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FailedScience

Mainland Land Prices Are Rediuclous

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So right now, there is roughly 65% of all sims that are unowned, the greater majority being land for sale. These plots sit unused and mostly empty for no reason other then the fact someone wants to get a rediculous price for them. It would seem the land barons on secondlife have forgotten how an economy works, supply and demand. Right now there is a massive supply with very little demand, holding a plot that you are trying to sell at 10L$m2 for 6 months isn't a smart choice. Back in the day land sales were as follows....

 

1.0L$ ---> LLS base price for all land sales

1.5L$--> Mountain land

2.0L$--->Grass

3.0L$-->Waterfront

4.0L$ -->Roadside

10L$ --> City (2.0 prim bonus)

These were widely accepted and kept the market moving now it has gotten stationary causing people to loose money, and also causing alot of would be players to avoid playing due to high prices.

 

It isnt a hard concept no one wants to pay 50,000L$ for a 512sqm plot that gives you 175 prims. Its not hard to understand why these barons are loosing money, they think way too long term. If you quick flip you get the land trading hands more often, more land being set for sale, more people requesting abandoned land be set for sale. You rejuvinate the market, by setting these rediculous prices you are being absolutely stupid. Please adopt the right prices for the plots that you have, take the loss that you have given and lets rejuvinate the grid. Its not all about your pocket your the idiot who bought a bunch of land and jacked the prices up not us. SIDE NOTE: Auction prices are getting rediculous I lost a 512 at 10.0L$m2 and it was a terrible plot on a mountain side. HOW DID IT GO FOR UPWARDS OF 10L$m2. I set my bid price at that because I figured no one would want it for that high because its absolutely useless to everyone. Like seriously land barons get your act together.

 

Im calling for a complete boycott of buying land until these prices has been met anyone who is joining please post it here. Its time to do something about our secondlife before it dies because people are greedy.

 

I litterally just got done talking to a land baron who said they hold empty plots sometimes as long as 4 years, what is the point of this? care to explain? he told me he prices them at what he thinks they are worth. SO these are random numbers they put in. OUTRAGEOUS, lets get a set of standards and get the economy rolling again. You idiots.

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We created a group "Land Baron Boycott For Reasonable $" open enrollment this is for the boycotting of landbarons, who will no longer be getting our money. Cut them off where it counts they will have to fix their prices.

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I have seen plenty of auctions that don't get any bids, i.e. you could have owned the land for .5L$/sqm. Someone wanted that hillside 512 more than you and won. Free market, SL is best that way. 

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not sure where you buy your land, but i didn't pay more than 0.5 to 1 L per sqm for the last 4 years... green, flat roadside...and more

 

of course there are some who ask a lot more, but they will never sell it..

you post ...well... free market... ask more sell less?.. don't make yourself angry about nothing.

 

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Clearly you would vary between those price ranges, if a plot was hill/grass youd sell for 1.75 - 1.85 and so on and so forth. there is no reason a plot the size of 512sqm should cost more then 5120L$ its insanity. 

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FailedScience wrote:

youd sell for 1.75 - 1.85 and so on and so forth. there is no reason a plot the size of 512sqm should cost more then 5120L$ its insanity. 

 ever heared about market?... sentiment? location? you are blind and only see your own thing.

You don't se the rules for this, it's the market.

you should???? who are you to tell me .or others, what we should do with our land?

If i want to buy,  a parcel 512 for 512.000 it still wouldn't be your business, if i want to pay that, i want to pay that... NOT your business. That seller most likely has been waiting for me for 10 years now, but if i want it, i take it.

There is more than enough land for good prices, normal prices, affordabe for every premium member.

Your opinion doesn't change that.

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We need a forum just for people who like to tell other people how to run their businesses -- in particular how to ignore the operation of a free market.

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A land owner pricing parcels at what he thinks they are worth = "random numbers"? 

If you don't think a property is worth what is being asked for it, just don't buy it.  If you can't find a property in a location you like for what you think one is worth (which must be random numbers that you just made up), your obviously wrong about what property in that location is worth.

Sounds to me like sour grapes due to a failed search for the kind of land you want for a price you can afford to pay.

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FailedScience wrote:

 

...

1.0L$ ---> LLS base price for all land sales

1.5L$--> Mountain land

2.0L$--->Grass

3.0L$-->Waterfront

4.0L$ -->Roadside

10L$ --> City (2.0 prim bonus)

These were widely accepted and kept the market moving ...

Of course there were never "widely accepted" prices for SL land, but these numbers in particular are just laughably made-up. It has never, ever been the case that roadside land commanded a higher price than waterfront. Also, double-primmed "city" land has never sold for anywhere nearly as low as L$10/sq.m.

Although this whole thread, spam-linked all over the forums, is a blatant troll, it's still possible some sap will take it at face value, so they should be warned: It's utter malarkey in every possible way.

(On the off-chance that underneath the fog of fabrication there's a sense that the Horizons prices are unsupportable: We'll see, but my hunch is that people are paying way too much at those auctions, in a kind of mass "irrationally exuberant" hysteria. But with one born every minute, you can't blame LL for printing yet more of these regions, taking the money, and running to the bank.)

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I remember when landbots became a thing, and it was difficult to get inexpensive mainland at all, but that scene crashed ages ago and hasn't come back.

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I believe what we have is called a free market economy. Sellers AND buyers set the land price, because if sellers set the price too high, no one will buy it.

LL doesn't care, they get tier from whoever holds the land, and if a baron wants to pay tier year after year for land that will never sell, thats their choice.

There is lots of land for sale at  L 1$ per square meter, even roadside is reasonably priced. But buy it fast before a land baron snaps it up and turns around to list it at double the price.

Thats the bigger problem, land barons flipping land, not outrageously priced individually parcels.

But even that isn't really a problem, you just have to faster than the next guy at buying the parcel you want.

 

:)

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Just want to agree that the list of prices in this post is ridiculous and has NEVER been correct. I watch land a lot just for fun. Except for a few short month long ago (this is about a ten year history for me so comments are not about the very beginnings of Second Life) there has always been reasonable land to buy. Even when land prices were high across the board (and there have been times like that) one could always get a good deal (relatively speaking) by LOOKING HARD.   

My group has three waterfront hill protected land lots. They have had them for many many years. I have watched the land go down in value and most of my neighbors have disappeared so our land is now one of only a few on a sim. I doubt we could sell this land for what we paid for it years ago, but we have over the years bought and sold land and almost always made a tidy profit -- and sold the land quickly.

 

The dynamics of land sales has changed over time and will no doubt continue to change. I have watched the land across from my shop (quarter sim RENTAL) up for sale at high prices then prices lowered then prices lowered again, then sold (likely for less than what it was listed at). Then the new person does the same thing LOL. So lots of folks have been losing money on those lots *wink*.  That is their choice and their lesson.  Currently those lots are priced at 29 per sq meter for a 512 and 89 per sq meter for a larger lot. These are roadside lands. The 512 has water access. I think this is the highest price they have ever been and of course they won't sell at that price. These are INDIVIDUALS, not land barons. It seems like many folks just like putting high prices on their land knowing it will never sell. Maybe it's an ego thing. I know not.

 

Lots have always sold "too cheaply" or at what appeared to be an inflated price. The same is true in the corporeal world. The value of a lot (in either world) is what someone is willing to pay for it at that time. So sayeth my real estate people :D.

 

So new folks that might be reading this. Do your homework. Spend lots of time looking at lots. REMEMBER that unless you are on an estate of your own, you neighbors WILL CHANGE. So buy the lot, not the neighborhood.  Make sure that water access will REMAIN water access and is not dependent on "nice neighbors" giving you a thoroughfare. Protected land IS good and worth more (if it is really protected and not just advertised as that).  That's my point of view anyway.  

 

PS. Just wanted to add that in the last year with those lots across from my store -- even though they have been subdivided then rejoined and sold a ton of times, as far as I can tell NO ONE has made any money on "flipping" (even when it was land barons last Spring).  Maybe it is just a passtime; a game within a game. It is interesting to watch though :D

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Back in which day?

In 2004-2005, waterfront would go for $9/m or $10/m or more.

I remember I had a stock price of $7.5 I would set land to for existing tenants who wanted to buy.

There wasn't land at that golden mean of $5/m that Philip Linden talked about at the time -- unless it was PG (General).

The only land that was $1/1 was "First Land" that used to be available only to newbies, but then that program was discontinued due to bots.

Land is very cheap now. It has gone up somewhat but it still an incredible bargain compared to yesteryear. Unless, of course, you are looking at land owned by large land owners in Zindra.  But I see bargains go by even in Zindra.

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..."(On the off-chance that underneath the fog of fabrication there's a sense that the Horizons prices are unsupportable: We'll see, but my hunch is that people are paying way too much at those auctions, in a kind of mass "irrationally exuberant" hysteria. But with one born every minute, you can't blame LL for printing yet more of these regions, taking the money, and running to the bank.)"

Well said Qie, but I still see Bay City selling, errrr listed at crazier prices. Does anyone know if any of those Bay City parcels actually sell?

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One thing I've noticed occasionally is that ridiculously priced land is often for rent too.  I think that some landlords do this not to sell the land but to put it in land search to give them added free advertising for their rental. If they do end up selling at the ridiculous price they lose nothing and laugh all the way to the bank.  They then use part of the proceeds to buy other land they can do this with. 

People wanting land see the listing want to know what's so special TP there to find out then find it for rent at a much more reasonable price.  Someone will eventually rent it, since after all it's such a 'prime' parcel for such a reasonable rental amount. :smileyvery-happy:

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Cedric Brown wrote:

Does anyone know if any of those Bay City parcels actually sell?

They do, although not necessarily for the full listed price every time.

Of course there are some priced to not sell, just for the yellow highlighter effect on the Map, apparently.

It's pretty indisputable that Bay City prices are high. Somehow, though, they seem more justified than some other high-priced parts of Mainland. Part of it is the theme, but mostly it's the established community that makes it worthwhile to me not to sell my own Bay City land, even at those high prices. And of course that's how we get such high prices.

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Sounds to me like a rant from someone who wanted a particular piece of land in auction and lost. That is just the nature of an auction. I waited for Horizon to see what the auction prices would do within a couple weeks and it paid off. I bought today and paid 1/2 the price of what others were paying just last week.

I have also found really good land for really cheap. You just have to search and be willing to put in the time to TP around the map. I don't blame the land barrons, they are trying to make money, I mean that is what they're in business to do right? That would be like getting mad at a designer because you feel they over priced their merchandise. They will realize and adjust once they aren't making the sale.

Best of luck in your search.

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Yea I agree that it is dumb the pricing some people do... I usually sell roadside max $2.0 L a meter! 
I have some plots for $1.8 Not trying to advertise but just stating my prices... Land barons are **bleep**ing everything up!

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You realize of course that a land baron will buy your road side at 2 L per m, then immediatly set it for sale again at 2 or 3 times that amount.

My new neighbor got pissed off at me and sold her parcel to a land baron, who immediately turned around and offered it to me at probably 6 times what he paid her for it.

:)

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BilliJo Aldrin wrote:

You realize of course that a land baron will buy your road side at 2 L per m, then immediatly set it for sale again at 2 or 3 times that amount.

That's a land flipper, not a land baron. ;)

But yes it does happen.

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I don't think land barrons are a problem.  You can find any type of land, from good to great, that is abondened.  Fill out a support request, LL is good about listing it within a day or two, and you can get it for a great price.  I buy all my land through auctions now.  I don't see how barrons could possibly make money and they have to pay tier.

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On 1/2/2017 at 4:28 AM, Qie Niangao said:

It's pretty indisputable that Bay City prices are high. Somehow, though, they seem more justified than some other high-priced parts of Mainland. Part of it is the theme, but mostly it's the established community that makes it worthwhile to me not to sell my own Bay City land, even at those high prices. And of course that's how we get such high prices.

Also, double prims, lots of protected edges.

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Yes, but double prims and protected edges are shared by both Bay City and the new Horizons sims. I listed other, contrasting factors as possible justification for my suspicion that the long arc of SL land values won't support the high Horizons auction prices nearly as well as the high price of Bay City parcels.

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13 hours ago, Qie Niangao said:

Yes, but double prims and protected edges are shared by both Bay City and the new Horizons sims. I listed other, contrasting factors as possible justification for my suspicion that the long arc of SL land values won't support the high Horizons auction prices nearly as well as the high price of Bay City parcels.

Fair point :-)

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