Name:   Osms - Subject:   Alabama Power Leased Lots Date:   4/5/2014 7:22:16 PM

I went through the purchase of the leased lot about a year ago and I found that APCo offer to be very high compared with the local market.  I met with the APCo contracted appraiser (commercial from B'ham, and he was unfamiliar with the Lake Martin area and seemed to have a preconceived idea of what the appraisal should be; in other words he seemed to arrive at our house with little interest in evaluating the lot.  After six months of negotiations I was successful in receiving an final offer of about 54% of their initial offer.  The APCo appraisals (I went to B'ham and reviewed mine) use Marina Marin, Willow Point, Windemere, and Trillium as their comps for rural lease lots, which is unfair and inaccurate in my opinion.  Lease Lots don't have curb and gutter, swimming pools, club houses, etc. and should not be priced as if they do.  My advice to anyone negotiating is hang in there, don't give up and don't lose your cool.