publication Apr. 15, 2004 Sheet 8 of 55
`
`US 2004/0073508 A1
`
`80
`
`START
`
`80
`
`ENTER ASSUMPTIONS
`
`CALCULATE LOAN AMOUNT
`
`END
`
`

`

`Patent Application Publication Apr. 15, 2004 Sheet 9 of 55
`
`US 2004/0073508 A1
`
`FIG. 9
`
`90
`
`START
`
`90
`
`ENTER ASSUMPTIONS
`
`91
`
`CALCULATE CURRENT AND
`FUTURE SQFT NEEDS
`
`END
`
`

`

`Patent Application Publication Apr. 15, 2004 Sheet 10 of 55
`
`US 2004/0073508 A1
`
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`Patent Application Publication Apr. 15, 2004 Sheet 11 of 55
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`US 2004i0073508 A1
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`Patent Application Publication Apr. 15, 2004 Sheet 12 of 55
`
`US 2004/0073508 A1
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`

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`Patent Application Publication Apr. 15, 2004 Sheet 13 of 55
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`US 2004/0073508 A1
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`

`Patent Application Publication Apr. 15, 2004 Sheet 14 of 55
`
`US 2004/0073508 A1
`
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`

`Patent Application Publication Apr. 15, 2004 Sheet 15 of 55
`
`US 2004/0073508 A1
`
`FIG. 15a
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`

`Patent Application Publication Apr. 15, 2004 Sheet 16 of 55
`
`US 2004/0073508 A1
`
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`Patent Application Publication Apr. 15, 2004 Sheet 17 of 55
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`US 2004/0073508 A1
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`Patent Application Publication Apr. 15, 2004 Sheet 18 of 55
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`US 2004/0073508 A1
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`Patent Application Publication Apr. 15, 2004 Sheet 19 of 55
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`US 2004/0073508 A1
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`Patent Application Publication Apr. 15, 2004 Sheet 20 of 55
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`US 2004/0073508 A1
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`Patent Application Publication Apr. 15, 2004 Sheet 21 of 55
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`US 2004/0073508 A1
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`Patent Application Publication Apr. 15, 2004 Sheet 22 of 55
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`US 2004/0073508 A1
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`Patent Application Publication Apr. 15, 2004 Sheet 23 of 55
`
`US 2004/0073508 A1
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`

`Patent Application Publication Apr. 15, 2004 Sheet 24 of 55
`
`US 2004/0073508 A1
`
`FIG. 16a
`
`16a00
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`The Leasehold
`lmprinement Payback Calculator calculates
`improve ments to a property Start by filhng
`in the informa$on
`click on the "explanabon" tab above.
`
`the payback and breakeven points $0vhenyou make capital
`below, then click "calculate". Ifyou have questions about this tool,
`
`leasehold
`
`improvement payback calculator
`
`Whet is the square footage for this lease?
`
`10, 000 SF
`
`% -~AKR'-
`
`'
`
`'-:
`
`4~+0-
`
`16a05
`16a10
`16a15
`16a20
`16a25
`16a30
`16a35
`
`Whet re tne average annual base rental rate?
`
`Whsl is the lease term?
`
`Whsl is the building standard
`improvemerts
`smburf per square feet?
`What m the snnusi interest rate tor Snsncing
`the buiidkng Standard
`improvements?
`
`Are there shove standard
`
`improvements'?
`
`Whsl is the above standard
`amount per square foot'?
`improvements
`is the snnusi interest rate for ensncing
`the shove standard
`improvements?
`
`the tenant for above standard
`
`improvements?
`
`1 6a40 — whrii
`1 6a45 — What is the snnusi nterest rate you are charging
`
`10 Years [
`$10. 00
`
`0 Months
`
`t0 Yee t NO
`
`$15. 00
`
`g~@~~~=-;, Ga50
`
`Cost of
`Improvements
`
`Financing Cost
`
`incometramLeese
`
`PV of Income from
`Lesse
`
`Standard
`
`improvements
`
`Lease Term
`
`$10, 000, 000. 00
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`$100, 000. 00
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`$58, 580. 86
`$c, 841, 419. 12
`
`Above Standard
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`$199, 836. 90
`$1. 50
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`Annual
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`
`Total
`
`Lease Term
`
`$10, 199, 836. 90
`
`$250, 000. 00
`
`$0. 59
`$98. 41
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`$40, 917. 93
`$8, 918. 98
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`$0. 41
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`$0. 89 $9, 850338AI9
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`Annual
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`$2. 50
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`$0. 99
`$9880
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`$6, 205, 930. 28
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`$62. 06
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`$7, 007. 44
`
`$0. 07 $6, 212, 937. 72
`
`$62. 13
`
`clear
`
`calculate
`
`

`

`Patent Application Publication Apr. 15, 2004 Sheet 25 of 55
`
`US 2004/0073508 A1
`
`FlG. 16b
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`Patent Application Publication Apr. 15, 2004 Sheet 26 of 55
`
`US 2004/0073508 A1
`
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`Patent Application Publication Apr. 15, 2004 Sheet 27 of 55
`
`US 2004/0073508 A1
`
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`

`

`Patent Application Publication Apr. 15, 2004 Sheet 28 of 55
`
`US 2004/0073508 A1
`
`FIG. 17b
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`

`

`Patent Application Publication Apr. 15, 2004 Sheet 29 of 55
`
`US 2004/0073508 A1
`
`FlG. 17c
`
`J ~ - ~ - @ 2 2 JO R 15- 8 E)'-
`
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`
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`=g. Here are the results of your Refinance 7 Breakeven calculation To see the results
`— on the "graph" tati.
`
`in a graphic format, click
`
`Compare
`
`Loan smounc
`
`Total Payment
`Points snd Fees
`Uhtlnsncsd
`
`Total Savings'
`
`Rate.
`
`Term:
`
`Payment
`
`r:c
`
`17c0
`
`17c1
`
`regnance
`
`ii breakeven calculator
`
`Based on the loan term:
`Current Loan
`New Loan
`
`Savingsr
`(Costs)
`
`Present
`Vates
`
`$100, 000. 00
`$216, 000. 00
`
`$2, 00D. DD
`
`$205, 000. 00
`$490, 989 60
`
`($274, 989, 60)
`
`($82, 450. 24)
`
`$0. 00
`
`$2 000. 00
`
`$2 000. 00
`
`($276, 989. 60)
`
`($84, 45024)
`
`10%
`216 Months
`(1BYears)
`St, aao. oo
`
`7 t'ai
`
`360 Months
`(30Years)
`$1, 363. 86
`
`($363. 86)
`Breakeven
`-27. 48 P ayments
`-5. 5 Payments
`
`Tclsi Pcmts snd Fees Fmsncste
`Total Points snd Fees Unnnsncsd'
`
`The calculated
`
`remairung
`
`$10, 000. 00
`$2, 000. 00
`term is used in the cornpanson analysis,
`
`Compare
`
`Lean amount
`
`Total Payment
`Points snd Fees
`Unfinsncsd:
`
`Total Ssvmgs
`
`Tonic
`
`Payment'
`
`Based on the
`a of(term:
`Current Loan
`New Loan
`
`5avingsl
`(Costs)
`
`Present
`Vahe
`
`$100, 000. 00
`$120, 000. 00
`
`$2, 000. 0D
`
`$205, 0DD. DD
`$163, 663. 20
`
`($43, 663. 20)
`
`($82, 450. 24)
`
`$0. 00
`
`$2, 000. 00
`
`$2, 000. 0D
`
`($45@63. 20)
`
`($84, 450. 24)
`
`10%
`120 Months
`(10Years)
`$1, 000. 00
`
`7%
`
`120 Months
`(10Years)
`$1, 363. 86
`
`($363 86)
`
`

`

`Patent Application Publication Apr. 15, 2004 Sheet 30 of 55
`
`US 2004/0073508 A1
`
`FIG. 17d
`
`rtl534I5
`
`Etc
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`"graPh" tab.
`
`c seethe results
`
`in a
`
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`
`Compare
`
`Lacn amount
`Tire' Pcymcni
`Palais cnd Fees
`Unrrncncecr
`
`Tolci Savings
`
`Rate
`
`Term
`
`Pcvmerd
`
`Based on the loan term'
`Current Loan
`New Loan
`
`$100, 000. 00
`$216, 000. 00
`
`$2. 000 00
`
`10%
`216 Months
`(16Years)
`$1, 000 00
`
`$0 00
`$490, 969 60
`
`$0 00
`
`rv
`
`360 Months
`(30Years')
`$1, 363 86
`
`Tarsi Pares and Fees Frmnceit
`farci pants end Fees UCMcnccd
`
`refinance I breakeven calculator
`
`Savtngsl
`(Costs)
`
`Present
`Value
`
`($274, 989. 60)
`$2, 000. DO
`. 6 i
`
`($82 450. 24)
`
`$2, ODO 00
`
`($84, 45D. 24)
`
`($363. 86)
`Breakeuen
`27 48 Payments
`-5. 5 Payments
`
`$10, 000 00
`$2, 000 DD
`term is used m the companson analysis
`Based on the
`a oF term;
`Currern Loan
`New Loan
`
`17c1
`
`17d0
`
`The calculated
`
`remaming
`
`Compare
`
`Loan cmaurr
`
`Tats' PcymenL
`Paliirr wiri Fccc
`Unfrrcname
`
`Total Scvmgs'
`
`Rale
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`Tcriii
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`103, 000. 00
`
`$90, 000. DD
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`$60, 000. 00
`
`$70, 000. 00
`
`$60, 000. 00
`
`$50, 000. 00
`
`$40, 000. 00
`
`$30, 000. 00
`
`$20, 000. 00
`
`$1 0, 000. 00
`
`seurngsr
`(Costs)
`
`Present
`Value
`
`$10D, DOD. OO
`$120, 000 00
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`$2, 0D0. 00
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`$205, 000 00
`$163. 663 20
`$000
`
`($43, 663. 2D)
`
`$2, 000. 00
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`($92, 450. 24)
`$2, 000. 00
`
`($45, 663»0)
`
`($84, 450»4)
`
`10%
`120 Months
`(TDYears)
`$1, 000. 00
`
`7%
`
`TZl Months
`(tOYears)
`$1, 363 96
`
`($363. 86)
`
`s NPV of Cash Flows
`~ NPV Considenng Liability
`
`$-2, 000. 00
`0 22 48 75 106 14'I 176 211 247 292 317 352
`Penod
`
`

`

`Patent Application Publication Apr. 15, 2004 Sheet 31 of 55
`
`US 2004/0073508 A1
`
`FIG. 17e
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`

`Patent Application Publication Apr. 15, 2004 Sheet 32 of 55
`
`US 2004/0073508A1
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`

`

`Patent Application Publication Apr. 15, 2004 Sheet 33 of 55
`
`US 2004/0073508 A1
`
`FIG. 1 76 ~cont
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