Hampton Topics: Taxes on Leased Lots

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	Name:	Osms -
	Subject:	Taxes on Leased Lots
	Date:	5/16/2005 11:46:11 PM

Be glad to tell you what I know about APC bidding. I got my lot in 2002 and paid about a $12K premium (and beat the next bidder by 9K--that hurt). Rent is $250/month. I lost a bid on a lot last year that went for $11.5K. Most lots go to Spec builders with an average premium of $5-7K. Lots won by individuals who plan to build their own home on the lot usually go higher--Highest bids I've seen were about $24K (twice in three years). If you fall in love with a lot - go for it.

Plenty of lots go at a premium between $1-2K, but these are usually less desirable properties. I've seen one lot put out to bid twice by APC with no bids received. It's at the head of a small crowded cove.

The bid openings are public in Clanton. I've been to three and wish I had gone to one before I bid the first time. Results are not published so you have to go to the opening to begin to learn the trends and process.

I may bid this year and build a spec - haven't gotten my bid packet yet.