QUALIFICATIONS OF THE APPRAISER
MICHAEL TARNOW, MAI, SRA
Co-Owner and Founder of Northern Michigan Real Estate Consultants, Inc.
(formerly Michael Tarnow & Associates, P.C.)
State Certified General Real Estate Appraiser (State of Michigan) #1201000638
PROFESSIONAL DESIGNATIONS
- RM now SRA (Residential Member) Appraisal Institute since November 13, 1978 -#1223
- MAI (Member, Appraisal Institute) Appraisal Institute since September 22, 1989 - #8261
- State Certified General Real Estate Appraiser (State of Michigan) #120100638
- NAR Green Designation, as of August 13, 2010
Michael Tarnow has also successfully completed the Appraisal Institute's Professional Development Programs for the Valuation of Conservation Easements (2007) and Litigation (2010). He is included in the Appraisal Institute's Program's Registry located on the Appraisal Institute's website (www.appraisalinstitute.org). Completion of a program shows that participants have completed education and passed related course exams in the particular specialized topic.
REAL ESTATE & APPRAISAL EDUCATION
University of Michigan Extension
- Real Estate Business III
- Real Estate and the Government
- Real Estate Law
- Principles of Appraisal I (residential), Spring, 1975
- Principles of Appraisal II (commercial), Spring, 1976
Appraisal Institute Classes
- Single-Family Residential Appraisal, Course VIII, 1976
- Basic Appraisal Principles, Methods & Techniques, Class I-A, 1977 (Successful Challenge)
- Capitalization Theory & Techniques, Class I-B, 1979 (Successful Challenge)
- Litigation Valuation, February, 1980
- Case Studies in Real Estate Valuation, February 1984
- Valuation Analysis and Report Writing, March 1984 (Successful Challenge)
- Computer Assisted Investment Analysis, March, 1991
- Standards of Professional Practice, June, 1993
- Highest and Best Use and and Market Analysis, October, 1996
- Appraising Conservation Easements, October 2007
- Condemnation Appraising: Principles & Applications, Sponsored by Appraisal institute, June 2010, Grand Rapids, MI
- The Appraiser as an Expert Witness: Preparation & Testimony, November 2010 Flint, MI
Seminars
- Litigation Valuation, June, 1986
- Writing Methods and Techniques, August, 1986
- Advanced Lotus 1 2 3, September, 1986
- Managing and Financing Independent Business, February, 1987
- How To Fill Out A Single Family Uniform Residential Appraisal Report, April, 1987
- Federal Home Loan Bank Board Appraisal Guidelines, Class R41C, August, 1987
- Standards of Professional Practice Update, October, 1987
- Business Valuation, parts 1 & 2, April, 1988
- Comprehensive Appraisal Workshop, July, 1988
- Reviewing Appraisals, June, 1989
- Professional Standards Training, March, 1990
- Valuation of Leased Fee Interests, April, 1990
- Our Changing Environment, June, 1990
- Appraiser's Guide to the Small Residential Income
- Property Appraisal Report, June, 1990
- Our Changing Environment, Protecting Michigan's Wetlands and Sand Dunes, June, 1990.
- Appraisers Guide to the Small Residential Income Property Appraisal Report, June, 1990
- Rates, Ratios and Reasonableness, October, 1990
- Appraiser's Legal Liabilities, May, 1994
- Easement Valuation, May, 1994
- Computer Training for Appraisers, July, 1994
- Maximizing The Value Of An Appraisal Practice, September, 1994
- How to Sell Hot Commercial Real Estate, February, 1995
- Litigation, Expert Witness, May 1996
- Environment, Hazardous Materials, May 1997
- Standards of Professional Practice, Part C, April 1998
- Valuation of Partial Interests (divided & undivided), June 2000
- Symposium, Environmental & Property Damages: Standards, Due Diligence, Valuation & Strategy April, 2002
- Eminent Domain Conference, Sponsored by CLE, September 2002
- Law of Easements, Sponsored by Lorman Education Services, June 2003
- Uniform Appraisal Standards for Federal Land Acquisitions, Sponsored by AI, October 2003
- National Uniform Standards of Professional Appraisal Practice, Sponsored by ASA, December 2003
- Reducing Real and Personal Property Tax, Sponsored by Lorman Education Services, July 2004
- Real Estate Finance, Value, & Investment Performance, Sponsored by AI, May 2005
- Analyzing Distressed Real Estate, Sponsored by AI, May 2005
- Subdivision Valuation, Sponsored by AI, December 2005
- Eminent Domain National Conference, Sponsored by Eminent Domain Institute, May 2005, Las Vegas, NV
- Michigan Laws and Rules, Sponsored by Appraisal Institute, June 2007, Dearborn, MI
- 7 Hour National USPAP Course, Sponsored by Appraisal Institute, June 2007, Dearborn, MI
- Litigation Appraising: Specialized Topics and Applications, Sponsored by Appraisal Institute, May 2009, Grand Rapids, MI
- Michigan Economy 2009, Sponsored by Appraisal Institute, May 2009, Grand Rapids, MI
- Business Practices and Ethics, Sponsored by Appraisal Institute, June 2010, Flint, MI
PROFESSIONAL EXPERIENCE
- Entered Real Estate profession in 1968 as a salesperson
- Received Brokers License in 1970
- Worked in sales in Detroit until 1971
- Moved to Traverse City in 1971
- Worked for new home builder in sales until 1973
- Worked as a broker in general real estate sales office until 1975 (Started doing appraisal work at this time)
- Started working as an independent Fee Appraiser in 1975
PROFESSIONAL AFFILIATIONS
- Traverse Area Association of Realtors
- Michigan Association of Realtors
- National Association of Realtors
- Traverse City Multiple Listing Service
- Appraisal Institute
PARTIAL CLIENT LIST
- Michigan Department of Natural Resources
- Michigan Department of Transportation
- Federal Deposit Insurance Corporation
- Northwestern Bank
- PNC Bank - Michigan
- Fifth Third Bank
- Bank One
- Huntington National Bank
- Comerica Bank
- Employee Transfer Corporation
- City of Traverse City
- Traverse City Light & Power
- United States Department of Agriculture - Forestry Division
- United States Department of the Interior - National Park Service
- United States Coast Guard
MAJOR APPRAISAL ASSIGNMENTS IN THE FOLLOWING LOCATIONS: (partial List)
- Alpena
- Boyne City
- Cadillac
- Charlevoix
- Cheboygan
- Elk Rapids
- Gaylord
- Grand Rapids
- Grayling
- Kalamazoo
- Livonia
- Ludington
- Manistee
- Petoskey
- Rogers City
- Sault St. Marie
- Traverse City
Additional information on major appraisal assignments is available upon request.
QUALIFIED AS EXPERT WITNESS
- Grand Traverse County Circuit Court
- Grand Traverse County District Court
- Michigan Tax Tribunal
- Leelanau County District Court
- United States Bankruptcy Court
- Other Courts
MAI DESIGNATION
The MAI membership designation is held by appraisers who are experienced in the valuation and evaluation of commercial, industrial, residential and other types of properties, and who advise clients on real estate investment decisions.
The current requirements for the MAI designation are:
- Pass rigorous education requirements
- Pass a final comprehensive examination
- Submit specialized experience which must meet strict criteria
- Receive credit for a demonstration appraisal report
- Conduct his or her professional activities in accordance with the Appraisal Institute's Code of Professional Ethics and are subject to a peer review process, which enforces the Code of Professional Ethics
- Appraisal Institute MAI members are required to adhere to strict continuing education requirements to ensure they are up-to-date with the evolving real estate field.
SRA DESIGNATION
The SRA professional membership designation is held by real estate solutions providers who are experienced in the analysis and valuation of residential real property.
The current requirements for the SRA designation are:
- Pass rigorous education requirements
- Submit residential experience which must meet strict criteria
- Receive credit for a demonstration appraisal report
- Conduct his or her professional activities in accordance with the Appraisal Institute's Code of Professional Ethics and are subject to a peer review process, which enforces the Code of Professional Ethics
- Appraisal Institute SRA members are required to adhere to strict continuing education requirements to ensure they are up-to-date with the evolving real estate field.
The Appraisal Institute conducts a program of continuing education for its designated members. MAIs and SRAs who meet the minimum standards of this program are awarded periodic educational certification.
I am currently certified under this program.
The Appraisal Institute is the oldest organization of professional appraisers in the United States. The Appraisal institute is the result of the 1990 merger of the American Institute of Real Estate Appraisers and the society of Real Estate Appraisers. It is the largest organization of Real Estate Appraisers.
Founded in 1932, the Appraisal Institute has, during its 77-year history, attained a national reputation for professional service to the public. Courts, government agencies, lending institutions, developers and real estate brokers have relied upon - and in many cases sought out - reports prepared by appraisers who hold the MAI and RM designation. With the merger, the designations include the SRA, which is equivalent to the RM.
The Appraisal Institute has an intensive program designed to test knowledge, experience and judgment in the field of real estate appraising, and membership in the Institute is awarded only to those who have demonstrated their ability to meet these stringent requirements. These standards demand that a member have years of practical appraisal experience, pass extensive written tests, and submit numerous appraisal reports demonstrating the ability to render competent service to clients. Moral character, ethical conduct and professional services are always subject to review b the Appraisal Institute.
Over the years The Appraisal Institute has been a pioneer in the field of continuing appraisal education. It's first case study course was presented in 1935. Today, the Institute offers a series of thirteen different intensive one and two week courses ranging from basic appraisal principles and techniques to more technical subjects. It is also a major publisher of appraisal textbooks, monographs and periodicals.
All members must subscribe to the Institute's rigid Code of Ethics and Standards of Professional Conduct.
