Seattle Residential, Commercial and Agricultural Real Estate Appraisal Blog

Company History

The company’s roots were established on and about 1916 by a predecessor company, Genesee Realty, founded by our current President’s grandfather, Ros J. Loranger. Mr. Loranger was one of the most respected Realtors in southeast Seattle. The business was located at the intersection of Genesee Street and Rainier Avenue South. Grandpa located there because the end of Genesee Street (50th Avenue South) was considered one of the favored locations to build the floating bridge across Mercer Island thinking no one would go to the expense of a tunnel. He misjudged government spending. Shortly after World War II, Berkley A. Lamb became President of Genesee Realty Company and in 1957, became an appraiser encouraged by then speaker of The House, John L. O’Brien and Governor Albert D. Rosellini. He earned his SRA professional designation and appraised property for the development of the Interstate 5 freeway.

Genesee Realty was sold in 1962 and Northwestern Properties, Inc. was formed along with Northwest Real Estate and Appraisal Company. The third generation Michael B. Lamb, MAI, SRA became president of the Appraisal Company then in 1970 when Seattle experienced one of its worst economic downturns, formed Lambs Appraisal and purchased a long-standing commercial company owned by Gifford P. Owen, MAI Appraisal Associates Inc. Berkley A. Lamb, SRA partnered with Donald C. Hanson to form Hanson and Lamb Appraisals.

In February 1980, the company was reunited as Lamb Hanson Lamb Appraisal Associates, Inc., recapturing the original family company name, Genesee Realty.

Today, the fourth generation of appraisers, Patrick M. Lamb, MAI candidate and Ian M. Lamb, SRA are considered experienced, professional appraisers well respected by their peers.

The company has an employment base between 25 and 30 Residential and Commercial Appraisers, in addition to staff.

Our Credo

Lamb Hanson Lamb Appraisal Associates, Inc. believes our first responsibility is to our clients, and all others who use our services. In meeting their needs everything we do must be of high quality. We must constantly strive for consistency, reliability, and affordability in our valuations in order to maintain a prestigious reputation. Every appraisal is handled, prepared, and delivered in a timely manner with rigorous attention to detail.

Our appraisals are always based on the most up-to-date information available. We constantly monitor national and local markets, financial conditions and economic trends, and our staff research specialists maintain an extensive resource library. Our online data network provides complete and up-to-date information on mortgages, rental and occupancy levels, and demographic trends. All of this ensures that our reports will be timely and our valuations well-founded.

We strive to provide clear, concise answers to even the most complex real estate questions. Our uniform appraisal formats allow us to provide those answers at a reasonable cost and in a timely manner.

We are responsible to our employees, the men and women who work with us on a daily basis. Everyone must be considered as an individual. We must respect their dignity and recognize their merit. They must have a sense of security in their jobs. Compensation must be fair and adequate, and working conditions clean, orderly and safe. We must be mindful of ways to help our employees fulfill their family responsibilities. Employees must feel free to make suggestions and complaints. There must be equal opportunity for employment, development and advancement for those qualified. We must provide competent management, and their actions must be just and ethical.

We are responsible to the communities in which we live and work and to the world community as well. We must be good citizens - support good works and charities and bear our fair share of taxes. We must encourage civic improvements and better health and education. We must maintain in good order the property we are privileged to use, protecting the environment and natural resources.

Our final responsibility is to our stockholders. Business must make a sound profit.
We must experiment with new ideas. Research must be carried on, innovative programs developed and mistakes paid for. New equipment must be purchased, new facilities provided and new products launched. Reserves must be created to provide for adverse times.

When we operate according to these principles, the stockholders should realize a fair return.

Our Mission Statement

Lamb Hanson Lamb Appraisal Associates, Inc. will pursue excellence in the field of real estate appraisals, both Commercial and Residential. Upholding the long-standing tradition of the Company as a leader in the field, Lamb Hanson Lamb Appraisal Associates, Inc. will seek to expand operations to increase service to the market share, while focusing on quality and customer satisfaction. Strong fiscal management, effective recruiting and hiring, quality control, and productive administration are the key elements for the continued growth and development of the Company; Quality; Timeliness; and Communication (QTC) will consistently set the standard for Lamb Hanson Lamb Appraisal Associates, Inc.