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The North Carolina Chapter of the Appraisal Institute is part of a global association and was chartered in 1957 under the predecessor organization, American Institute of Real Estate Appraisers.  Today, the NC Chapter has over 650 Designated Members, Candidates, Practicing Affiliates, and Affiliates across the state including over 300 of whom have achieved the MAI and/or SRA designations through the Appraisal Institute (www.AppraisalInstitute.org).   Every year, our Chapter hosts over a dozen educational offerings to real estate practitioners.  We meet four times a year in key cities across the state.  Our mission statement is "The mission of the chapter is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide."

 The Chapter is the largest in Region V and strives to provide superior AI benefits at the local level.  We are headquartered in the Piedmont Triad area of the state.

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Dear NC Appraisal Institute Colleagues: 

I’m writing this at 11:00 am on Veterans Day, a holiday which was at first created to commemorate the end of World War I, the “war to end all wars”.  The armistice, which was signed at 11:00 am on November 11th, 1918, grew as a symbol of global peace.  Originally dubbed “Armistice Day”, the name was changed to Veterans Day in 1954 and today is a celebration to honor America’s veterans for their patriotism, love of country, and willingness to serve and sacrifice for the common good.  I want to say a special thank you to all of our chapter professionals who are veterans, or whose spouses or other family members are veterans.  We owe you our freedom and we honor your sacrifices. 

Within a few weeks, we will be buying our turkeys and preparing for Thanksgiving, a day set aside to celebrate God’s blessings on us as individuals, our families, and our nation.  A good friend of mine who regularly commiserates with me on the lack of work and low fees in the past year and whose wife is having health problems, reminded me today that we need to stop every once in a while and give thanks for our blessings and for the good things that happen in our lives.  So I want to take this opportunity to reflect on a wonderful year of NCAI accomplishments and honor those of you that made it happen.

In the past, it was a major deal to have two or three new designees get their certificates at our meetings.  NCAI presidents in the past have ached to be able to stand up and present certificates to newly-minted MAIs and SRAs.  At our meeting in Greensboro last month, we presented designation certificates to 13 appraisal professionals.  As of September 30th, our chapter was blessed with 16 percent of all designations nationally.  Congratulations to all of you who sacrificed to get your designation this year.  Great work!  A special thanks to Sheri Colvin, MAI and her Candidate Advisory team for assisting in the process.

This year we created the NCAI Investment Survey, which we presented at the Real Estate Valuation Conference this past April.  It’s the first survey, to the best of my knowledge, from any Appraisal Institute chapter, that reports sale price ranges, overall rates, reversion rates, and yield rates for multiple property types in submarkets within the larger state market.  On top of that, the results reflect hard data specifically from peer appraisers, from our own databases within our own submarkets, rather than from just the opinions of investors.  I would hope that we continue this survey, that we get increasing participation, and that we evolve it to become a quarterly publication for NCAI.  Who knows, maybe national AI will eventually create a survey at the national level.  Your 2014 officers feel that the NCAI Investment Survey can be a major way of marketing ourselves as the experts in real estate valuation.   We’re asking that, when the survey comes around again in January or February, that you take time to participate and continue to make the Investment Survey a successful marketing tool for our profession and for Appraisal Institute Professionals.

At its October meeting, the NCAI Board of Directors approved the hiring of a lobbyist for our chapter.  Starting next year, we will have the representation we need at the state level to discover potentially harmful legislation, to identify or create laws beneficial to our industry and to the public, and to cooperate with like-minded coalitions in developing long-range governmental relations plans for our industry.   Joel Tate, SRA, head of the NCAI Government Relations Committee, helped create a special subcommittee headed up by Hector Ingram, MAI.  Known as the Legislative Action Committee (LAC) or the Governmental Action Committee (GAC), its members come from the various regions in North Carolina (Western, Metrolina, Triad, Triangle, and Coastal) and will be responsible for working with our lobbyist to get our political action plans in place and to carry out these plans in the long term.  On the table are topics such as exploring legislation involving evaluation appraisal assignments; working with the NCAB regarding issues of enforcement and guidance; raising our profile by getting more appraisers involved on Boards of Equalization, Review, and Zoning; putting on another Legislative Day for our Spring meeting to be held in Raleigh next year; making the Appraisal Institute the go-to organization for real estate appraisal issues.  Thanks to our chapter board members for not only getting behind the idea to hire a lobbyist, but also to form LAC/GAC committee to drive the whole NCAI governmental relations process for the future.

Thank you for your continued support of the Appraisal Institute and for our North Carolina Chapter!  If I can be of further service to you this year, please contact me at your earliest convenience.  And please step up and get involved with the branch chapters or the state chapter.  We are always looking for good volunteers.

Respectfully submitted,
E. Cody Jetton, MAI
2014 President, NCAI



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