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Qualifications of Mickey Foster, MAI, SRA

Commercial Real Estate Appraiser serving North Carolina & South Carolina

869 Sand Hill Rd, Asheville, NC 28806  * 828-670-8828 * Email:

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Mickey Foster holds the “MAI” designation and the “SRA” designation from the Appraisal 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

  •  Car Wash facilities

  • Convenience Stores

  • Cold stores (refrigerated warehouses)

  • Warehouses (bulk storage facilities)

  • Hotels/motels

  • Commercial properties

  • Fast food facilities

  • Office buildings

  • Shopping centers/retail

  • Apartment complexes

  • Condominiums

  • 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” “Capitalization Theory 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

                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

        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”

Examples 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

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

Atlantic Coast Foods, Inc.

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
Nations Bank
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






Krystal Blue Car Wash 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
Fuddruckers 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

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

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