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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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: 

Originally published on July 13, 2023, by the McKinsey Global Institute.

When the COVID-19 pandemic began, it dramatically changed the way people worked, lived, and shopped in cities around the world. The starkest change was where and how they worked. Obeying lockdowns and office closures, tired of uncomfortable masks, and enabled by remote-work technology, many employees abruptly retreated from traditional offices to home offices. Many of those employees, newly freed from their daily commutes, chose to move out of urban cores. And now that fewer of them were working and living near urban stores, fewer of them shopped there. In recent months, some of those behavioral shifts have slowed. Others persist, particularly among office employees continuing to engage in hybrid work (that is, a combination of remote and in-office work).

September Events Coming Up!

Next Week!
Commercial Real Estate Discussion with Robin Boylan
September 15 | 6:00pm | Asheville, NC  

Originally published on April 27, 2021 by Isabelle Novak for Redfin

Originally published on April 22, 2021, by ATTOM Staff for ATTOM Data Solutions Blog.

IRVINE, Calif. — Apr. 22, 2021 — ATTOM Data Solutions, curator of the nation’s premier property database, today released its first-quarter 2021 Special Coronavirus Report spotlighting county-level housing markets around the United States that are more or less vulnerable to the impact of the Coronavirus pandemic that continues to impact the U.S. economy. The report shows that states along the East Coast, as well as Illinois, were most at risk in the first quarter of 2021 – with clusters in the New York City, Chicago and southern Florida areas – while the West continued to face less risk.

The Annual Sponsorship program was created to support and enrich our chapter while offering appraisal professionals and organizations an opportunity to participate in, and get more out of, our chapter activities and services. Thank you to Compstak and Colvin, Sutton, Winters & Associates, LLC for supporting the NC Chapter and championing the appraisal industry in North Carolina!

Compstak (Chairman level)

It is with great sadness that we report the passing of James (Jim) D. McNairy III, MAI, SRA of Greensboro, NC. Jim was a long standing and active member of the Appraisal institute, holding various leadership positions at the chapter and national levels. He was awarded the AI Volunteer of Distinction award for Region V in 2013. Jim served on the NC Chapter’s Executive Committee from 1996-2000 and was NC Chapter President in 2000. In addition, he served on a variety of national and chapter committees including AI’s Experience Screening Panel and the Piedmont Chapter’s Board of Directors in the early 1990’s. Jim and his wife, Jeanne McNairy, MAI, SRA, founded McNairy & Associates in 1978 to provide professional commercial and residential appraisal and consulting services in North Carolina.  

Arrangements are being handled by the Forbis and Dick Funeral Home. Our deepest sympathies go out to Jim’s family.

View Obituary

We’d like to welcome to our newest members who joined in Q4.

• Charles Andrew Alvarez, Jr.
• Zackery Todd Barbee
• Mark R Boone
• Michael Oktavec
• William S. Overton, MAI
• Philip Graham Pruette

This past Thursday, members and guests virtually attended the 2020 Q4 Chapter Business Meeting and Installation Ceremony. We celebrated our newly designated members (Chesney S. Baker, MAI, SRA, AI-GRS; Brian T. Bryant, MAI, AI-GRS; Nirzarni A. Coston, MAI; and William S. Overton, MAI), heard committee updates on how we ended the year, Chris Johnson, MAI, SRA, AI-GRS, ASA gave his final address as the 2020 President, and the 2021 officers were installed, including 2021 President, Mike Moody, MAI.

We’d like to welcome to our newest members who joined in Q3.

• Adam C. Watson
• M. Oniel Jessup, III
• Daniel S Ponce
• Eric L. Randall
• Heather L. Sutton
• Nirzarni A. Coston, MAI
• Jacob Quinton Palmer

Our last NCAI Connect featured Gerald Quattlebaum with Flagship Healthcare Properties who presented a comprehensive look into the healthcare real estate sector. He discussed the development and acquisition of healthcare properties as well as Flagship’s private REIT which has managed to maintain stability in the current economic climate. Private equity increased their share of buying medical office buildings (MOBs) compared with hospital/health systems, provider owners, and REITs. Gerald discussed cap rate trends for on and off campus properties which are holding steady in 2020. Portfolios are seen to be traded at a premium, and overall, pricing remains steady for MOBs. Of the top 50 active markets, Charlotte was third, following New York and LA.  The overall effects of COVID-19 do not appear to impact healthcare properties which are considered a ‘safe harbor’ but there are potential sale-leaseback opportunities if owners and investors decide “to dispose of capital-intensive real estate holdings.”

View the Presentation

Last week, NCAI was joined by Appraisal Institute President Jefferson L. Sherman, MAI, AI-GRS, and Chief Executive Officer Jim Amorin, CAE, MAI, SRA, AI-GRS who spoke with members about the coronavirus pandemic’s impact on the Appraisal Institute, individual appraisers, and the valuation profession, how AI is facing these issues, and projected what the future of the industry looks like. Click here or on the image below to view the recording.

The North Carolina Chapter of the Appraisal Institute (NCAI) has been informed that Jack C. (Cal) Morgan III, MAI, SRA, AI-GRS, has been appointed to the North Carolina Appraisal Board (NCAB) by Tim Moore, NC House Speaker. We congratulate Cal on his appointment, and we thank him for his willingness to be a leader in the appraisal industry. We wish you well in this endeavor, and we know you will continue to promote the highest standards for real estate appraisal practice in the protection of the public trust. 

Cal is a graduate of the College of Charleston, in Charleston, SC. He has over 20 years of experience in real estate appraisal, construction, and investment analysis. He is the owner of JC Morgan Company in Wilmington, NC, which provides appraisal services as well as consulting and litigation support services. Cal is also a NC licensed general contractor and NC real estate broker. He served on the NC Property Tax Commission from 2013 to 2017 and currently serves as the Chairman of the Wilmington Zoning Board of Adjustment. Cal lives in Wilmington with his wife Seanna and their three children.

Governor Roy Cooper announced yesterday that as trends move in the wrong direction, North Carolina will remain in Phase 2 for three more weeks. Executive Order 147 also requires face coverings in public and at various business settings where individuals cannot maintain a physical distance of six feet from others.

Construction sites are specifically included:

The below slate was presented by the North Carolina Chapter’s 2020 Nominating Committee comprised of: Sheri Colvin, MAI (Chair); Joel Tate, SRA; Don Read, MAI; Chesney Baker, MAI, AI-GRS; and David Pope, MAI, SRA.

It was approved as per regulation at the 2^nd Quarter 2020 Chapter Business Meeting held on June 11, 2020. 

Join us Thursday to elect the 2021 Slate of Nominees for Officers, Directors, Regional Representative, & Alternate Regional Representatives, hear updates about what the Chapter has been doing, and congratulate our newly designated members!

Please make sure to register prior to joining the meeting in order to receive the 2 AI credits.

It's with great sadness that we report the passing of George Harrison Keeling, father-in-law of NCAI member and 2016 AI President, Scott Robinson, MAI, SRA, AI-GRS, AI-RRS, of Salisbury, NC. Our deepest sympathies go out to Scott and George's family. 

View the Obituary

Click here to view the audit report prepared by the NC State Auditor of NCDOT.