Qualifications of the Appraisers

Michael J. Naifeh, MAI, CRE®

Michael J. Naifeh

State of Arizona Certified General Real Estate Appraiser

Certificate #30276

Professional Experience

2013 to present    Valbridge Property Advisors | MJN Enterprises, Inc., Senior Managing Director
1988 – 2012    MJN Enterprises, Inc., President and Principal Appraiser
1983 – 1988    Mahoney, Cole and Associates, Fee Appraiser
1980 – 1983    Sanders K. Solot and Associates, Fee Appraiser

Professional Affiliations and Memberships

  • Member of the Counselors of Real Estate (CRE®), Certification Number 2387. The CRE®
    designation is awarded only to those individuals who are invited by their peers into the
    membership of the Counselors of Real Estate.
  • Member of the Appraisal Institute, earning the MAI (#7812) designation in 1988. The
    Institute conducts a mandatory program of continuing education for its designated
    members. Mr. Naifeh is currently certified under this program.
  • Registered Property Tax Agent in the State of Arizona
  • Licensed Real Estate Salesman, State of Arizona

Formal Education

Bachelor of Science Degree, University of Arizona, 1980. Concentration: Accounting and Real Estate

Professional Education

All required classes to obtain and maintain the MAI designation and state certifications.

Public Service

  • Appointed to the Arizona State Board of Appraisal January, 2000.
  • Served as Vice Chairperson in 2000 and Chairperson in 2001.
  • Reappointed for a second term January, 2002.

Scope of Appraisal Practice

Mr. Naifeh’s appraisal practice is concentrated on valuations for the following purposes: Mortgage loan underwriting, Private negotiations, Legal proceedings, and Consultations. Clientele includes governmental agencies, corporate organizations, attorneys, development companies, and financial institutions. Mr. Naifeh has extensive experience in the valuation of most types of urban and rural real property, including single and multi-family residential, commercial, industrial, and vacant land. Experience also includes special-purpose properties, feasibility studies, property tax appeals, leased fee and leasehold interest, partial interests, condemnation, UASFLA (Yellow Book) compliant appraisals and counseling.

Mr. Naifeh is a founding member of Valbridge Property Advisors and served on the initial Board of Directors.

Craig W. Johnson, MAI

Craig W. Johnson

State of Arizona Certified General Real Estate Appraiser

Certificate #30236

Professional Experience

2013 to present    Valbridge Property Advisors | MJN Enterprises, Inc., Managing Director
2012 – 2013    US Department of Interior, Office of Valuation Services, Review Appraiser
2005 – 2012    MJN Enterprises, Inc., Senior Analyst and Consultant
2001 – 2005    Bruce D. Greenberg, Inc., Senior Analyst and Consultant
2000 –              KB Real Estate Advisors & Appraisers, Inc., Senior Analyst/Consultant
1994 – 2000    CB Richard Ellis, Inc., Assistant VP Valuation & Advisory Services
1992 – 1994    Craig W. Johnson, MAI, sole proprietor
1990 – 1991    RTC/Pima Federal Savings, Vice President and Chief Appraiser
1982 – 1990    Greenberg Chin Consultants, Senior Appraiser

Professional Affiliations and Memberships

Member of the Appraisal Institute, earning the MAI (#8241) designation in 1989. The Institute
conducts a mandatory program of continuing education for its designated members. Mr. Johnson is currently certified under this program.

Formal Education

Bachelor of Science in Business Administration, University of Arizona, Finance major

Professional Education

All required classes to obtain and maintain the MAI designation and state certifications.

Scope of Practice

Mr. Johnson’s appraisal practice is concentrated on valuations for the following purposes: Mortgage loan underwriting, Private negotiations, Legal proceedings, and Consultations.

Clientele include private individuals, corporate entities, financial institutions, and governmental agencies. Mr. Johnson is experienced in the appraisal of both residential and commercial properties and specializes in single- and multi-tenant industrial, retail, and office facilities, and conventional and subsidized multifamily projects, including apartments developed under the Low Income Housing Tax Credit (LIHTC) program. Assignments have been completed in Arizona, New Mexico, Colorado and Nevada, with the State of Arizona being the primary service area.

Carolyn Van Hazel, MAI

Carolyn

State of Arizona Certified General Real Estate Appraiser

Certificate #31591

Professional Experience

2013 to present    Valbridge Property Advisors | MJN Enterprises, Inc., Managing Director
1999 to 2012    MJN Enterprises, Inc., Senior Analyst and Consultant

Professional Affiliations and Memberships

Member of the Appraisal Institute, earning the MAI designation in 2012. The Institute conducts a mandatory program of continuing education for its designated members. Ms. Van Hazel is currently certified under this program.

Formal Education

Bachelor of Science, cum laude, in Economics, 1993 – 1995, University of Arizona

Professional Education

All required classes to obtain and maintain the MAI designation and state certifications.

Scope of Practice

Ms. Van Hazel’s appraisal practice is concentrated on valuations for the following purposes:
Mortgage loan underwriting, Private negotiations, Legal proceedings, and Consultations.
She specializes in the valuation of most types of commercial real property including:

  • single-family residential subdivisions,
  • multifamily residential
  • hotels
  • office
  • retail
  • industrial
  • vacant land and specialty properties such as cellular towers, event centers, and charter schools.

Assignments include leased fee, leasehold and sandwich leasehold valuations, partial interest
valuations, tax credit valuations, eminent domain valuations and UASFLA (Yellow Book) compliant
appraisals.

Susan M. Shaw

Susan M. Shaw

Professional Experience

2013 to present    Valbridge Property Advisors | MJN Enterprises, Inc., Associate Appraiser
2009 – 2012    MJN Enterprises, Inc., Associate Appraiser
1999 – 2001    Butler • Burgher, Inc., Associate Appraiser
1991 – 1999    MJN Enterprises, Inc., Associate Appraiser

Professional Affiliations and Memberships

State Certified – State of Arizona #30726
State Certified – State of Texas #TX-1328971-G

Formal Education

Bachelor of Science in Business Administration, University of Arizona

Professional Education

All required classes to obtain and maintain the MAI designation and state certifications.

  • 1A-1 – Real Estate Appraisal Principles
  • 1A-2 – Basic Valuation Procedures
  • 1B-A – Capitalization Theory & Techniques, Part A
  • 1B-B – Capitalization Theory & Techniques, Part B
  • SPP-A – Standards of Professional Practice, Part A (USPAP)
  • SPP-B – Standards of Professional Practice, Part B
  • ll520 – Highest & Best Use and Market Analysis
  • l320 – General Applications
  • ll540 – Report Writing & Valuation Analysis

Scope of Practice

Ms. Shaw’s experience includes valuation of most types of urban real property; i.e., single and multi-family residential, commercial, industrial, and vacant land as well as special-purpose properties and feasibility studies.

Nikolas Ivan Rieser

State of Arizona Certified General Real Estate Appraiser

Certificate #32097

Professional Experience

2013 to present    Valbridge Property Advisors | MJN Enterprises, Inc. – Certified General
Appraiser
2015 – 2015    BDO Consulting – Senior Analyst
2012 – 2015    Valbridge Property Advisors | MJN Enterprises, Inc. – Appraiser Trainee
2008 – 2012    MJN Enterprises, Inc. – Appraiser Trainee

Professional Affiliations and Memberships

Certified General Appraiser, State of Arizona – Certificate #32097
Real Estate Sales License, State of Arizona – License #SA653208000

Formal Education

Bachelor of Science in Business Administration, University of Arizona, 2007
Majors: Business Management and Criminal Justice

Professional Education

All required classes to obtain and maintain the state certifications.

Scope of Appraisal Practice

Mr. Rieser is experienced in the appraisal of a variety of different residential and commercial properties including: multifamily, hotels, industrial/flex, self-storage, retail, office, land, and special use properties. Mr. Rieser also has experience in consulting, appraisal review, and purchase price allocations.