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.

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.

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

Some recent media coverage has suggested that inflated appraisals may be contributing to valuation-related lending problems in “fix and flip” scenarios in cities like Baltimore, Maryland. But there’s no evidence to support that claim. What’s really happening is a breakdown in how value premises are interpreted and applied—particularly by institutional investors and analysts who may not fully understand the difference between as-is and as-completed market values.