Reserve Studies

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 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) or a WA State General Certified Appraiser.
  • 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
President and CEO

Mr. Lamb is a Certified General Appraiser and MAI candidate. Since 2001, Mr. Lamb has been 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.

Michael B. Lamb, MAI, SRA
Certified General Appraiser & Consultant

Since 1969, Mr. Lamb has been appraising land residences, estates, offices, ranches, hotels, motels, condominiums, apartments, warehouses, manufacturing and industrial, grain elevators, service station sites, marinas, fraternity houses, recreational facilities, easement valuations, medical clinics, subdivisions, restaurants, commercial, and special purpose properties.

The scope of appraisal includes financing, acquisition, economic studies, estate valuation, feasibility reports, Ad Valorem Tax Reevaluation, Just Compensation, partial interests, business valuation, mechanical and equipment, and Fair Market Value.

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.

Bryan H. Boyce
Certified General Appraiser and Consultant

Bryan Boyce has been active in Commercial Real Estate Sales and Appraisal since 2002. He acted as an Associate Appraiser for UBI Business Services, 2005-2007. He was a commercial Agent at Peralez Real Estate 2004-2007. During his time at Macaulay & Associates he specialized in Income Property Valuation and Right of Way appraisal, 2007. Bryan Boyce formerly served as the head of the Commercial Division of Evergreen Appraisal Group, as well as Residential Appraisals, 2007-2009.

As an appraiser for Lamb Hanson Lamb Appraisal Associates, he specializes in Income Property, Commercial Real Property, Highest and Best Use Study, and Prospective Value Mr. Boyce is currently one of the few appraisers who can perform both Residential and Commercial work. Bryan has extensive experience in Appraisal Marketing and Firm Branding. He is knowledgeable in the fields of web programming and creating an Internet presence. By being active in Commercial Real Estate Sales and Leasing, he is able to use his experience to prepare superior appraisal reports. He has been updated on the changes to USPAP in 2008, and continually updates and changes the process that he uses, as the laws and standards of the Appraisal Industry change. He follows the “Appraisal or Real Estate” process with 100% conformation and verification of all questions and comparables.