The North Carolina Chapter of the Appraisal Institute would like to congratulate Alex T. Keith for earning the MAI designation. Alex completed the requirements for the MAI designation in December of 2025. 

Alex T. Keith is a Certified General Real Estate Appraiser and Property Manager with his family-owned and run business and real estate valuation firm, Tom Keith & Associates, Inc. As a supervisor and manager of the firm, Alex has been involved in overseeing over 700 appraisals of real estate properties and has been actively managing over 75 properties including hunting land, industrial facilities, and office/retail buildings.

Originally published in the January 13, 2026, issue of AI’s Appraisal Now
Reprinted with permission from AI

A newly introduced bill in the Illinois General Assembly highlights the increasingly important role of professional real estate appraisers in resolving land use conflicts tied to large-scale data center development. Illinois House Bill 4319 (2025, 2026), the Property Owner Protection from Data Center Impacts Act, was introduced on January 7, 2026, by Rep. Jed Davis (R, 75). The legislation establishes a framework allowing property owners to seek compensation for measurable harm caused by the construction or operation of nearby data centers, with valuation determinations grounded in professional appraisal analysis.

NCAI is pleased to announce the chapter will be hosting our first ever WIN Conference, which will be held on Thursday, March 12th at the Canopy Realtors Building in Charlotte, NC. Save the date and join us for a day filled with network building opportunities and engaging speakers covering real estate from a variety of perspectives, including development, brokerage, appraisal, and investment. Registration is scheduled to open in early February. Continuing education credit is pending. Sponsorship opportunities will also be released in February. Our experts will address current real estate issues, how the use of artificial intelligence can benefit real estate practitioners and how real estate impacts our communities and the world around us. We have a phenomenal speaker line up including:

• Debbie Gallimore, CIPS, CCIM - Principal and Broker-In-Charge of Gallimore Associates, 2022 NC-CCIM of the year and 2026 President of the NC-CCIM Chapter
• Megan Oglesby - Senior Advisor to The Congdon Foundation, Principal Investor of the Carolina Core FC professional men’s soccer team and Founding Board Member and Investor in WPSL Pro, a new Division II women’s professional soccer league
• Kelly Davids - President of The Appraisal Foundation
• Ashley Johnson, MAI, SRA, R/W-AC – President of First Appraisal Group, Inc. and 2026 President Elect of the Appraisal Institute
• Heather Placer Mull, MAI, SRA, ARA, CCIM, ASA – President of Placer Realty Advisors, LLC,  Appraisal Institute national board of directors 2020 – 2024, President of Mid-Atlantic CCIM Chapter 2020, Virginia Real Estate Appraisers Board 2020 - 2024, 2023 Chair for the NAR Commercial Economic Forum and 2025 Vice Chair for the NAR Commercial Leadership Forum
• Claire Aufrance, MAI, SRA – President of Aufrance Valuations, LLC and 2026 Chair of the North Carolina Appraisal Board
• Chandra Mast – President of Red Rose Appraisals, Secretary of the Pennsylvania State Board of Certified Real Estate Appraisers, and Artificial Intelligence SME and instructor

This year's Nominating Committee will meet soon to nominate qualified chapter members for 2027 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.

Article by Nathan Pippin, SRA

Nationally, the Appraiser Qualifications Board (AQB) establishes the minimum qualification requirements for real estate appraisers. These minimum standards are updated periodically to ensure the profession keeps pace with market demands, technological advancements, regulatory needs, and workforce trends. When the AQB revises its requirements, state legislatures and appraiser regulatory agencies (such as the North Carolina Appraisal Board) are required to implement those minimums. Importantly, states retain the authority to impose additional requirements beyond the AQB-prescribed standards.

The North Carolina Appraisal Institute proudly recognized the recipients of the 2025 NCAI Chapter Awards at the Q4 Chapter Business Meeting & Installation Ceremony held on December 11 in Greenville, North Carolina. These newly established chapter awards honor outstanding service, leadership, innovation, and lasting contributions that strengthen both our chapter and the appraisal profession.

Approved by the NCAI Board of Directors earlier this year, the Chapter Awards were created to celebrate members whose dedication and impact exemplify the mission and values of the North Carolina Appraisal Institute. Each award recipient will receive a framed certificate, recognition across NCAI media platforms, a press release for local distribution, and one complimentary Continuing Education (CE) registration (up to seven hours) to be used within the following year.

Thank you to everyone who joined us at Brook Valley Country Club in Greenville, NC on December 11 for NCAI’s Q4 Chapter Business Meeting and the J. Scott Robinson Installation Ceremony. It was a wonderful way to close out 2025, celebrate the holiday season together, and reflect on another productive year for the chapter.

(L-R): Treasurer Laura Gourlay, MAI, AI-GRS; Immediate Past President Kelli Mayhew, MAI, SRA; 2026 President Greyson Morgan, MAI; President-Elect Erica Butler, MAI; Vice President Brian Crowder, MAI; and Secretary Nathan Pippin, SRA.

Originally published in the December 12, 2025, issue of AI’s Appraisal Now
Reprinted with permission from AI

In Lake Jordan Holdings, LLC v. Commissioner (T.C. Memo. 2025-123), the U.S. Tax Court again sharply criticized an inflated conservation easement valuation, reducing a claimed $12.7 million deduction to just $1.09 million and sustaining a 40% gross valuation misstatement penalty. The Court found that the taxpayer’s appraiser, who lacked an Alabama license and relied on aggressive assumptions and extensive cut-and-paste narrative material, produced an appraisal that was “egregious” and unsupported by market evidence.

Originally published in the December 12, 2025, issue of AI’s Appraisal Now
Reprinted with permission from AI

The Appraisal Industry Improvement Act (AIIA), bipartisan legislation introduced in the House of Representatives by Janelle Bynum (D-OR) and Byron Donalds (R-FL), has reemerged as Congress prepares to take up a broader bipartisan housing package. Although the Senate-released National Defense Authorization Act (NDAA) ultimately excluded appraisal provisions, the momentum behind federal housing reforms creates a viable path for incorporating the AIIA and the Portal for Appraisal Licensing (PAL) Act into upcoming legislative negotiations.

Kelli Kline Mayhew, MAI, SRA

2025 has been a tumultuous year for the Appraisal Institute, yet the North Carolina chapter has accomplished much to be proud of and has many reasons to be grateful. Your executive officers and board of directors met their every responsibility - and every challenge - with grace, professionalism, and a steadfast commitment to steering this chapter in a positive direction. Your committee chairs executed their responsibilities with enthusiasm, creativity, and an eye toward strategically building opportunities for service to you, the members, in 2026 and beyond.

Originally published in the December 5, 2025, issue of AI’s Appraisal Now
Reprinted with permission from AI

A recent news report highlights that mom-and-pop business bankruptcies have climbed to record levels as debt burdens rise. The spike has pushed more small businesses into Subchapter V restructurings, where real estate often plays a central role in determining whether a reorganization plan can succeed.

Originally published December 3, 2025 by The Appraisal Foundation
Reprinted with permission from AI

The Appraiser Qualifications Board has released an exposure draft of proposed changes to the Real Property Appraiser Qualification Criteria, accompanied by two concept papers.

Originally published December 2, 2025 by The Appraisal Foundation
Reprinted with permission from AI 

The Appraiser Qualifications Board has released an exposure draft to address three narrowly defined issues: 1) interpretation of a Practical Applications of Real Estate Appraisal (PAREA) requirement, 2) interpretation of a Valuation Bias and Fair Housing Continuing (VBFH) Education requirement, and 3) retirement of Guide Note 4 on the practicum.

Originally published in the December 5, 2025, issue of AI’s Appraisal Now
Reprinted with permission from AI

The Appraisal Institute recently submitted comments to the U.S. Department of Housing and Urban Development (HUD) in response to its request for information on the future of reverse mortgage programs. In its letter, the Appraisal Institute emphasized the importance of retaining the second appraisal requirement, calling it a vital safeguard against overvaluation that protects the Mutual Mortgage Insurance Fund, supports accurate collateral valuation for investors, and ultimately safeguards senior homeowners.

Our membership keeps growing. We're thrilled to introduce the following new member of the North Carolina Chapter of the Appraisal Institute:

Affiliate Member

• Alan Joshua DuPree, Charlotte, NC

 Thank you for joining, and we're excited to have you as a part of the NCAI community!

Originally published in the November 21, 2025, issue of AI’s Appraisal Now
Reprinted with permission from AI

As conference negotiations on the National Defense Authorization Act (NDAA) move forward, housing-related provisions remain very much in play. The Road to Housing legislation is widely expected to be included in the final package, although conferees are still working through which components will ultimately make the cut.

Our membership keeps growing. We're thrilled to introduce the following new member of the North Carolina Chapter of the Appraisal Institute:

Associate Member

• James B. Stokes, Raleigh, NC

 Thank you for joining, and we're excited to have you as a part of the NCAI community!

Our membership keeps growing. We're thrilled to introduce the following new members of the North Carolina Chapter of the Appraisal Institute:

Associate Members

• Ryan Hlubb, Jr., Charlotte, NC 
• Heather Sica, Denver, NC
• Christopher Aaron Stafford, Kill Devil Hills, NC

 Thank you for joining, and we're excited to have you as a part of the NCAI community!