Members Celebrated 2021 at the Q4 Chapter Meeting

On December 9, 55+ members & guests celebrated at the 2021 Q4 Chapter Business Meeting and Installation Ceremony held at the Foundation for the Carolinas in Charlotte. The event also drew members and guests virtually via the live stream.

This year’s event recognized the late J. Scott Robinson, MAI, SRA, AI-GRS, AI-RRS, MRICS by presenting a commemorative crystal to his wife, Kim, who was in attendance. The NC Chapter’s Installation Ceremony has been officially renamed to the J. Scott Robinson Installation Ceremony in Scott’s honor. Scott, who passed in January 2021, was a longtime, active member of the Appraisal Institute and the NC Chapter and served the organization in many capacities, including being the 2016 President of the Appraisal Institute and the 2005 President of the NC Chapter.

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Number of Missed Mortgage Payments Down, Skipped Rent Payments Up: MBA Report

Originally published on December 7, 2021, for the Mortgage Bankers Association.

Renters were three times more likely than homeowners to miss payments during September and October, according to updated research released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America.

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Retail Real Estate Continues to Recover, Led by Sunbelt and Suburban Properties: JLL

Retail real estate continues to recover, with growing interest in the Sunbelt states and the suburbs; urban retail is expected to rebound once office workers return and tourism picks up, JLL reported Dec. 6 in its Retail Recovery report. Open-air shopping centers remain the sector’s strongest assets, and as for indoor malls — the good ones are here to stay.

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Welcome All 2021 New Members

We’d like to welcome our new members who joined the Chapter in 2021! The newest members who joined in Q42021 are Claudia Ray, Joel Phillips, and Christian Varela.

  • Alan Merritt Wilson
  • Alexis Nelson
  • Allen Peyson Hunt, III
  • Andrew Cypcar
  • Ashley Cate Cooper, MAI
  • Bradley P. Dunn
  • Caitlin Timmons McCain
  • Candy Getz
  • Christian Varela
  • Cindy M. Pickup, MAI, AI-GRS
  • Claudia  Jane  Ray
  • Cynthia Megan Gregory
  • David  Asuka  LaVigne
  • Gregory Lynn Smith
  • Jackson Tate
  • James Stotler
  • Jay S. Navarro, MAI
  • Jessica H. Williams
  • Jessica P. Rouse
  • Joel Phillips, SRA, AI-RRS
  • Julie M F Lemonds
  • Kristina Van Buskirk
  • Kyle Leon Bynes
  • Lori Mitchell
  • Michael Sollitto
  • Parker Deans Howard
  • R. Ryan Shively, MAI, SRA
  • Richard T Bryson
  • Sueann Nelson
  • Thomas C Alligood
  • Tyler Joseph Skaggs

Meet the Member: Greyson Morgan

  • Where do you live and who do you work for?
    I currently live in Greenville, NC and I work for Colliers International as a Senior Valuation Specialist.
  • How long have you been appraising?
    Since November of 2012
  • Who was your supervisor as a Trainee and how did you meet them?
    Bruce Sauter of F. Bruce Sauter & Associates, Inc. in Greenville.  We met while playing golf together at Ironwood Country Club.
  • What is the most unique property you’ve appraised?
    The Jarrett Bay Boatworks Industrial Park in Beaufort, NC.
  • What is a fact about you, outside of work-life, that people would be surprised to know?
    I am an Eagle Scout.

One Quarter of Homes Constructed Last Year Were in Established Neighborhoods: NAHB

Originally published on December 9, 2021, by the National Association of Home Builders.

According to the latest Annual Builder Practices Survey (ABPS), one in four new single-family detached homes were built in established neighborhoods in 2020. Homes built on infill lots constituted 18.6% of new homes, while homes built after tearing down an existing building constituted 6.4% of new homes.

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White House Mulls Restrictions on All-cash Property Sales

Originally published on December 6, 2021by Justin Sink for

The U.S. Treasury Department will begin developing regulations that could expand reporting requirements for all-cash real estate purchases as part of the Biden administration’s efforts to cut down on global corruption, according to two senior administration officials.

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Cap Rates for Medical Sector Squeezed, Overall Net Lease Down: The Boulder Group

Originally published Q3 2021 by the Boulder Group.

Cap rates for the single-tenant, net lease medical sector compressed 55 basis points during the third quarter to 5.95% when compared to the same point a year ago, The Boulder Group reported Dec. 2 in its Q3 Net Lease Medical Report. The overall net lease market, comprised of retail, office and industrial, was down 23 basis points year-to-year.

View Net Lease Medical Report

Many CRE Firms Among Businesses Rethinking, Repurposing Office Space, Survey Reveals

Originally published on November 30, 2021, by Patrick Sisson for Bisnow National.

A majority of commercial real estate employees expect to be working “completely or partially virtually going forward,” according to a new survey and report released by Deloitte. 

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Industrial Sector Faces Intense Pressure for Space: Report

Originally published by Patricia Kirk on December 1, 2021 for

Through most of the pandemic, the U.S. industrial sector has been performing so well that both rents and prices have been nearing records. But a recent report from the logistics giant Prologis highlights just how intense the competition for space has become, noting that the logistics space in the U.S. is “effectively sold out.”

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Agencies Raise Appraisal Exemption Threshold

Originally published on December 1, 2021, by Michael Robinson for The Consumer Financial Protection Bureau.

The Consumer Financial Protection Bureau, the Federal Reserve Board, and the Office of the Comptroller of the Currency today announced that the 2022 threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans will increase from $27,200 to $28,500.

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Report Shows Rent Growth Slowed in November, Indicates Return to Historic Norms

Originally published on November 22, 2021, by Jeff Andrews for Zumper.

Notable Trends

  1. Rent has been rising at an alarming rate all over the country throughout 2021, but Zumper’s National Rent Index for November shows for the first time this year a slower pace of rent growth that more closely resembles historical norms. Is this a sign that the rental market is finally cooling off just a blip after months of unsustainable growth?
  2. Large cities in Florida have experienced some of the most rapid rent growth in the country. In particular, rent in Tampa and St. Petersburg has grown so much since the pandemic that both cities have risen substantially on Zumper’s 100 most expensive markets in the United States.
  3. Like a lot of places on the West Coast, the Seattle metropolitan area saw rent drop after the pandemic hit in March 2020. But now 18 months later, Seattle and its neighboring areas are posting sizable year-over-year gains in rent, and rent in Seattle itself is almost back to where it was prior to the pandemic.
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Home Sales Expected to Remain Unseasonably Hot Through Winter, NAR Reports

Originally published on November 24, 2021, for Realtor Magazine.

This winter is expected to be unseasonably hot for the housing market.

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VA Increasing Appraisal Fees, Turnaround Times

Originally published on November 19, 2021, by Georgia Kromrei for

The Department of Veterans Affairs will raise appraisal fees and lengthen allowable turnaround times in select markets across the country in response to the high demand for appraisals.

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FHFA Conforming Loan Limits for 2022 Approach $1M

Originally published on November 30, 2021, by the Federal Housing Finance Agency.

The Federal Housing Finance Agency (FHFA) today announced the conforming loan limits (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2022. In most of the U.S., the 2022 CLL for one-unit properties will be $647,200, an increase of $98,950 from $548,250 in 2021. 

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Home Prices in Opportunity Zones on Par with US Market, but Values Aren’t: ATTOM

Originally published on November 18, 2021, by Christine Stricker for ATTOM.

ATTOM, curator of the nation’s premier property database, today released its third-quarter 2021 special report analyzing qualified low-income Opportunity Zones established by Congress in the Tax Cuts and Jobs Act of 2017 (see full methodology below). In this report, ATTOM looked at 5,402 zones around the United States with sufficient sales data to analyze, meaning they had at least five home sales in the third quarter of 2021.

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CRE Lending Activity on the Upswing, Led by Alternative Lenders and Banks: CBRE

Originally published on November 17, 2021, by Michael Tucker for Mortgage Bankers Association.

CBRE, Dallas, reported commercial real estate lending activity surged in the third quarter, reflecting rebounding property acquisitions activity.

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Apartment Buildings Dominate CRE Transactions, Data Shows

Originally published on November 17, 2021 by Prashant Gopal for Bloomberg | Quint.

(Bloomberg) -- U.S. apartment building sales have jumped to record levels, outpacing all other forms of commercial real estate. Deals totaled $241.9 billion in the 12 months through September, up 27% from the same period in 2019, according to a RealPage Inc. analysis of data from Real Capital Analytics Inc. going back to 2001. Apartments accounted for 44% of all transactions, the most for any commercial-property type. 

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FHFA Releases 2022 Scorecard for Fannie, Freddie, Common Securitization Solutions

Originally published on November 17, 2021, by Adam Russell for the Federal Housing Finance Agency.

Today, the Federal Housing Finance Agency (FHFA) released the 2022 Scorecard for Fannie Mae, Freddie Mac (the Enterprises), and Common Securitization Solutions, LLC (CSS). The purpose of the 2022 Scorecard is to hold the Enterprises and CSS accountable for fulfilling their core mission requirements by promoting sustainable and equitable access to affordable housing and operating in a safe and sound manner.

AI Board of Directors Approves Strategic Priorities for 2022

The Appraisal Institute Board of Directors at its Nov. 11-12 meeting in Chicago approved the Strategic Plan strategies that will guide the organization’s efforts in 2022, and beyond.

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