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Welcome to our newest #NCAI members! We're thrilled to introduce the latest additions to our community:

• Karen Drury – Affiliate Member
• Diamond Staton-Williams – Associate Member
• Stephanie Forloines – Associate Member
• Tracy Simpson – Associate Member

Please give them a warm welcome when you see them around! We can't wait to see how their unique talents and perspectives enrich our community.

The North Carolina Chapter of the Appraisal Institute would like to congratulate Barbara A. Johenning for earning three prestigious Appraisal Institute designations. Ms. Johenning earned her MAI in 2012, the AI-GRS in 2020, and, most recently, the AI-RRS.  Her appraisal career started at Integra Realty Resources – Miami in 2000.  She began taking AI courses shortly afterward and immediately became involved with the South Florida Chapter. 

“From the start, I realized that the coursework and education provided by the Appraisal Institute was superior to any other courses I had taken, and being the personality type that I am, I continued my appraisal education in search of designation after achieving my state certification.  I have not regretted that decision in the least, as achieving my designation(s) has been a keystone of my career achievements.” ~   Barbara A. Johenning, MAI, AI-GRS, AI-RRS

The North Carolina Chapter of the Appraisal Institute would like to congratulate David Wortman for earning the prestigious MAI designation. Mr. Wortman is located in Hickory, NC, and is part of the Infrastructure Practice Group with Cushman & Wakefield. His work is focused on right-of-way and eminent domain appraisals in North Carolina and beyond. His wife, Tammy, is also an appraiser trainee with Cushman & Wakefield. Mr. Wortman and his wife were both teachers before moving into the appraisal world full-time.

Mr. Wortman was in attendance at the NCAI Q1 Chapter Business Meeting, held March 12th at HopFly Brewing Company in South End. As part of the business meeting program, Mr. Wortman, along with our recent designees, was recognized for earning his MAI designation.

The North Carolina Chapter of the Appraisal Institute would like to congratulate Zachary Northcott for earning the prestigious MAI designation.  Mr. Northcott owns NorthStar Valuation Services, LLC, which is based in Hickory, NC.  Mr. Northcott’s work is focused on general commercial appraisal assignments in western and central North Carolina.  He also specializes in appraising convenience store properties in North Carolina, South Carolina, Tennessee, and Virginia.

Mr. Northcott would like to extend special thanks to his wife, Elisabeth, for her support during long hours taking courses and studying while working on his designation, and to his daughter, Penny, for keeping his spirits up! 

Important Upcoming Deadlines
Apply by Friday, February 28th

Join the Leadership Team

This year's Nominating Committee will meet soon to nominate qualified chapter members for 2026 elected positions.

Participation from our designated members, candidates, and practicing affiliates is vital to the Chapter and is critical in advancing our organization and the profession.

This year's Nominating Committee will meet soon to nominate qualified chapter members for 2026 elected positions. 

Participation from our designated members, candidates, and practicing affiliates is vital to the Chapter and is critical in advancing our organization and the profession.

  Symposium Information  

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The National Nominating Committee seeks the names of members interested in serving as the 2026 Vice President of the Appraisal Institute. The 2026 Vice President succeeds to the offices of 2027 President-Elect, 2028 President, and 2029 Immediate Past President.

If you are interested in serving or would like to recommend an individual who meets the qualifications for the position, please email your written recommendation to Sandra Adomatis, SRA, who will serve as Chair of the 2025 National Nominating Committee, c/o Joan Barngrover at [email protected]. All recommendations must be received by February 6, 2025, 5:00 p.m. CT. The National Nominating Committee will contact potential candidates with the requirements for continuing the process.

Originally published on January 21, 2025, by The Appraisal Institute for EINPressWire.

In the wake of recent natural disasters, including the devastating wildfires in Los Angeles and hurricanes across the southeastern United States, the Appraisal Institute urges property owners and businesses to seek expert advice before accepting direct cash buyouts from insurance companies to settle claims. Understanding the complexities of insurance settlements requires a clear property value assessment, especially during such challenging times.

Insurance companies often offer cash settlements to expedite claims after disasters. While these offers may seem straightforward, they may not fully reflect the real value of the property or its recovery potential. The Appraisal Institute emphasizes the importance of working with highly trained and objective real estate appraisers, including SRA-designated professionals for residential properties and MAI-designated professionals for businesses and commercial properties.

In a statement, Paula Konikoff, JD, MAI, AI-GRS, President of the Appraisal Institute, underscored the value of consulting designated appraisers:

“Natural disasters create significant challenges for property owners and businesses, particularly when navigating insurance settlements. Consulting with SRA- or MAI-designated appraisers provides access to highly qualified professionals who can deliver unbiased, accurate valuations to help owners make informed decisions. These insights are critical to ensuring that settlements align with the property's true value, protecting financial interests during recovery and rebuilding.”

Women's Initiative Committee Seminar - How I Got Started
12:00 PM - 1:00 PM EST

Learn from 3 different appraisers in South Carolina how they got started in the appraisal business and how they got to where they are today—moderated by our own Vanessa Hall, MAI, AI-GRS.

Register Now

2025 Economic Outlook: Navigating Trends and Opportunities
2:00 PM - 3:00 PM EST

The North Carolina Chapter of the Appraisal Institute would like to thank Barry and Tracy Pomeroy for their $5,000 donation to the Scholarship Fund in honor of their son, Rudy Pomeroy, MAI, SRA. Mr. Pomeroy has been an active member of NCAI since 2009 and is currently serving as a member of the chapter's Board of Directors. Mr. Pomeroy has also served as a Region V Representative on behalf of NCAI, as the Chair of the Public Relations Committee, and as a member of the Candidates / Practicing Affiliates Committee. 

Mr. Pomeroy owns AAA Valuations, headquartered in Belmont, NC, and has provided professional real estate appraisal and valuation services in North and South Carolina since 2017. The company specializes in eminent domain and condemnation appraisals for public entities throughout the state. Their projects involve valuations of uneconomic remnants, damages from various sources including but not limited to access and visibility, the estimated cost to cure analysis, and typical diminution damages from right-of-way and easement acquisitions. AAA Valuations takes pride in providing service excellence daily and works hard to communicate early and often with their clients. Their primary objective is to provide professional real estate services that are timely and cost-effective for their clients. The ultimate goal at AAA Valuations is “To make our client look good. We pride ourselves on our strong work ethic and sound judgment in assisting our clients with their valuation needs. AAA Valuations is proud to have women and minority representation within our ownership structure, reflecting our commitment to diversity and inclusion. AAA Valuations’ commitment to staff engagement supports our initiative to attain and maintain a diverse workforce, leading to high performance and productivity.” 

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Originally published on December 13, 2024 by The Appraisal Institute.

A study on the use of time adjustments by appraisers conducted by two researchers at the Federal Housing Finance Agency in November contains serious flaws that misrepresent the appraisal process and further demonize the appraisal profession regarding racial bias.

The study, Underappraisal Disparities and Time Adjustments to Comparable Sales Prices in Mortgage Appraisals, contends that appraised values often fail to reflect rapidly increasing home prices in competitive markets. It further raises housing equity concerns, claiming that time adjustments are used less to cure “underappraisal” in majority Black and Hispanic neighborhoods than in major White neighborhoods. The study suggests appraisers should use automated valuation models, and lenders should randomly assign appraisal orders to mitigate bias.

For one, the assumption that appraisals should ideally mirror the pace of rising market prices oversimplifies the role of appraisers and the appraisal process. The study does not sufficiently account for the complexity of making time adjustments in markets with uneven price growth or where transaction volumes are low, limiting the availability of comparable sales.

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On December 5^th, 30+ members and guests celebrated at the 2024 J. Scott Robinson Installation Ceremony and Q4 Chapter Business Meeting, held in Western North Carolina at the Chetola Resort in Blowing Rock.

In support of rebuilding Western North Carolina and in the holiday spirit joined together to mingle and enjoy food and drinks. Mike Elwell, MAI, SRA gave his final address as the 2024 President, and the 2025 officers were installed, including incoming President, Kelli Mayhew, MAI, SRA. We were pleased to welcome Paula Konikoff, JD, MAI, AI-GRS, President for 2025 for the Appraisal Institute to give a State of the Union. Her presentation discussed 92 years of Appraisal Institute and how the profession has changed and is moving forward. Paula gave the Installation for 2025 new officers for the chapter. The event also highlighted the most recent designated members, Spencer Brown, MAI, and Micheal Sollitto, MAI. 

Lend Your Hands to the Healing

As winter approaches, thousands of WNC families remain in need of critical supplies and materials to recover and rebuild. Your donation goes directly toward purchasing supplies, fuel, and equipment for the families of WNC. Please click one of the links below: 

We’re excited to offer our dedicated members an exclusive 20% discount on all publications in our bookstore. Elevate your industry knowledge with the latest insights and research—our way of acknowledging your dedication. Use promo codeTHANKS24 at checkout. Offer valid until December 31, 2024.

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Originally published on November 19, 2024 by The Appraisal Institute.

The Appraisal Institute is pleased to announce the release of A Guide to Appraising Religious Properties by Bradley R. Carter, MAI, a leading authority in the field of property valuation. This pivotal new book offers a comprehensive look into the field of appraising religious properties, providing invaluable insights amid the evolving landscape of real estate and religious institutions.

THANK YOU
Your Membership Means the World to Us!

To show our appreciation, we offer all members who pay their renewal invoice in full by January  6, 2025, a discount code for one seven-hour online (on demand-only) Appraisal Institute course (excluding USPAP). 

Furthermore, we have enacted the following changes to renewals in 2025:

• No annual CPI increase in national dues this year.
• No more late fees.
• Practicing Affiliates and Candidates will now pay the same national dues rate of $400.
• Elimination of pro-rated, add-on dues for Designated Members achieving an additional designation only in the year they achieved that additional designation between February and October.

Renew Today

Advance Your Career in Green Real Estate! We're thrilled to offer a unique learning opportunity for appraisers! Thanks to a special partnership between the South Carolina Chapter of the Appraisal Institute and the South Carolina Energy Office, you can join our Valuation of Sustainable Buildings Series.

Series Dates:

• Introduction to Green Buildings: December 4, 2024
• Appraising Green Residential Buildings: January 16, 2025
• Valuation of Solar in Residential & Commercial: February 3-4, 2025

Sign up today to secure your spot and move towards becoming a certified sustainable valuation professional.

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