Meet the Member: Erica Butler, MAI
Where do you live and who do you work for?
I live in the Charlotte MSA I’m the Executive Vice President for Partner Valuation Advisors
How long have you been appraising?
I started appraising in December 2012
Where do you live and who do you work for?
I live in the Charlotte MSA I’m the Executive Vice President for Partner Valuation Advisors
How long have you been appraising?
I started appraising in December 2012
The members of Region V can be proud of the many individuals who have served the Appraisal Institute membership at the Regional and National levels. Through their dedicated service, Region V members have the opportunity to meet and interact with other leaders who are also active in the governance of the organization. This enriches their careers by expanding their network of peers in addition to their knowledge of appraisal and other issues outside of their individual communities. Each of you is urged to become involved in this process by seeking out leaders in your Chapter who will assist Region V with continued service on the National Board of Directors, Committees, and Panels
The Region V Nominating Committee will be meeting live stream via Zoom to prepare a slate of nominees to fill Region V positions for the years 2025-2026. Please consider members within your respective chapters or other Region V chapters who have the skills, eligibility, and character to assume the leadership positions for 2025- 2026 as listed below. You may provide your recommendations to the 2024 Region V Chair, Claire M. Aufrance, MAI, SRA at [email protected], or the Region V Executive Director, Nancy Linton-Hall, by this Friday, February 9, 2024.
Originally published on December 12, 2023, by CBRE.
Economic growth is expected to slow in 2024 and real estate transaction values should decline further, which could create compelling buying opportunities, although lending is expected to remain tight, CBRE reported Dec. 14 in its 2024 U.S. Real Estate Outlook. However, the firm also reported that it expects commercial real estate values to rebound during the second half of the year.
Originally published on December 5, 2023, by Representative Adam Smith (D-Wash.) and Senator Jeff Merkley (D-Ore.)
WASHINGTON, D.C. – Representative Adam Smith (D-Wash.) and Senator Jeff Merkley (D-Ore.) teamed up to introduce the bicameral End Hedge Fund Control of American Homes Act of 2023. This legislation responds directly and forcefully to a persistent and growing problem — What Happens When Wall Street Buys Most of the Homes on Your Block? The purchasing of single-family homes by hedge funds, especially in the current housing market, has made it more difficult for middle-class Americans to become homeowners and is contributing to America’s twin crises of housing unaffordability and wealth inequality.
“In 1971, my father was able to buy the house I grew up in for $15,000 on the salary he earned as a baggage handler at SeaTac Airport. That same house would cost nearly $500,000 today yet wages for workers like my father have not kept up. Too many families in the Puget Sound region and across the country are struggling to afford to rent or buy a home. This crisis has been exacerbated in recent years by an increasing number of large investors purchasing a significant percentage of single-family homes, squeezing out prospective buyers,” said Rep. Adam Smith (D-Wash.). “Congress must take action to crack down on corporate greed and get hedge funds out of the single-family home market. The bill I’m introducing today with my colleagues would ban these problematic hedge funds from the single-family housing market and claw back some of the homes they already own so that more American families have a fair shot at becoming homeowners.”
“The housing in our neighborhoods should be homes for people, not profit centers for Wall Street. Yet, in every corner of the country, giant financial corporations are buying up housing and driving up both rents and home prices,” said Senator Merkley. “It’s time for Congress to put in place commonsense guardrails that ensure all families have a fair chance to buy or rent a decent home in their community at a price they can afford.”
Originally published on December 13, 2023, by Isabelle Novak for Redfin.
The median U.S. asking rent declined 2.1% year over year in November to $1,967—the biggest annual drop since February 2020—according to a report from Redfin (redfin.com), the technology-powered real estate brokerage. This is a 0.6% decline in asking rents since October.
Originally published by Jacob Channel for Lending Tree on December 4, 2023.
Though home prices have come down in some areas, they remain steep across the U.S.
Fellow NCAI Members,
As my term as President of the North Carolina Chapter of the Appraisal Institute ends, I want to take a moment to reflect on the incredible journey we have embarked on together. It has been an honor and privilege to serve as your President and work alongside such resolute individuals who share a common passion for our Chapter and the Appraisal Profession.
On December 6, 85+ members & guests celebrated at the 2023 J. Scott Robinson Installation Ceremony & Q4 Chapter Business Meeting held at the Marriott Greensboro Downtown.
Jim Lynch, MAI gave his final address as the 2023 President and the 2024 officers were installed, including incoming President, Mike Elwell, MAI, SRA. Members mixed and mingled while enjoying food and drinks. We were pleased to welcome Dr. Anthony Nelson, Dean, School of Business, North Carolina Central University, and Jarvis Martin, SRA, Principal with Stewart, Martin, & McCoy, LLC, as they both gave a presentation about NCCU’s new MBA Commercial Real Estate Program – currently the only commercial real estate program at an HBCU - and presented two scholarships for the program.
Originally published in December 2023, by the Appraisal Institute.
Originally published on November 29, 2023, by the FDIC.
I am pleased to report on the release of third quarter 2023 performance results for FDIC–insured institutions.
Originally published on November 28, 2023, by the Federal Housing Finance Agency.
The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages Fannie Mae and Freddie Mac (the Enterprises) will acquire in 2024. In most of the United States, the 2024 CLL value for one-unit properties will be $766,550, an increase of $40,350 from 2023.
Originally published on November 22, 2023, by Erik Sherman for GlobeSt.com.
Office valuations and rents have been hit hard by changing conditions of work and how companies are being forced to manage their real estate. But what’s happening with tech office use, particularly in the wake of the Biden administration's tech hubs strategy?
Originally published on November 22, 2023, by Erik Sherman for GlobeSt.com.
In the minutes of the last Federal Open Market Committee’s meeting, held from October 31 to November 1, the overall take was, “Financial conditions continued to tighten, driven by higher yields on Treasury securities as well as by lower equity prices and a stronger dollar, which themselves partly reflected higher interest rates.”
Originally published on November 21, 2023, by the Economy Team at CoreLogic.
CoreLogic®, a leading global property information, analytics, and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas.
Originally published on November 14, 2023, by the ATTOM Team.
ATTOM, a leading curator of land, property, and real estate data, today released its October 2023 U.S. Foreclosure Market Report, which shows there were a total of 34,472 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — down 6 percent from a month ago but up 6 percent from a year ago.
Originally published on November 8, 2023, by Zachariah Demuth, Jessica Jahns, Marina Bracciani and Ophelia Makis for JLL.
Originally published on November 1, 2023, by the Federal Financial Institutions Examination Council’s Appraisal Subcommittee (ASC).
On Wednesday, November 1, 2023, the Federal Financial Institutions Examination Council’s Appraisal Subcommittee (ASC) held its third public hearing on appraisal bias to discuss how a residential appraisal is developed and reviewed, the process for reconsiderations of value for residential real estate valuations, and the development of rural appraisals.