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

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.

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 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 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.

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!

The North Carolina Chapter of the Appraisal Institute would like to congratulate David L. Ivey for earning the MAI designation.  David earned the AI-GRS designation in 2017, and completed the requirements for the MAI designation in September of 2025. 

David is currently Vice President and Senior Commercial Appraisal Review Specialist at First Bank, and has been with the bank for 13 years. First Bank focuses on lending predominantly in North and South Carolina. David holds a supervisory role within the real estate department working on compliance and special projects as needed.

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

Associate Member

• Samuel W. Gordon, Jr., Fayetteville, NC 

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

Originally published October 30, 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 Elevation Strategies' October 25, 2025, newsletter by Sebastian King and Jon Hardister.

The NC General Assembly convened for session this week, where they focused almost exclusively on drawing new maps for the state's congressional districts. While the maps for the congressional districts are typically only redrawn every 10 years after the U.S. Census is completed, there has been a move across the country -- among both blue and red states -- to redraw districts for political advantage heading into the 2026 election cycle.

Originally published in the October 17, 2025, issue of AI’s Appraisal Now
Reprinted with permission from AI

Applications for 4th Quarter 2025 are open through December 8th

Originally published in the October 17, 2025, issue of AI’s Appraisal Now
Reprinted with permission from AI

Last week, the US Senate passed its version of the Fiscal Year 2026 National Defense Authorization Act (NDAA) by a bipartisan vote of 77–20. Before final passage, a “Manager’s Amendment” was adopted that included the Renewing Opportunity to the American Dream (ROAD) to Housing Act, a broad housing package aimed at expanding and preserving housing supply, improving affordability and access, and strengthening oversight of federal housing programs.