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Volume 14 September 2004 Number 2
Henry E. Faircloth of Salemburg
has been elected Chairman of the
Appraisal Board for 2004-2005. Mr.
Faircloth was first appointed to the
Board on July 1,
1991, and has
served continu-
ously on the
Board to the cur-
rent date. He led
the Board as
Chairman in the
Board’s first year
as an auton-
omous agency in 1995-1996 and has
served as Chairman on two additional
occasions in 1998-1999 and 2001-2002.
Mr. Faircloth is the Board’s only
public member, as required by state
statute, and has been appointed to
each term upon the recommendation
of the President Pro Tempore of the
North Carolina Senate. He has a great
deal of real estate appraisal expertise
by having served on the Board for this
record-breaking term.
Mr. Faircloth has been a building
contractor for over thirty years and
owns a construction company, which
specializes in commercial construc-
tion. He is on the Board of Trustees for
Sampson Community College and is
very active in both civic and commu-
nity affairs. He and his wife, Faye,
make their home in Salemburg.
Earl M. Worsley, Jr. of Wilmington
has been elected Vice-Chairman of
the Appraisal Board for 2004-2005.
Governor Michael F. Easley appointed
Mr. Worsley to the Board in 2003 for a
term which expires June 30, 2006.
Mr. Worsley is a state-certified
general appraiser and holds the pro-
fessional designation of M.A.I. from
the Appraisal Institute. Mr. Worsley is
a North Carolina real estate broker
with the CRE designation and has
been active in the National
Association of Realtors through its
local Board in Wilmington. He is a
native of Pitt County and a graduate of
East Carolina University. Mr. Worsley
formed the Worsley Real Estate
Company in 1995
to concentrate as
an advisor and
consultant in
various real
estate ventures.
Mr. Worsley has
many years of
experience in
real estate ap-
praisal, broker-
age and also in real estate investment
and development. Mr. Worsley also
formed Worsley Investment and
Development, LLC and is very active
in the investment and development of
real estate in eastern North Carolina.
Mr. Worsley is married to
Charlotte Wilson Moseley and they
have one son, William Earl Worsley.
Governor Michael F. Easley has
recently reappointed three Board mem-
bers for further service on the Board.
Charles K. Hinnant was reappoint-
ed to a three-year term to expire June 30,
2007. Mr. Hinnant is a state-certified gen-
eral appraiser from Kenly and has
served on the Board since April 2002.
E. Ossie Smith was reappointed to
a three-year term to expire June 30, 2007.
Mr. Smith is a state-certified general
appraiser from Oxford and has served
on the Board since September 1995.
J. Vance Thompson was reappoint-
ed to a three-year term to expire June 30,
2007. Mr. Thompson is a state-certified
residential appraiser from Elkin and has
served on the Board since March 1998.
President Pro Tempore of the Senate,
Mark Basnight, reappointed a member
for further service to the Board.
Henry E. Faircloth was reappoint-
ed to a three-year term to expire June 30,
2005. Mr. Faircloth is the Board’s only
public member and has served on the
Board continuously since July 1991.
Board Elects Officers
Henry E. Faircloth Earl M. Worsley, Jr.
Board Members Reappointed
New Board Legal
Counsel
The Attorney General’s Office has
confirmed that Roberta Ouellette has
been assigned as Legal Counsel to the
Board effective August 2, 2004. Ms.
Ouellette previously served the Board in
this capacity for eight years. For the past
year, she represented the Department of
Transportation in condemnation litiga-
tion. She is a graduate of the University
of New Hampshire and the University of
Maine School of Law.
Ms. Ouellette will serve as General
Counsel for the Board and will also be
responsible for the prosecution of dis
ci-
plinary actions.
Supervision of Trainees
The Board enacted rules effective August 1, 2002 that set out the responsibili-
ties of a supervising appraiser, and has published those rules on several occa-
sions. Rule 21 NCAC 57A .0407 lists seven conditions that must be met by the
supervisor. The Board is concerned that two of these rules are not being followed
by an alarming number of supervising appraisers.
Supervisors must accompany trainees on the first 50 appraisals performed
under that person's supervision. The only appraiser who can accompany the
trainee as supervisor is the appraiser who signs the appraisal report as supervisor.
Even after the trainee has performed 50 appraisals, when the subject proper-
ty is located more than 50 miles from the supervisor's primary business address,
the supervisor must accompany the trainee on all inspections. The supervisor
cannot meet this requirement by inspecting the property before or after the
trainee performs the inspection.
When these rules are not followed, the supervising appraiser is subject to dis-
ciplinary action and the trainee will be denied experience credit for those
appraisal reports.
The complete rules are available by accessing the Board's website at
www.ncappraisalboard.org and clicking on the rules. All supervising appraisers
and registered trainees are encouraged to carefully read this rule and make sure
that its conditions are followed.
Requirements Regarding Instructor Videos
The North Carolina Appraisal Board has adopted Rules concerning requirements for
Instructors and Course Providers to submit videotapes of actual in class teaching of ap-
proved courses in prelicensing and continuing education.
Reference is made to Rule 21 NCAC 57B.0306 (d) which states that upon request of the
Board, an instructor or proposed instructor must submit to the Board a videotape in a man-
ner and format which depicts the instructor teaching portions of a prelicensing course spec-
ified by the Board. Also, reference is made to Rule 21 NCAC 57B.0606 (8) which states the
course sponsor must submit to the Board a videotape in a manner and format which
depicts the instructor teaching portions of any continuing education course specified by the
Board.
Upon the receipt of written information such as complaints or course evaluations
whereby the basic teaching skills of an instructor come under question and whereby there
are grounds to investigate whether an instructor is meeting the requirements as outlined in
57B.0606, the Board will be requested by legal counsel to exercise the options listed under
57B.0306 (d) and 57B.0606 (8) to request a videotape. The request from legal counsel to the
Board will consist of a brief written summary of information that documents the reason for
the requested action.
A committee consisting of two Board Members, the Executive Director and the Deputy
Director of Education may view the submitted data and make a recommendation to the full
Board of what action to take concerning the instructor. This recommendation may be (1) no
action required (2) send a letter of warning outlining noted inconsistencies with the require-
ments and (3) open a formal complaint and call the instructor and or provider to a hearing.
If the matter goes to a hearing, the Board Members who served on the committee may
hear the case. However, the instructor will be advised of the Board Members on the com-
mittee and may elect to not have these members participate in the hearing. Such an elec-
tion must be made in writing and presented to the Legal Counsel at least 5 calendar days
prior to the secheduled hearing.
Adopted by Board 6/16/04
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Published as a service to appraisers to promote a bet-
ter understanding of the Law, Rules and Regulations,
and proficiency in ethical appraisal practice. The arti-
cles published herein shall not be reprinted or repro-
duced in any other publication, without specific refer-
ence being made to their original publication in the
North Carolina Appraisal Board Appraisereport.
NORTH CAROLINA
APPRAISAL BOARD
Mailing Address:
P.O. Box 20500
Raleigh, North Carolina 27619-0500
Street Address:
3900 Barrett Drive, Suite 101
Raleigh, North Carolina 27609
Phone: 919/420-7920
Fax: 919/420-7925
Website:
www.ncappraisalboard.org
Email Address:
Michael F. Easley, Governor
APPRAISAL BOARD MEMBERS
Henry E. Faircloth
Chairman . . . . . . . . . . . . . . . . . . . . . Salemburg
Earl M. Worsley, Jr.
Vice-Chairman . . . . . . . . . . . . . . . . Wilmington
Bart Bryson . . . . . . . . . . . . . . . . . Hendersonville
Charles K. Hinnant . . . . . . . . . . . . . . . . . . . Kenly
E. Ossie Smith . . . . . . . . . . . . . . . . . . . . . . Oxford
J. Vance Thompson . . . . . . . . . . . . . . . . . . . Elkin
Larry N. Wright . . . . . . . . . . . . . . . . . . . . Candler
STAFF
Philip W. Humphries, Executive Director
Roberta A. Ouellette, Legal Counsel
Matthew W. Green, Deputy Director
Donald T. Rodgers, Deputy Director
Donna K. Krites, Investigator
Preston “Buddy” Tucker, Investigator
Kim N. Giannattasio, Administrative Assistant
Lynn White, Appraiser Secretary
Paula Ford, Appraiser Clerk
APPRAISER COUNT
(As of August 5, 2004)
Trainees . . . . . . . . . . . . . . . . . . . . . . . . . . . 1099
Licensed Residential . . . . . . . . . . . . . . . . . . . 361
Certified Residential . . . . . . . . . . . . . . . . . . 1787
Certified General . . . . . . . . . . . . . . . . . . . . . 907
Total Number . . . . . . . . . . . . . . . . . . . . . . . 4154
APPRAISER
EXAMINATION RESULTS
February - June 2004
Examination Total Passed Failed
Trainee 211 156 55
Licensed Residential 32 26 6
Certified Residential 66 34 32
Certified General 11 7 4
Examinations are administered by a national testing
service. For information, please contact the North
Carolina Appraisal Board in writing at
P.O. Box 20500, Raleigh, NC 27619-0500.
The Appraiser Qualifications Board
(AQB) is an independent board of The
Appraisal Foundation. The provisions of
Title XI of the Financial Institutions
Reform, Recovery and Enforcement Act
of 1989 mandates that the AQB establish
minimum education, experience and
examination requirements for real
property appraisers to obtain a state
certification.
States are required to implement
appraiser certification requirements that
are no less stringent than those issued
by the AQB but may adopt more strin-
gent requirements. The AQB has made
major changes in the education
requirements for licensed residential,
certified residential and certified general
appraisers that the North Carolina
Appraisal Board must adopt.
The following charts illustrate the
qualifying education and formal educa-
tion requirements that currently exist
and the new requirements.
The date the new requirements
become effective is January 1, 2008.
This beginning date has been interpret-
ed by the AQB to mean that an applicant
must meet this new criteria to qualify to
take an exam after January 1, 2008. The
main key to remember is that if you have
not passed the exam for the applied for
classification of licensure by January 1,
2008, you must meet the new education
requirements.
If an applicant has met the existing
requirements and has been issued an
exam ticket in say mid 2007 and takes the
exam in November 2007 but fails, waits
the required minimum of 30 days and
takes the exam in December 2007 but
fails a second time, the applicant will be
required to meet the new requirements
and not allowed to take the exam after
January 1, 2008 until the new require-
ments are met. In this scenario, the
applicant would be required to add the
additional hours of qualifying education
and also have the minimum formal edu-
cation requirements to qualify to take the
exam.
Remember, the education require-
ments that must be met to qualify to take
an exam are based on the exam date and
not the application date or the date of
the exam approval
form.
The Board real-
izes that it takes a min-
imum of two calendar
years of experience
for certified residen-
tial and two and one-
half calendar years of
experience for certi-
fied general and that
the process of obtain-
ing both experience
and education take a
considerable period
of time. Therefore,
every effort will be
made to have in place
the required course
curriculum for the
new qualifying educa-
tion requirements by
July 1, 2005. It is antici-
pated that the existing
R-1, R-2 and R-3 cours-
es and also the exist-
ing G-1, G-2 and
G-3 courses will remain the same. The
licensed residential will require that 60
hours be added, certified residential will
require 80 hours be added and certified
general will require 120 hours be added.
Courses with approved course content
to meet the AQB requirements are a top
priority for these additional required
hours so that Board approved course
sponsors and schools will have time to
add and implement these changes.
Appraisers with current licensure or
certification before January 1, 2008 will
not be subject to these new require-
ments as long as you remain current and
in good standing with your licensure or
certification.
This is a drastic change from the
original criteria adopted by the AQB in
March 1991 and revised in 1998 to add
the 15-hour USPAP course. The Board
will continue to provide timely informa-
tion and work with course sponsors,
schools and approved instructors to
bring about this required change in a
systematic manner.
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New Education Requirements
Formal Education
Existing New
Registered Trainee None None
Licensed Residential None None
Certified Residential None *Associates Degree or 21
semester hours of
required courses
Certified General
None *Bachelors Degree or 30
semester hours of
required courses
* Degree or courses must be from an accredited college, junior
college, community college or university. The 21 or 30 semes-
ter hours are core curriculum courses specifically stipulated in
English, economics, finance, math, computers and
business/real estate law.
The Board just completed the
renewals for the 2004-2005 cycle and
you should have received your new
pocket card provided you sent your
renewal form with proper payment in
on time. No continuing education was
required to renew for this cycle; but
remember to renew next year by June
30, 2005, you must have completed 28
hours of approved education with 7 of
the 28 hours being the National 7-
Hours USPAP Update or equivalent.
You may go to the Board web site at
www.ncappraisalboard.org and
click in the left margin under apprais-
ers only to access your record which
will indicate the current hours of edu-
cation you have been credited. This
data is updated monthly at the end of
the month. Remember that your pin
number is the last four digits of your
social security number. You are
encouraged to plan ahead in obtaining
the required 28 hours and not wait
until the last few months. Approved
continuing education courses are also
available from the website by clicking
in the left margin under education.
This is your responsibility and no
notices will be sent to you concerning
other education credits.
Renewal
Information
Qualifying Education
Existing New
Registered Trainee 90 Hours 90 Hours
Licensed Residential 90 Hours 150 Hours
Certified Residential 120 Hours 200 Hours
Certified General 180 Hours 300 Hours
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JOSH TUNNELL, JR.
P.O. Box 554
Elizabeth City, NC 27907-0554 (252) 335-5219
National USPAP Update (7/7)
Working with Underwriters (7/7)
ALAMANCE COMMUNITY COLLEGE
P.O. Box 8000
Graham, NC 27253 (336) 578-2002
Appraising Small Residential Income
Properties (10/10)
Intro to Commercial Real Estate (4/4)
New Exstg Residential Codes Affecting
RE Appr (10/10)
Real Estate Finance (4/4)
ALLEN TATE SCHOOL OF REAL ESTATE
—A DAN MOHR SCHOOL
6632 Fairview Road
Charlotte NC 28210 (704) 362-2296
Mfg/Mod Homes & Real Property (7/7)
National USPAP Update (7/7)
New Rules & Regs FHA/HUD (14/14)
Residential Construction Seminar (14/14)
Staying Out of Trouble – NC Ap (7/7)
ALLSTATE HOME INSPECTION TRAINING INSTITUTE
Route 1, Box 130
Randolph Center, VT 05061 (800) 245-9932
Environmental Awareness Seminar (8/8)
FHA Test Preparation (8/8)
Introduction to Home Inspection (8/8)
USPAP Refresher (8/8)
AMERICAN SCHOOL OF REAL ESTATE APPRAISERS
P.O. Box 275
Cherryville, NC 28021 (704) 435-1111
National USPAP Update (15/15)
AM SOC FARM MANGRS & RURAL APPRAISERS
950 S. Cherry Street, Suite 508
Denver, CO 80222 (303) 758-3513
A-12 Part 1 ASFMRA Code of Ethics (7/7)
A-12 (III) National USPAP Update (7/7)
Eminent Domain A-25 (19/19)
Highest & Best Use A-29 (15/15)
Advanced Appraisal Review A-35 (49/30)
Advanced Resource Appraisal A-34 (30/30)
Appraising Agricultural Land in Transition (8/8)
Appraising Broiler Grower Far (16/16)
Appraising Rural Residential Properties (15/15)
Rural Business Valuation (16/16)
Yllw Bk—Uniform Standards for Fed Land Acq (8/8)
AM SOCIETY OF APPRAISERS NC CHAPTER
159 Lake Ellen Drive
Chapel Hill, NC 27514 (919) 942-2544
National USPAP Update (7/7)
The Appraisal of Small Subdivisions (7/7)
Using Marshall & Switf/Res Prop (7/7)
APPRAISAL ACADEMY (THE)
3802 N. University Street
Peoria, IL 61614 (309) 681-8100
Limited Res Appr Assignment (4/4)
APPRAISAL INSTITUTE
550 W. Van Buren Street, Suite 1000
Chicago, IL 60607 (312) 335-4236
320 General Applications (39/30)
330 Apartment Appr: Cncpts & (14/14)
400 National USPAP Update (7/7)
410 National USPAP (15/16)
420 Business Practice and Ethic (7/7)
500 Adv Res Form & Narrative (40/30)
520 High & Best Use & Mkt Anal (40/30)
530 Adv Sales Comp & Cost Appr (40/30)
600 Inc Val of Sm Mixed-Use Prop (15/15)
610 Cst Val of Sm Mixed-Use Prop (15/15)
620 Sls Comp Val Sm Mixed-Use (15/15)
700 Appraisers as Expert Witness (15/15)
705 Litigation Appr: Spclzd Topics & (16/16)
710 Condemnation Appr: Basic Prin & (15/15)
720 Condemnation Appr: Adv Topics & (15/15)
800 Separating Real & Personal (15/15)
810 Computer-Enhanced Cash F (15/15)
Analyzing Commercial Lease c (7/7)
Appr Consulting: A Solutions Appr (7/7)
Appraising Manufactured Housing (7/7)
Appraising the Tough Ones (7/7)
Avoiding Liability as a Residential Appraiser (7/7)
Energy Prfrmnc & Commc Prpr (7/7)
Gen Demo Appr Rpt Writing Sem (7/7)
Intro to Income Capitalization (7/7)
Mathematically Modeling Real Est (7/7)
O/L 320: General Applications (7/7)
O/L Analyzing Distressed RE (4/4)
O/L Analyzing Operating Expen (7/7)
O/L Appraisal of Nursing Facilities (7/7)
O/L Appraising from Blueprints (7/7)
O/L Feasibility, Mkt Value, Investment (7/7)
O/L Internet Search Strategies for R (7/7)
O/L Intro to GIS Apps for RE App (7/7)
O/L Overview of RE Appr Princip (7/7)
O/L Res Design & Functional Uti (7/7)
O/L Res Property Construction & In (7/7)
O/L Sm Hotel/Motel Val: Lmtd S (7/7)
O/L The FHA and the Appr Proce (7/7)
O/L Using Your HP12C Financial (7/7)
O/L Val of Detrimental Conditions (7/7)
Rd Less Traveled: Spcl Purpose Pr (7/7)
Res Demo Appr Report Writing S (7/7)
Scope of Work: Expanding Range (7/7)
APPRAISAL INSTITUTE, NC CHAPTER
2306 W. Meadowview Road, Suite 101
Greensboro, NC 27407 (336) 297-9511
Appraising in NC (4/4)
New Tech for RE Appr: Cool Tools (4/4)
APPRAISAL.COM
334 Harris Hill Road
Buffalo, NY 14221 (716) 633-2428
NOVA for Appraisers (7/7)
ASHEVILLE-BUNCOMBE TECH CC
340 Victoria Road
Asheville, NC 28801 (828) 254-1921
National USPAP Update (7/7)
PDH RE - Basic Surveying (5/5)
The UDO: Regulating RE Use & Dev (4/4)
BILL GALLAGHER SCHOOL OF REAL ESTATE
380 Knollwood Street, Suite 420
Winston-Salem, NC 28103 (888) 778-1245
Intro to Residential RE Investment (7/7)
The Appraiser As An Expert Witness (7/7)
BOB IPOCK & ASSOCIATES, INC.
1218 Heatherloch
Gastonia, NC 28054 (704) 807-1985
National USPAP Update (8/8)
BRUNSWICK COMMUNITY COLLEGE
P.O. Box 30
Supply, NC 28462 (910) 754-6900
Manufactured Homes (7/7)
CARTERET COMMUNITY COLLEGE
3505 Arendell Street
Morehead City, NC 28557 (252) 222-6127
Mold Inspectionas & Remediation (4/4)
CCIM INSTITUTE
430 N Michigan Avenue, 8th Floor
Chicago, IL 60611-4092 (312) 321-4473
C1101 Fin Analysis Comm Invest (30/30)
C1102 Market Analysis Comm In (30/30)
C1103 User Decision Analysis Comm (30/30)
C1104 Invest Analysis Comm Inv (30/30)
Introduction to Com Investment RE An (12/12)
CLARK REALTY SEMINARS
P.O. Box 61083
Virginia Beach, VA 23462 (888) 316-7182
National USPAP Update (7/7)
RE Environmental Concerns (7/7)
CLE INTERNATIONAL
1620 Gaylord Street
Denver, CO 80206 (303) 377-6600
Eminent Domain (13/13)
DAN MOHR RE SCHOOLS
1400 Battleground Avenue, Suite 150
Greensboro, NC 27408 (800) 639-9813
Depreciation Workshop (7/7)
Environmental Hazards-Residential Prop (7/7)
Extraction of Data from Market Res (7/7)
HP 12C Course (7/7)
Intro to Residential Construction (30/30)
Mfg/Modular Homes & Real Property Appr Review (7/7)
National USPAP Update (7/7)
Res Appr & Conventional Underwriting Guide (7/7)
Residential Construction Cost (7/7)
Residential Construction Seminar (14/14)
Rules & Regs FHA/HUD Requirements (14/14)
Staying Out of Trouble – NC Ap (7/7)
The Narrative Appraisal Report (7/7)
Using Streamlined Appraisal Report Forms (7/7)
DUKE UNIVERSITY
A108B LSRC/Box 90328
Durham, NC 27708 (919) 613-8082
What’s it Worth - Forest Appraisal (36/30)
DYNASTY SCHOOL
2373 S. Hacienda Boulevard
Hacienda Heights, CA 91745 (800) 888-8827
National USPAP Update (7/7)
EDGECOMBE CC
225 Tarboro Street
Rocky Mount, NC 27801 (252) 446-0436
Appraising Manufactured, Modular &
Mobile (A) (7/7)
Appraising Manufactured, Modular &
Mobile (B) (7/7)
Cost Appr Marshall & Swift Res & Co (7/7)
Income Capitalization (14/14)
Income Capitalization (A) (7/7)
Income Capitalization (B) (7/7)
Manufactured, Modular & Mobile (4/4)
Narrative Appraisal Report Writing (14/14)
National USPAP Update (7/7)
Pricing Small Income Properties (4/4)
Principles & Techniques Val 2-4 Units
Res Prop (14/14)
Real Estate Finance for Appraisers (14/14)
Rural Valuation Seminar (14/14)
Single Family Residential Appraisal (14/14)
Standards of Professional Practice (15/15)
USPAP & NC Board Rules & Regs For (15/15)
Approved Continuing Education Courses
(As of August 5, 2004)
Listed below are the courses approved for appraiser continuing education credit as of date shown above. Course sponsors are listed alphabetically with their
approved courses. Shown parenthetically beside each course title are sets of numbers [for example: (15/10)]. The first number indicates the number of actual
classroom hours and the second number indicates the number of approved continuing education credit hours. You must contact the course sponsor at the
address or telephone number provided to obtain information regarding course schedules and locations.
EMPLOYEE RELOCATION COUNCIL
1717 Pennsylvania Avenue NW #800
Washington, DC 20006-4665 (202) 862-4236
Relocation Appr Training Prog (6/6)
FOUNDATION OF RE APPRAISERS
2140 W. Chapman Avenue #107
Orange, CA 92868 (714) 935-1161
National USPAP Update (7/7)
HIGNITE TRAINING SERVICE
208 Gloria Street
Greenville, NC 27858 (252) 756-7288
Appraisal FAQ’s (14/14)
National USPAP Update (7/7)
The Review and The Reviewer (7/7)
INSTITUTE OF GOVERNMENT, UNC CHAPEL HILL
Knapp Building, CB#3330
Chapel Hill, NC 27514 (919) 966-4157
Appr of Commercial Prop in a
Declining Market (7.5/7)
Appraisal of Land (30/30)
Assessment Administration (30/7)
Fundamentals of Assessment Ratio Studies (16/16)
Fundamentals of Mass Appraisals (30/30)
IAAO 101: Fundamentals of Real Prop (30/30)
IAAO 102: Inc Approach to Valuation (30/30)
Income Approach to Valuation II (30/30)
Marshall & Swift – Commercial (13/13)
Principles & Techniques of Cadestral Mapping (30/30)
Residential Modeling Concepts (30/30)
INTERNATIONAL RIGHT OF WAY ASSOCIATION
19750 S. Vermont Avenue, Suite 220
Torrance, CA 90502-1144 (213) 538-0233
103 Ethics & Right of Way Profession (8/8)
403 Easement Valuation (8/8)
801 Land Titles (10/10)
JOHNSTON CC
P.O. Box 2350
Smithfield, NC 27577 (919) 934-3051
Appraisal 2004 (7/7)
I’ve Got This House (7/7)
Manufactured Homes (7/7)
National USPAP Update (7/7)
LENOIR CC
P.O. Box 188
Kinston, NC 28502-9946 (252) 527-6223
Appraising Manufactured, Modular, &
Mobile (A) (7/7)
Appraising Manufactured, Modular, &
Mobile (B) (7/7)
Challenging the Appraisal (4/4)
Cost Approach Marshall & Swift (7/7)
Income Capitalization (A) (7/7)
Income Capitalization (B) (7/7)
Maximizing Value (4/4)
National USPAP Update (7/7)
NC Rules & Regulation Update (7/7)
Pricing Complex Properties (4/4)
Pricing Small Income Properties (4/4)
Principles/Techniques Val 2-4 Unit
Residential (14/14)
USPAP & NC Rules & Regulations for App (15/15)
M CURTIS WEST
P.O. Box 947
Zebulon, NC 27597 (919) 217-8040
USPAP 2002/2003 (7/7)
M
CKISSOCK APPRAISAL SCHOOLS
P.O. Box 1673
Warren, PA 26365 (814) 723-6979
2-4 Family Finesse: Appraising Multi-
Family Properties (7/7)
Appr For the Secndary Market (7/7)
Appraising High Value Residential
Properties (7/7)
Appraisal Review (7/7)
Appraiser Liability (7/7)
Appraising the Oddball (7/7)
Does My Report Comply with USPAP? (7/7)
Legal Issues for Appraisers (7/7)
Lmtd Apprs & the Scope of Wk D (7/7)
Made in America: Apprising Factory
Built Housing (7/7)
National USPAP Update (7/7)
National USPAP (15/15)
O/L Appr for the Secondary Market (7/7)
O/L Appraiser Liability (7/7)
O/L Construction Details & Trends (7/7)
O/L Factory-Built Housing (7/7)
RE Damages: Assessment & Testi (7/7)
Real Estate Fraud & Appraiser’s Role (7/7)
Residential Construction (7/7)
MEL BLACK
P.O. Box 459
Cherryville, NC 28021 (704) 435-0753
Board Rules and Laws (7/7)
Trainees & Supervisors (7/7)
MINGLE SCHOOL OF REAL ESTATE
P.O. Box 35511
Charlotte, NC 28235 (704) 372-2984
Is This A Commercial Appraisal? (4/4)
NC RE Appr Act & Appraisal Board Rules (4/4)
Role of the Supervisory Appraiser (4/4)
MOULTRIE B. WATTS
P.O. Box 447
Cary, NC 27512 (919) 851-2100
National USPAP Update (7/7)
NAIFA
7501 Murdoch Avenue
St. Louis, MO 63119 (314) 781-6688
1.2 Dfndng, Dcmntng & Spprtng (4/4)
1.4B Commercial Report Writing (15/15)
11.8A Calculating Gross Living Area Using (7/7)
15.0 Intro to Automated Valuation
Model Tech Seminar (4/4)
15.1 Environmental Concerns Seminar (4/4)
16.0A Understanding Legal Des (4/4)
16.2C Appraisal of Foreclosure (4/4)
2.0 Financial Analysis Inc Property (15/15)
4.7B Preparing Your Listing for FHA (4/4)
5.0 National USPAP Update (7/7)
5.3 Scope of Work (8/8)
9.7 Fannie Mae Updated Prop & A (8/8)
9.7A Fannie Mae Update (4/4)
99.1A Fraud, Flip and the FBI (4/4)
99.7A Blue Print Reading Seminar (4/4)
Mobile/Manufactured Home Re (8/8)
NC RE EDUCATION FOUNDATION (NCAR)
4511 Weybridge Lane
Greensboro, NC 27407 (800) 443-9956
Legal Issues in Real Estate (7/7)
National USPAP Update (7/7)
Residential Construction (7/7)
Residential Real Estate as an Investment (7/7)
Tax Planning for the Real Estate Agent (7/7)
NCDOT
1605 Westbrook Plaza Drive, Suite 301
Winston-Salem, NC 27103 (336) 760-1925
Appr Board Speaks to You/Ct Rm Eti (7/7)
Appraisal of Residue & Special Use
Properties (7/7)
National USPAP Update (7/7)
NC Rules & Regulations – USPAP Update/
Avd Ltg (7/7)
Revisiting the Cost Approach & Recurring
Errors (7/7)
Sales Comp Grid/Appr of Trans (7/7)
NCSU FORESTRY ED OUTREACH PROGRAM
Campus Box 8003
Raleigh, NC 27695 (919) 515-3184
Accurate Forest Inventory (16/16)
Applied Intermediate GIS – Foresters (15/15)
Conservation Design: Greener Comm (14/7)
Dlntn of Pdmnt & Cstl Pln Jrsd (30/30)
Introduction to Applied GIS—Foresters (15/15)
Introduction to Applied GPS—Foresters (13/13)
NCSU SOIL SCIENCE DEPT
Campus Box 7619
Raleigh, NC 27695 (919) 513-1678
Basics of On-Site Sewage (7/7)
Getting the Dirt on Soils (7/7)
On-Site System Tech Refresh (7/7)
Septic System Options for Diff (14/14)
Wastewater in the Environment (7/7)
Wells & Septic Systems (4/4)
REALETECH.COM
4819 Drummond Drive
Wilmington, NC 28409 (910) 352-9693
National USPAP Update (7/7)
STACEY P. ANFINDSEN
1145-E Executive Circle
Cary, NC 27511 (919) 460-7993
Appraisal Process and Val of
Residential Prop (4/4)
National USPAP Update (7/7)
Smry Frm Rptng & Cmplnce W U (4/4)
SURRY CC
P.O. Box 304
Dobson, NC 27017 (910) 386-8121
Fannie Mae Updated Prop & App (8/8)
Home Inspections & Common De (4/4)
Is the Comparable Comparable (8/8)
Mobile Mfg Homes & Types of M (4/4)
National USPAP Update (7/7)
Reviewing a Residential Appraisal (8/8)
Testing Highest & Best Use (8/8)
T H HUNTER & ASSOCIATES, INC.
1908 Sterling Road
Charlotte, NC 28209 (704) 372-5855
Appraiser as an Expert Witness (7/7)
Intro to Res RE Investment (7/7)
Land, Res & Com Investment St (7/7)
Understanding Appraiser Liability (7/7)
TRIANGLE APPRAISAL & REAL ESTATE SCHOOL
4024 Barrett Drive #204
Raleigh, NC 27609 (919) 782-2084
Manufactured Home Construction (7/7)
National USPAP Update (7/7)
North Carolina Rules (7/7)
WENDELL HAHN & ASSOCIATES
P.O. Box 245
Columbia, SC 29250 (803) 779-4721
Appraisal Update (7/7)
FHA Guidelines 2001 (7/7)
National USPAP Update (7/7)
Property Inspection for the App (7/7)
The Modern Appraisal Office – Part I (7/7)
The Modern Appraisal Office – Part II (7/7)
Tools or Toys – Technology For (7/7)
WESTERN PIEDMOND COMMUNITY COLLEGE
1001 Burkemont Avenue
Morganton, NC 28655 (828) 438-6104
Appraising Manufactured, Modular & Mobile (14/14)
Income Capitalization (A) (7/7)
Income Capitalization (B) (7/7)
Maximizing Value (4/4)
Manufactured, Modular & Mobile (7/7)
National USPAP Update Course (7/7)
Pricing Complex Properties (4/4)
USPAP & NC Rules and Regulations for App (15/15)
5
Approved Continuing Education Courses
6
Jack Baber (Asheville)—By
consent, the Board suspended Mr.
Baber’s residential certification for a
period of 6 months, effective April 15,
2004. The first 30 days of the suspen-
sion are active, and the remainder is
inactive. Mr. Baber is also required to
take and satisfactorily complete a
course in Appraiser Liability and a
course in How to Supervise a Trainee.
The Board found that Mr. Baber and a
trainee under his supervision ap-
praised a property located in Etowah,
NC in June 2002, finding an appraised
value of $143,900. The property was a
20-year-old 1372 square foot ranch
with vinyl siding. Mr. Baber received
an appraisal order on which it was
indicated that the customer estimated
value at $144,000. Mr. Baber did not
use any comparable sales from within
the subject subdivision, and his near-
est comparable sale was 2.62 miles
from the subject. All comparable
sales were in a superior location. Mr.
Baber indicated that he did not use
neighborhood sales because of the
size difference between them and the
subject, but there were at least 2
neighborhood sales that were closer
in size to the subject than the sales
selected by Mr. Baber. Of the five
comparable sales within the neigh-
borhood, the highest purchase price
was $83,500.
Berthadale Best (Surf City)—By
consent, the Board suspended Ms.
Best’s residential certification for a
period of 6 months, which shall be
inactive since she completed the 15-
hour National USPAP course and a
course in Sales Comparison. The
Board found that Ms. Best appraised
a property located in Jacksonville, NC
in February 2003, finding an ap-
praised value of $92,000. The subject
property is located in a subdivision
that has a newer section and an older
section. The older section predomi-
nantly consisted of brick/sided one-
story homes approximately 40 years
of age. The subject property is locat-
ed in the older section of the subdivi-
sion; it is a forty-two (42) year old
home with a GLA of 1,180 square feet.
It does not have a garage or fireplace.
Ms. Best used four comparable sales
in her appraisal report. Sale Nos. 1, 3
and 4 were located in the newer area
of the subdivision. She made adjust-
ments to her comparables sales for
garages and for fireplaces, none of
which were supported by any docu-
mentation in her work file. Those
homes were larger in GLA. The only
comparable sale used by Ms. Best
which was similar to the subject both
in age and size was Sale No. 2, which
was forty-two years of age and had
1,025 square feet. Sale No. 2 sold for
$79,500.
Bryan Bishop (Clemmons)—By
consent, the Board suspended Mr.
Bishop’s residential certification for a
period of two and a half years effec-
tive July 1, 2004. If Mr. Bishop takes
three courses by July 5, 2005, only the
first year of the suspension will be
active. Mr. Bishop stipulated that dur-
ing 2000 and 2001, he performed
appraisals of three residential prop-
erties in Forsyth County, North
Carolina. One of the properties was a
four-unit residence converted from a
single family home built in 1915. Mr.
Bishop prepared his appraisal report
on a form designed for the appraisal
of single-family homes. In his report,
Mr. Bishop incorrectly identified the
nonconforming nature of the use of
the property as legal under the zon-
ing code. He identified a number of
sales as comparable to the subject,
but failed to make correct adjust-
ments when comparing those sales to
the subject. The other two properties
were single-family residences. In con-
nection with his appraisals of those
properties, Mr. Bishop was aware of
recent or impending sales of the sub-
jects, but failed to report those sales
accurately in his reports. He also
failed to analyze those sales. He iden-
tified comparable sales for each prop-
erty but failed to make full and accu-
rate adjustments for the differences.
In addition, he failed to discover,
identify and analyze other sales clos-
er to the subjects. In each of his three
appraisals, Mr. Bishop reported an
opinion of value that was unreliable
based upon the data reported and
analyzed in his appraisals.
Edmund J. Frank (Charlotte)—
By consent, the Board accepted the
permanent voluntary surrender of
Mr. Frank’s residential certification
Richard M. Perkins (Ashe-
ville)—By consent, the Board sus-
pended Mr. Perkins’ trainee registra-
tion for a period of 6 months effective
April 15, 2004. The first 30 days of the
suspension are active, and the
remainder is inactive. Mr. Perkins is
also required to take and satisfactori-
ly complete a course in Appraiser
Liability and the 15-hour national
USPAP course within 6 months of the
effective date of the Consent Order.
The Board found that Mr. Perkins and
a trainee under his supervision ap-
praised a property located in Etowah,
NC in June 2002, finding an appraised
value of $143,900. The property was a
20-year-old 1372 square foot ranch
with vinyl siding. Mr. Perkins re-
ceived an appraisal order on which it
was indicated that the customer esti-
mated value at $144,000. Mr. Perkins
did not use any comparable sales
from within the subject subdivision,
and his nearest comparable sale was
2.62 miles from the subject. All com-
Disciplinary Actions
The following is a summary of recent disciplinary actions taken by the Appraisal Board. This is only a summary; for brevity, some of the facts
and conclusions may have not been included. Because these are summaries only, and because each case is unique, these summaries should
not be relied on as precedent as to how similar cases may be handled.
7
parable sales were in a superior loca-
tion. Mr. Perkins indicated that he did
not use neighborhood sales because
of the size difference between them
and the subject, but there were at
least 2 neighborhood sales that were
closer in size to the subject than the
sales selected by Mr. Perkins. Of the
five comparable sales within the
neighborhood, the highest purchase
price was $83,500 for a structure of
1300 square feet.
Susan Picado (Charlotte)—By
consent, the Board suspended Ms.
Picado’s trainee registration for a
period of 2 years. The Board found
that Ms. Picado, while working under
the supervision of a state-licensed
appraiser, performed an appraisal on
property located in Charlotte, NC in
August 2002, finding an appraised
value of $261,000. The appraisal was
subsequently reviewed with the re-
view appraisal reflecting a final value
of $140,000 as of October 23, 2002. Ms.
Picado indicated that she searched
the County GIS system for compara-
ble sales and identified 21 sales that
ranged in price from $155,000 to
$269,000. She typed up the appraisal
report prior to receiving a copy of the
sales contract, and then inserted the
sales price that was stated to be
$132,500, completed the appraisal and
delivered it to the client. The client
provided Ms. Picado with a revised
sales contract a few days later that
stated a sales price for the same prop-
erty of $261,000. The client asked Ms.
Picado to “correct” the appraisal.
Based on the sales price, Ms. Picado
changed the comparable sales to
reflect only those sales which were at
the higher end of the range and which
would support the purchase price of
the property. The subject property
was listed for sale from March 15,
2002 to July 16, 2002 for $149,500 and
was withdrawn. The property was re-
listed with a different broker on July
16, 2002 for $144,500. A sales contract
was signed on or about August 13,
2002 and sold on September 17, 2002
for $132,500. Ms. Picado did not
include any references to the prior
listings on the appraisal performed
on August 23, 2002. She used sales
that were not comparable to the sub-
ject. In the appraisal report, Ms.
Picado stated that the value deter-
mined by cost approach was $126,239,
and by the sales comparison ap-
proach was $261,000. She stated in the
report that “the cost approach sup-
ports the indicated value derived”.
There were other sales available that
were all located on the same street as
the subject property; all sold in 2002
and were available for use as sales or
pending transactions at the time of
the appraisal. Ms. Picado subsequent-
ly admitted that the property would
be more accurately valued at $155,000
to $165,000.
Viviree P. Scotton (Durham)—
By consent, the Board suspended Ms.
Scotton’s residential certification for a
period of 6 months. The suspension
shall be inactive if she takes a 7 hour
Sales Comparison Class and a 7 hour
Property Inspection class. The Board
found that Ms. Scotton performed an
appraisal of a property located in
Cary, NC in September 2003, finding
an appraised value of $855,000. The
subject was under contract for
$850,000 at the time of the appraisal,
although there is no evidence that the
sale closed. Ms. Scotton included the
basement level square footage in the
above grade square footage. The sub-
ject was marketed at 2,730 square feet
with 1,172 square feet of basement of
area. There were other sales in the
subject neighborhood that were more
similar to the subject but were not
used.
Disciplinary Actions
Donna K. Krites has been em-
ployed by the Board as a new
Investigator. A native of Reidsville,
Ms. Krites graduated from the
University of North Carolina at
Greensboro with a bachelor’s degree
in information systems. She is a State-
Certified General appraiser.
Before joining the Board staff, Ms.
Krites was employed by the North
Carolina Depart-
ment of Transpor-
tation as a staff
appraiser. Prior
to that, Ms. Krites
was associated
with Stan Harper
and Associates in
Reidsville as a
residential appraiser. She comes to the
Board with eleven years of full-time
appraisal experience.
Preston “Buddy” Tucker has been
employed by the Board as a new
Investigator. A native of Wake County,
Mr. Tucker attended Wake Tech
Community College and Chowan
College. He was a certified police offi-
cer for over twen-
ty years and is a
State-Certified
R esidential
appraiser.
Before join-
ing the Board
staff, Mr. Tucker
owned and
operated Tucker
Appraisal Services in Cary and has
worked as an appraiser with other
firms since 1990. He comes to the
Board with fourteen years of ap-
praisal experience.
In their new positions, both will
be responsible for processing com-
plaints against appraisers by examin-
ing appraisal reports and performing
field investigations. They also will be
conducting unannounced audits of
appraisers and their files.
New Investigators Employed
Donna K. Krites
“Buddy” Tucker
Application Fee $150
Temporary Permit $150
License History $10
Equivalent Continuing Education $50
Original Continuing Education Course $100
Annual Renewal Fee for Licensees $200
Late Filing Fee (monthly) $5
Original Equivalent Qualifying Trade $300
Renewal Fee - Trade Organization $50
Prelicensing Private School $40
Renewal Fee - Private Schools $20
Renewal Fee - CE Course $50
Reinstatement $150
Returned Check Fee $20
National Registry $45
Licensee Roster $10
Licensee Roster by County $5
Duplicate Certificates, pocketcards $5
Instructor Training Video $150
Fees are waived for Community Colleges, State and Federal Agencies
8
NORTH CAROLINA
APPRAISAL BOARD
P.O. Box 20500
Raleigh, NC 27619-0500
4,500 copies of this document were printed at a cost of $.29 per copy.
PRESORTED STD
U.S. Postage
PAID
Permit No. 1978
RALEIGH, NC
North Carolina Appraisal Board Fee Schedule
2004-2005
