Learn from 3 different appraisers in South Carolina how they got started in the appraisal business and how they got to where they are today—moderated by our own Vanessa Hall, MAI, AI-GRS.
The North Carolina Chapter of the Appraisal Institute would like to thank Barry and Tracy Pomeroy for their $5,000 donation to the Scholarship Fund in honor of their son, Rudy Pomeroy, MAI, SRA. Mr. Pomeroy has been an active member of NCAI since 2009 and is currently serving as a member of the chapter's Board of Directors. Mr. Pomeroy has also served as a Region V Representative on behalf of NCAI, as the Chair of the Public Relations Committee, and as a member of the Candidates / Practicing Affiliates Committee.
Mr. Pomeroy owns AAA Valuations, headquartered in Belmont, NC, and has provided professional real estate appraisal and valuation services in North and South Carolina since 2017. The company specializes in eminent domain and condemnation appraisals for public entities throughout the state. Their projects involve valuations of uneconomic remnants, damages from various sources including but not limited to access and visibility, the estimated cost to cure analysis, and typical diminution damages from right-of-way and easement acquisitions. AAA Valuations takes pride in providing service excellence daily and works hard to communicate early and often with their clients. Their primary objective is to provide professional real estate services that are timely and cost-effective for their clients. The ultimate goal at AAA Valuations is “To make our client look good. We pride ourselves on our strong work ethic and sound judgment in assisting our clients with their valuation needs. AAA Valuations is proud to have women and minority representation within our ownership structure, reflecting our commitment to diversity and inclusion. AAA Valuations’ commitment to staff engagement supports our initiative to attain and maintain a diverse workforce, leading to high performance and productivity.”
Originally published on December 13, 2024 by The Appraisal Institute.
A study on the use of time adjustments by appraisers conducted by two researchers at the Federal Housing Finance Agency in November contains serious flaws that misrepresent the appraisal process and further demonize the appraisal profession regarding racial bias.
The study, Underappraisal Disparities and Time Adjustments to Comparable Sales Prices in Mortgage Appraisals, contends that appraised values often fail to reflect rapidly increasing home prices in competitive markets. It further raises housing equity concerns, claiming that time adjustments are used less to cure “underappraisal” in majority Black and Hispanic neighborhoods than in major White neighborhoods. The study suggests appraisers should use automated valuation models, and lenders should randomly assign appraisal orders to mitigate bias.
For one, the assumption that appraisals should ideally mirror the pace of rising market prices oversimplifies the role of appraisers and the appraisal process. The study does not sufficiently account for the complexity of making time adjustments in markets with uneven price growth or where transaction volumes are low, limiting the availability of comparable sales.
As winter approaches, thousands of WNC families remain in need of critical supplies and materials to recover and rebuild. Your donation goes directly toward purchasing supplies, fuel, and equipment for the families of WNC. Please click one of the links below:
On December 5th, 30+ members and guests celebrated at the 2024 J. Scott Robinson Installation Ceremony and Q4 Chapter Business Meeting, held in Western North Carolina at the Chetola Resort in Blowing Rock.
In support of rebuilding Western North Carolina and in the holiday spirit joined together to mingle and enjoy food and drinks. Mike Elwell, MAI, SRA gave his final address as the 2024 President, and the 2025 officers were installed, including incoming President, Kelli Mayhew, MAI, SRA. We were pleased to welcome Paula Konikoff, JD, MAI, AI-GRS, President for 2025 for the Appraisal Institute to give a State of the Union. Her presentation discussed 92 years of Appraisal Institute and how the profession has changed and is moving forward. Paula gave the Installation for 2025 new officers for the chapter. The event also highlighted the most recent designated members, Spencer Brown, MAI, and Micheal Sollitto, MAI.
We’re excited to offer our dedicated members an exclusive 20% discount on all publications in our bookstore. Elevate your industry knowledge with the latest insights and research—our way of acknowledging your dedication. Use promo codeTHANKS24 at checkout. Offer valid until December 31, 2024.
Originally published on November 19, 2024 by The Appraisal Institute.
The Appraisal Institute is pleased to announce the release of A Guide to Appraising Religious Properties by Bradley R. Carter, MAI, a leading authority in the field of property valuation. This pivotal new book offers a comprehensive look into the field of appraising religious properties, providing invaluable insights amid the evolving landscape of real estate and religious institutions.
To show our appreciation, we offer all members who pay their renewal invoice in full by January 6, 2025, a discount code for one seven-hour online (on demand-only) Appraisal Institute course (excluding USPAP).
Furthermore, we have enacted the following changes to renewals in 2025:
Advance Your Career in Green Real Estate! We're thrilled to offer a unique learning opportunity for appraisers! Thanks to a special partnership between the South Carolina Chapter of the Appraisal Institute and the South Carolina Energy Office, you can join our Valuation of Sustainable Buildings Series.
Sign up today to secure your spot and move towards becoming a certified sustainable valuation professional.
The High Country is open for business amid its recovery and welcomes us to its communities with open arms. Whether you're sampling local cuisine, skiing pristine slopes, or browsing unique boutiques, Blowing Rock offers an enchanting mountain getaway for the whole family. Join us on December 5th at the scenic Chetola Resort as we wrap up 2024 and welcome our 2025 leadership team.
On Thursday, September 12th, members and guests gathered at The Olde Mecklenburg Brewery in Charlotte, NC for our Q3 Chapter Business Meeting. During our meeting, we had a chance to celebrate our newly designated member, Eric Straughn, MAI. Jim Birch, Chief Operating Officer, of The Olde Mecklenburg Brewery joined the Carolina Chapter meeting as a speaker. The Board and Committee members gave updates, and announcements on the upcoming virtual Real Estate Valuation Conference on September 24 and 26, and Business Practices and Ethics with John Bosworth, MAI, SRA on October 18th. We hope to see you at the Q4 Chapter Business meeting in Blowing Rock, NC at the Chetola Resort on December 5, 2024.
What is your name, title, and company?
Michael Sollitto
Where do you live and what do you work for?
I live in Waxhaw and work for Newmark on the Hotel team covering 7 states in the southeast as well as the Caribbeans, Mexico, and Central Americas.
On behalf of the Appraisal Institute Education and Relief Foundation (AIERF), I am reaching out to chapter leaders seeking nominations for the James H. Pritchett Award. The James H. Pritchett Award was created in 2002, in memory of the late James Pritchett. The Pritchett Award recognizes a Designated member of the Appraisal Institute for outstanding contributions to appraisal education or mentoring with a focus on litigation and condemnation. The ideal candidate is someone like Mr. Pritchett who displays leadership, integrity, and exceptional work in teaching, writing, mentoring, and professional practice in litigation support and eminent domain.
If you know a Designated member worthy of consideration, please email the name of the nominee and a brief letter of recommendation to [email protected] by July 31. Announcement of this and other AI and AIERF award recipients will take place during the Appraisal Institute’s Joint Region Meeting on September 30 in Kansas City.
Originally published on June 6, 2024, by the Appraisal Institute.
The Appraisal Institute, the leading association of real estate appraisers, released the second in its series of short videos profiling valuation professionals. Each video highlights their professional commitment to the public trust and their communities and shows different ways that appraisers bring high-level professional expertise and experience to their work.
Originally published on May 10, 2024, by the Appraisal Institute.
The Appraisal Institute, the leading association of real estate appraisers, released highlights of its Second Quarter Board Meetings, May 9-10, 2024. Chief Executive Cindy Chance, PhD, updated the Board on organizational change, progress and challenges since the first quarter meeting in late February. President Sandy Adomatis, SRA, chaired the meeting at which the Board deliberated on a number of topics with the goal of serving its mission and members’ interests.
On Thursday, June 13th, members and guests gathered at Cape Fear Country Club in Wilmington, NC for our Q2 Chapter Business Meeting. During our meeting, we had a chance to celebrate our newly designated members, Michael Sollito, MAI, Jared Randhawa, MAI, Thomas D. Petz, MAI-GRS, and Heather A. Anderson, AI-GRS. The North Carolina Chapter had a chance to vote on next year's Chapter leadership, hear committee updates, and learn what the Chapter has done so far this year and what lies ahead for the summer and fall. We hope to see you at the Q3 Chapter Business meeting in Charlotte in September.
This May, members Greyson S. Morgan, MAI, Rich Earley, Erica Butler, MAI and Keith Bolte, MAI, AI-GRS attended AI’s 2024 Leadership Development and Advisory Council conference in Washington, DC. On the last day, Erica Butler, MAI was presented with the coveted William T. Anglyn award which is given to the first-year participant who exhibited exemplary leadership, integrity and outstanding contributions to the conference.
The following individuals have announced their candidacies.
The process for nomination and election of the Appraisal Institute’s 2025 vice president has begun. The following individuals (listed alphabetically) have announced their candidacies and will come before the National Nominating Committee at its May 8 meeting in Chicago:
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.
