For those having issues with placing the lot (with raised or lowered terrain), go to edit town mode, go to place the lot so you can see whether it will be raised or lowered, and then cancel out of it. Then press **Control(Command if you're on a Mac)+Shift+C**, which brings up the cheat menu.
Enter the following.

"SetImportedTerrainOffset (value)"
without the " marks and substitute (value) for a number.

After you've placed the lot, check if the elevation is what you want before you press OK. If not, cancel and change the value you put in. Positive numbers raise the lot and negative numbers lower it. If you want to get it even more exact, use decimals.