Quote:
Originally Posted by HappyTraveler
-- I very much doubt there are multiple people bidding for lots, in general. That claim is a marketing tactic. There could be a small few of unique lots where that's the case but, mostly not so. Particularly in this sluggish market.
-- Second bolded above - I think you answered your own question.
-- Third above, in this down-sloping market and given appraisals are based on prior sales, this is a fair bet.
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You definitely don’t have experience with getting a build lot. We tried for 15 lots, released on different days for multiple weeks. We were #6-41, on all of them. Screen shot of our name and spot for each lot that would accommodate 3,000sf, pool, 3+ car garage stretch if possible.
We were finally #1 on lot #16. Not even close to everything we needed, but close. We wrote a check for $10,000. For two more weeks we tried for 6 lots that had more boxes checked, if we would have been #1 would have lost of initial $10,000. Yes we would have donated the $10,000 to the developer if we were #1. However #2-11 was the closest.
Build lots are far different than a base spec home.