New Services

Reserve Studies

Lamb Hanson Lamb Appraisal Associates, Inc. now provides Reserve Study services for properties situated in Seattle and throughout the Northwest Region at extremely competitive prices, offering you an economical solution to your community needs. Replacement Reserve Studies enable you to develop a sound financial plan for your community. They provide recommendations to resolve even the toughest funding problems, they protect you against imposing special assessments on homeowners, and fulfill the fiduciary responsibility of the Board of Directors.

  • Detailed Component Inventory
    - In-depth replacement component itemization
    - Comprehensive inventory, even for the larger communities
    - Components organized to meet the needs of your community
  • Understandable, Useful Information
    - 30-year calendar of replacements - an excellent planning tool!
  • National Standard Reporting
    - Reports comply with the Community Associations Institute’s (CAI) National Reserve Study Standards
    - Reports comply with USPAP and the Professional Code of Ethics of the Appraisal Institute
    - Reports are generated under direct supervision of an MAI Appraiser (Member of the Appraisal Institute)
  • Component & Cash Flow Methods
    - Simultaneously calculates component and cash flow methods
    - Graphs compare the financial results of both for easy understanding
  • Realistic Funding Plans
    - Close coordination with the community manager and Board of Directors
    - Recommended solutions to even the most challenging funding problems

Reserve Study Group

Performing replacement allowances and reserve studies is a typical practice for appraisal professions in almost all income producing property. Moreover, this type of analysis is a key curriculum in the education requirements of the Appraisal Institute and in achieving State Certification.

Reserve Studies are needed by condominium and similar community associations for planning and budgeting for the future. Lamb Hanson Lamb views this as being closely related to appraisal methodology, but requiring some additional skills, and has created a specialized team to serve this need.

Patrick M. Lamb, VP/COO
Certified General Appraiser & Consultant

Mr. Lamb is currently a Certified General Real Estate Appraiser in the State of Washington as well as the Vice President and Chief Operations Officer at Lamb Hanson Lamb Appraisal Associates, Inc. and has been providing valuation and consulting services since 2001.

Mr. Lamb is regularly involved in performing appraisals of a variety of commercial properties for clients located throughout Western Washington. His experience covers all types of assignments including mixed-use, apartment, condominium, office, retail, industrial, special use, large and small scale subdivisions, raw land, complex residential and prospective construction properties. He manages and performs complex assignments involving multiple locations and/or financial interests. His educational background and experience in valuation encompasses all major appraisal disciplines. Lastly, his knowledge of information management and software systems ensures greater reliability and quality in the valuation products that he delivers.

Barry Lamb
General Contractor

Mr. Lamb has been involved with the construction industry since 1973. He has gained experience in the development and construction of Commercial High Rise Buildings; Multi-Family Apartments and Condominium Developments; Medical/Dental Buildings; Highway, Bridges and Treatment Plants; and, Tenant Improvements. He owned and operated Lamb, Inc. and Lamb Longo Construction, a commercial General Contraction company for over 20 years and now acts as a Development and Construction Consultant for various clients throughout Washington State.

C. Edward Boyle, CCIM
Certified General Appraiser

Mr. Boyle attained a Certified Commercial Investment Member (CCIM) designation (#838) of the Commercial Investment Division of the National Association of Realtors since 1978. Mr. Boyle is well experienced in the appraisal of a wide variety of property types, including such divergent projects as fish farms, golf resorts, and water rights valuation, valuation of Transferable Development Rights, as well as more conventional properties such as hotel/motel, apartments, proposed condominium projects, offices, industrial and warehouse, etc. He is our resident expert in vacant development land, particularly residential subdivisions at any point in their progress.

Mr. Boyle has provided consulting services for a variety of real estate valuation assignments including highest and best use studies, feasibility studies, market analysis, and investment analysis. He has served as an expert witness in a number of real estate related actions.

In addition to his valuation experience, he has over 25 years as a licensed real estate broker in Washington and eight years licensed as an out-of-state real estate salesman in Oregon. He has also held DPP Securities license for syndication of real estate equities for eight years. He founded and managed the Seattle Brokerage firm Westlake Associates for its first decade of operation. He also founded Allied Commercial Group, which developed numerous residential subdivisions during the 80’s and 90’s. He was a principal in Golden Home Builders, as well.

He has been active in the real estate industry for many years. He helped found the Commercial Brokers Association (MLS) and served as one of its early presidents. He was a founding board member and loan committee member for a new commercial bank. He has served as president of the Washington Association of Realtors; The Seattle King County Association of Realtors, and was a multi-term director of the National Association of Realtors. He has taught real estate courses for a variety of educational and training purveyors. Mr. Boyle is a Washington State Certified General Appraiser.

Barry C. Wilson
Certified Residential Appraiser

Prior to becoming a real estate appraiser in 1986, Mr. Wilson spent over 10 years in the construction field as a plumber, pipe fitter and pneumatic instrument technician. His experience and knowledge of construction processes, especially relating to plumbing and HVAC systems, has served him well in developing replacement cost analyses and appraising proposed new construction from plans and specifications.

Edward A. Williamson
Associate Appraiser

Mr. Williamson, a commercial appraiser and consultant, was the owner and chief project manager of Rainland Facility and Project Management, Inc for a decade, overseeing TI projects for several firms in the Puget Sound area, including Siemens. He supervised every aspect of real property improvement projects from conceptual drawing through installation and finishing, managing subcontractors and providing TI services in-house. Mr. Williamson held a General Contractor’s license and is also currently licensed in Washington as a real estate agent.

Bart Repass
Certified Residential Appraiser

Mr. Repass is a native of the Northwest, born and raised in Kirkland, WA. He has 6 years experience in the residential valuation industry and is currently working towards his commercial credentials. Prior to his commencement at Lamb Hanson Lamb, Mr. Repass owned and served as principal appraiser of Appraisal Direct - a residential appraisal firm which specialized in servicing Eastside banks and mortgage companies. In addition to property valuation, he has experience in the HVAC industry as he worked for three years as assistant office manager at Washington Energy Services and its partner company, Bob’s Heating & Air Conditioning. Bart comes from a family deeply-routed in real estate as his father is a well-known local architect who continues to design and build private residential and commercial projects.