QUALIFICATIONS OF THE APPRAISER
MICHAEL TARNOW, MAI, SRA, AI-GRS
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
- AI-GRS (General Review Specialist) Appraisal Institute since August 10, 2016 - #65975
- 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
- Fundamentals of Separating Real Property, Personal Property, and Intangible Business Assets, April 2012, Flint, Michigan
- Review Theory – General, June 2015, Chicago, IL
Seminars
- Seminars prior to 2000 are not shown.
- 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
- Michigan Laws and Rules, Sponsored by Appraisal Institute, May 2012, Grand Rapids, MI
- 7 Hour National USPAP Course, Sponsored by Appraisal Institute, May 2012, Grand Rapids, MI
- Marketability Studies: The Six-Step Process and Basic Applications, April 2013. Flint, MI
- 7 Hour National USPAP Course, Sponsored by Appraisal Institute, June 2014, Flint, MI
- Business Practices and Ethics, Sponsored by Appraisal Institute, June 2014, Flint, MI
- 2 Hours Michigan’s License Law, Sponsored by Appraisal Institute, June 2014, Flint, MI
- 7 Hour National USPAP Course, Sponsored by Appraisal Institute, May 2016, Grand Rapids, MI
- Capitalization Rates: Real World Applications Michigan, May 2016, Grand Rapids, MI
- Uniform Appraisal Standards for Federal Land Acquisitions; Practical Applications, April 2017, Chicago, IL
Webinars
- Wind Turbine Effects on Value, Sponsored by the Appraisal Institute, March 2015
- Yellow Book Changes – Overview for Appraisers, Sponsored by the Appraisal Institute, January 2017
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 (M-DNR)
- Michigan Department of Transportation (M-DOT)
- Federal Deposit Insurance Corporation (FDIC)
- Chemical Bank
- PNC Bank - Michigan
- Fifth Third Bank
- Bank One
- Huntington National Bank
- Comerica Bank
- 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
- Garfield Township, Grand Traverse County
- Chase Bank
- Melrose Township, Charlevoix County
- Leelanau County
- Grand Traverse County
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.
I am currently certified under this program.
AI-GRS Designation
By receiving the AI-GRS designation, I have joined an elite group of appraisers who have met rigorous professional requirements relating to education, testing, experience, understanding and ability. Also, designees agree to abide by the Appraisal Institute's Standards of Professional Appraisal Practice and Code of Professional Ethics.
The Appraisal Institute established a professional appraisal review designation program in response to the growing and critically important role that appraisal review plays in risk management and mitigation for many clients/users of appraisal services. The new designation program is aimed at providing professional appraisal reviewers with the knowledge and skills needed to satisfy issues related to due diligence and risk management often requested by their employers and clients
The Appraisal Institute is a global professional association of real estate appraisers, with nearly 22,000 professionals in almost 60 countries throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide. Organized in 1932, the Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws. Members, candidates, practicing affiliates and affiliates of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA, SRA, AI-GRS and AI-RRS designations. Visit our website at www.appraisalinstitute.org.
All members must subscribe to the Institute's rigid Code of Ethics and Standards of Professional Conduct.
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.
