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Last active August 31, 2015 15:15
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Factors in real estate prices
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data-real-estate-factors.md

Real estate factors

Description

Real estate prices within an area can be predicted from past sales in an area with the addition of various factors:

  • number of bedrooms
  • number of bathrooms
  • square footage of house
  • square footage of lot

In addition, we might speculate that a couple of other factors that are not commonly recorded at at play:

  • distance from shopping
  • distance from schools
  • quality of schools for that district or area

Question

Using data of past sales:

  • can we produce a reliable regression for predicting future sale prices?
  • can we use this information to trade off sale price versus days on the market (i.e. select a price to produce a number of days on the market)?
  • can we predict that certain houses are priced aberrantly relative to their market?

Data sources

  • broker I have dealt with?
  • public source?
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