In today's digital age, homeowners and investors have access to a wealth of online tools to estimate property values. However, when it comes to making significant financial decisions—such as selling a home, analyzing rental potential, or removing private mortgage insurance (PMI)—the expertise of a licensed appraiser becomes invaluable.
Brian Funkhouser, owner at Funkhouser Appraisal Services in San Antonio, Texas, offers experience in the local market with a range of services tailored to meet diverse client needs, including market value appraisals, rental analyses, and PMI removal assessments.
The Distinct Advantage of Licensed Appraisers
“While real estate agents offer comparative market analyses (CMAs) using MLS data and their local expertise, a licensed appraiser uses advanced valuation tools that go well beyond what’s publicly available,” Brian stated.
He added an appraiser’s software doesn’t just pull a few comps—it crunches thousands of data points using multiple linear regression models to produce a statistically-backed valuation.
“My system allows me to look at a property on a micro level—like the specific neighborhood or school district—and then expand out to a macro level, covering large portions of San Antonio,” Brian said. “I can analyze sales activity over three months, six months, or even a year.”
He says this comprehensive data approach allows appraisers to make highly accurate market adjustments.
Know Before You Sell
For homeowners preparing to sell, this level of insight offers peace of mind—and a stronger position in the market. You’ll know if the list price is realistic, aggressive, or potentially leaving money on the table.
Rental Analysis: Beyond the Basics
For property owners and investors, understanding the rental potential of a property is essential. Many realtors are skilled at offering clients a rental estimate based off MLS data. Brian says licensed appraisers provide a more detailed rental analysis backed by verified lease data and precise calculations, which are especially useful for out-of-town investors or buyers purchasing tenant-occupied homes.
An appraiser can help answer questions like:
- Is this rental income truly at market value?
- Should I raise the rent next year?
- Will the property cash flow at current rates?
Banks also require rental income analysis for certain investment loans—and appraisers are the ones called in to provide that documentation.
Dropping PMI: The Overlooked Benefit
Private Mortgage Insurance (PMI) is a monthly cost many homeowners carry until they reach 20% equity in their property. What many don’t realize is you can potentially remove PMI before your loan term expires—if you can prove you’ve hit that 20% mark.
Banks often accept an appraisal as evidence. Let’s say you put 10% down, and the market has appreciated significantly since your purchase. By hiring a licensed appraiser, you can demonstrate that your equity now exceeds 20%, allowing you to remove PMI and potentially shave hundreds off your monthly mortgage.
Final Thoughts
Whether you're listing your home, analyzing a rental property, or trying to eliminate PMI, an experienced appraiser offers more than just a number—they offer confidence. In a market as dynamic and nuanced as San Antonio’s, that confidence can go a long way.
Have questions about your home’s value? I’m here to help. Bruce X. Forey – Your Voice for Real Estate
