Foster Real Estate Appraisers, Inc.

Commercial Investment, Real Estate Appraiser and Broker

Serving North and South Carolina since 1976


869 Sand Hill Road, Asheville, NC 28806

Phone: 828-670-8828               E-Mail:



Text Box: Qualifications of Mickey Foster, MAI, SRA, CCIM
Valuation and Real Estate Advisory Services

869 Sand Hill Road, Asheville, NC 28806
Phone 828-670-8828

Mickey Foster holds the “MAI” and “SRA” designations from the Appraisal Institute and the “CCIM” designation from the Commercial Investment Real Estate Institute. He has served as an instructor of real estate appraising courses at Southwest Missouri State University and has over 30 years of experience in appraising, leasing, acquisition, and disposition of income producing properties, and condemnation appraising. Mr. Foster has served on the National Review Committee of the Appraisal Institute and has been Chairman of the Candidate Guidance Committee for many years.

Area of specialization/services provided include:

industrial properties
cold stores (refrigerated warehouses)
Warehouses (bulk storage facilities)
commercial properties
fast food facilities
office buildings
shopping centers/retail
apartment complexes
large acreage tracts, forest, timberland, and Wetlands
condemnation assignments
Green Buildings
Appraisal Reviews
Professional Memberships
	General Certified Appraiser, North Carolina #A-1071 
	General Certified Appraiser, South Carolina #CG-1792 
	General Certified Appraiser, Montana #931
	Member of Appraisal Institute - "MAI" designation 
	Member of Appraisal Institute - "SRA" designation 
Member of Commercial Investment Real Estate Institute – “CCIM” designation 
	Member of Asheville Board of Realtors 
	Member of National Board of Realtors 
	North Carolina Real Estate Broker 
	National Review Committee for Appraisal Institute 
	Member of Hoot Owl Club 
	Member of International Association of Refrigerated Warehouses (IARW) 
	Member of The Refrigeration Research Foundation 
	Member of International Institute of Ammonia Refrigeration (IIAR) 
	Rotary Member, Austin, Texas 
	Elks Lodge, Springfield, Missouri 
	Member of International Right of Way Association (IRWA)

Educational Experience

	Mars Hill College, Mars Hill, North Carolina
	Degree: Bachelor of Science 
	Major: Mathematics 

	Housing and Urban Development, in Seattle, Washington, and Boise, Idaho
		Position: Staff Review Appraiser for Federal Housing Administration

	U. S. Postal Service in St. Louis, Missouri and in Springfield, Missouri
		Position: Realty Management and Acquisition Specialist. 
		Responsibilities: All real estate pertaining to the U. S. Postal Service in Missouri 			and southwest Kansas. Duties included lease negotiations, selling and 				acquisitions of land and 	facilities for conversion to post office, advertising and 			negotiating for new construction of postal facilities as well as miscellaneous 			duties pertaining to real estate including tax appeals. 

	Foster Real Estate Appraisers, Inc., Springfield, Missouri; Raleigh, North Carolina, and 	Asheville, North Carolina
Duties included mostly appraising of large acreage tracts, industrial and income properties throughout the southeastern United States. 

	Foster Refrigerated Warehouse Appraisers, Inc., Asheville, North Carolina 
		Position: Specializing in the appraisal of refrigerated warehouses (cold stores as 			know in Europe). Covering a national geographical area

	Southwest Missouri State University, Springfield, Missouri
		Position: Instructor of Real Estate Appraising 

	First Franklin Financial Group, Austin, Texas
		Position: Chief Appraiser - Consultant 

Educational Experience - Specialized
	American Institute of Real Estate Appraisers	
		Course IA: 	“Basic Appraisal Principles, Methods and Techniques” 
		Course IB:	“Capitalization Theory and Techniques” 
		Course II:	“Urban Properties”
		Course III:	“Rural Valuation”	
		Course IV:	“Condemnation”
		Course VI:	“Investment Analysis”
 		Course VII:	“Industrial Properties” 
		Valuation of Conservation Easements
		Advanced Spreadsheet Modeling for Valuation Applications
Uniform Appraisal Standards for Federal Land Acquisition (Yellow Book)
Uniform Standards of Professional Appraisal Practice - USPA
Hotel/Motel Valuation
Real Estate Finance, Value & Investment Performance
Commercial Appraisal Engagement & Review
Review Appraisals
Analyzing Distressed Real Estate
Valuation of Sustainable Buildings (Green Buildings)

Commercial Investment Real Estate Institute 
		Course CI-101: “Financial Analysis for Commercial Real Estate”
		Course CI-102: “Market Analysis for Commercial Real Estate”
 		Course CI-103:	“Market Analysis for Commercial Real Estate”
		Course CI-104:	“Market Analysis for Commercial Real Estate”
American Society of Appraisers 
		Course 201:	“Business Valuation”
		Course 202: 	“Business Valuation”

	The American Society of Farm Managers and Rural Appraisers
		Valuation of Conservation Easements & Other Partial Interest in Real Estate
		Uniform Appraisal Standards for Federal Land Acquisitions (Yellow Book)
		Yellow Book Review Appraisal

	Swamp School
		Wetland Delineation and Regional Supplemental Course

Western Forestry and Conservation Association
	Forest Land &Timber Appraisals
	Valuation of Conservation Easements & Other Partial Interest in Real Estate

International Institute of Ammonia Refrigeration (IIAR)
		“Industrial Refrigeration Workshop”

Example of Properties Appraised

The Grove Park Inn

Hampton Inn – Airport, Brevard Rd., Tunnel Rd.

Holiday Inn & Holiday Inn Express


Days Inn

Homewood Suites

Double Tree Hotel

Best Western

Comfort Inn

Quality Inn

Red Roof Inn


Cliff’s at Walnut Cove

Cliff’s at Brevard

Cliff’s at High Carolina

Friendly Hills Apartments.

Haw Creek Muse Apartments

Greystone Apartments (Proposed)

Beacon Manufacturing Plant

Dayco Manufacturing Facility

Victoria Urological


Bojangles Restaurant

Popeye’s Restaurant

Van Wingerden Greenhouses

St. Joan of Arc School

Scenic Mobile Home Park

Bledso Office Building

Forest & Timberland

Kress Building - Retail/Office/Condo

21 Battery Park - Condo/Office/Retail

Black Forest Shopping Center

South Pointe Shopping Center

Bromley Plastics

Auto Dealerships

Enterprise Factory Outlet

Groce Funeral Home

Champion Manufacturing

Imperial Cold Storage

George’s Stor-Mor

Aston Park Nursing Home

Fudruckers Restaurant

K-mart Shopping Center

Louis Dreyfus Cold Storage

Southern Cold Storage

Frontier Jet Spinning Mill

Quaker Oaks Manufacturing

North Pack Square Office

Grove Park Inn Golf Course

Highland Hospital

Highland Office Park

Ben Lippin School

Chimney Rock Park

OMC Manufacturing Facility


Walnut Cove – Subdivision

Cliffs at Brevard – Subdivision

Condemnation Right of Ways & Easements



The Appraisal Institute conducts a voluntary program of continuing education for it's designated members. MAI's, SRA's, and CCIM's who meet the minimum standards of this program are awarded periodic educational certification.  Mr. Foster has completed the voluntary education program.


Geographic Area of Completed Appraisal & Consulting Services

Southeastern United States



Partial Client List

Arbor National Commercial Mortgage Corp.

Asheville Savings Bank

Bank of St. Louis


Biltmore Company

Burlington Northern Railroad

Central Bank of Lake of the Ozarks

Central Carolina Bank

Centura Bank

City of Asheville


Falcon Management Corporation

Firestone Company

First American Savings Bank

First Citizens Savings & Loan

First Commercial Bank

First Union National Bank

Fulton Federal Savings Bank

GE Financial

General Electric Company

Grove Park Inn

Heller Financial Group

Hibernia National Bank


Jim Anthony

Mellon Bank

Merrill Lynch Relocation Management, Inc.

National Park Service



North Carolina Department of Administration

Palms and Associates, Inc.

Penn Central Railroad

Piedmont State Bank

Price Waterhouse, CPA

Raleigh Federal Savings & Loan

Resolution Trust Corporation

Regions Bank

Southwestern Bell

Southeastern Savings & Loan

SouthTrust Bank of North Carolina

The Boatmen's National Bank of St. Louis

The Central and Southern Bank of Georgia

United States Government

Department of Justice

U. S. Marshall Office

U. S. Forest Service

National Park Service


U. S. Postal Service

Mountain 1st Bank & Trust

Van Wingerden International

Wachovia Mortgage Company

Wells Fargo Bank

West One Bank - Idaho

Williams Furniture Company

State of North Carolina Dept. of Transportation

State of Missouri Dept. of Transportation

United Federal Credit Union