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.

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 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 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 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.

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

Fannie Mae has updated its rental income policy to allow income generated from an Accessory Dwelling Unit (ADU) to be considered as part of a borrower’s qualifying income, marking a notable shift in how these secondary units may influence loan eligibility and underwriting decisions.

Originally published in the October 10, 2025, issue of AI’s Appraisal Now
Reprinted with permission from AI

The partial shutdown of the federal government is creating uneven impacts across the mortgage and housing landscape. While some loan programs continue operating, others have slowed or paused entirely—creating uncertainty for lenders, appraisers, and borrowers alike.

Originally published in the October 3, 2025, issue of AI’s Appraisal Now
Reprinted with permission from AI

Now in its sixth year, the IVSC Valuation Webinar Series brings together valuation professionals from around the world to explore the forces shaping the profession in 2025.

At its November 13-14, 2025, meeting in Chicago, Illinois, the Appraisal Institute Board of Directors will consider proposed amendments to the Appraisal Institute Bylaws and Regulation Nos. 1, 2, 3, 7, 8, and 9 regarding:

• Chief Executive Officer Powers and Duties
• Chief Executive Officer Title
• Course Examination Requirements for Candidates
• National Nominating Committee
• Regular and Special Board Meeting Related Requirements

Unless otherwise noted, the proposed amendments are expected to have no or minimal financial impact.