Horizons and overpriced land

[Oreo Kira]

Hi, this may belong in the mainland forum but I just had a general question. Do people actually pay over a hundred dollars for 1024 sq ft of land?? I always wondered how these people make any money because half of Horizons (as an example) are all for sale with the lowest price being 26,000L that I've seen. It's just crazy. Are other places like this or is it just Bay City and Horizons? 

Edited August 21, 2017 by Oreo Kira

[Chic Aeon]

I have a VERY oddly (choppy) shaped 512 across from my store. It has been there a long while at that price which was lowered from 30,000 ish. So there are overpriced lands everywhere. There were times long ago when waterfront land really did sell for 22,000 for a 512. I doubt that is happening often now.

Both Bay City and Horizons are double prim lots so you "could" think of a 1024 there as a 2048 so far as prims go. And they are a planned neighborhood with streets and such which keeps things looking better in general.  Depending on what you want (prims versus space) they might sell. SOMEONE bought them along the way and the prices were high even at auction but I don't remember exactly what they were. Search of this forum on Horizon and Auction should find you a thread or two if you want to check.

I have seen VERY reasonable RENTALS in Horizons so that seems the logical way to go if you simply want to have a home or shop there.

[Alwin Alcott]

nothing new.. this happened a lot in the past too.

Rare land is expensive, but as seller you alway scan overplay your luck:  if people don't want to pay it, it won't sell

And you need only one that doesn't know how land is priced everywhere else ( some around 0.5 L), might be not adult, but for normal use moderate is usable for everything most people want... even slex, just not public.

[BilliJo Aldrin]

of course its grossly overpriced because for some unfathonable reason land flippers think others would love to live on those horrible looking sims and will pay obscene amounts for the privilege

[JoeDex]

If you are patient in looking for property, you can fin a great place that is cheap. My 2048m ran me L$2,000. But I had to look for about a week to find it. There is soooo much land now you can find a good deal. There is one place I have always wanted but I cannot go the $110 real dollars to buy it; for me it is just too much. One other thing you are probably aware of but I will mention anyway. G rated land is cheaper than M or A rated land.

[Sadvhi]

I'd definitely be willing to pay more for the double prims, esp as a premium member it would be great because you could sell your weekly 300L and put it towards the extra 512sqm tier payment.

[Hintswen Guardian]

Yes land does sell at that price, if it is in the right location. There is also Nautilus BTW (similar pricing).

[animats]

There are areas which look full, but almost everything is for sale or lease. Real estate operators fill up land with large unused buildings, creating the illusion that there's something there. But there isn't. Look at the world map, with all those sims with 0 to 2 avatars in them.

[Callum Meriman]

On 8/21/2017 at 11:21 AM, Oreo Kira said:

 Are other places like this or is it just Bay City and Horizons? 

Nautilus, all around the Blake sea. The Blake Sea land can reach silly prices, but sailing is a lot of fun and the desire to have a nice place to sail from is a strong one in SL.

[SAULGOODiE]

I'm having such a hard time believing the New Horizons parcel pricing I am seeing. The rentals are ABSURDLY CHEAP,  yet no one is renting and the purchase prices are through the roof.

Blake Sea makes sense to me, open water access is a hot commodity in SL and highly sought after. Bay City also makes a bit of sense as it is a Historic area with the benefit of double prims. 

I have recently picked up a rental in New Horizons; it's 350L$ a week for 700 PRIMS!! I have seen parcels near me renting for 1$L/sm but they aren't being rented out. I have a 99% lag-free experience in my home because i simply have no neighbors! With a premium member stipend, a resident could score a 700 Prim Parcel for 50$L a week!! Am i missing something obvious, or is this an incredibly epic deal?? lol

Now I understand Real Estate is somewhat lucrative around the grid especially if you know how to finagle things. My brain is just stuck hurting on this. Are there really not that many people renting homes in SL? Are New Horizons parcels still too small for most SL users? Is there something else about the land that is putting people off ("A" rating, psuedo mainland status, etc)?? I am curious how long these sale prices can last with virtually no residents currently renting. Is it just land barons attempting to drive the property value up? Or will the double-prims and linden-protection keep this place locked in a bizarre price bubble..... 

[Klytyna]

18 hours ago, SAULGOODiE said:

Are there really not that many people renting homes in SL?

Loads of people rent parcels in SL, it's just that most prefer to rent "Islands Style" where you "buy the land from the estate owner for 1 weeks rent, which puts your name on it with ful parcel powers, AND includes 1 weeks rental.

Renting "Madlands Style" where you join a land group, and get limited parcel powers, isn't as useful.

As for the High sale price low rental price thing, that doesn't surprise me at all...

"New This Season: The Speciality Themed Residential Community you've all been waiting for, the Mini-Continent of Asshattia, auction prices start as low as 50 L$ a square meter!"

So you get a whole slew of land-baron-wannabes paying though the nose to buy overpriced digital swampland, that they are unlikely to ever manage to sell for a profit.

Can't sell the stuff without negative equity, and St Ayn of Rand turning them back from the Golden Gates of Capitalist Paradise when they die...

Won't abandon the land and walk away from that bad investment... Same reason as above...

So all they have left is offering it at ultra cheap rentals in the hope that some idiot will pay the tier for them while they figure a way to sell the lot without taking a massive financial loss.
 

[SAULGOODiE]

2 hours ago, Klytyna said:

Loads of people rent parcels in SL, it's just that most prefer to rent "Islands Style" where you "buy the land from the estate owner for 1 weeks rent, which puts your name on it with ful parcel powers, AND includes 1 weeks rental.

Renting "Madlands Style" where you join a land group, and get limited parcel powers, isn't as useful.

As for the High sale price low rental price thing, that doesn't surprise me at all...

"New This Season: The Speciality Themed Residential Community you've all been waiting for, the Mini-Continent of Asshattia, auction prices start as low as 50 L$ a square meter!"

So you get a whole slew of land-baron-wannabes paying though the nose to buy overpriced digital swampland, that they are unlikely to ever manage to sell for a profit.

Can't sell the stuff without negative equity, and St Ayn of Rand turning them back from the Golden Gates of Capitalist Paradise when they die...

Won't abandon the land and walk away from that bad investment... Same reason as above...

So all they have left is offering it at ultra cheap rentals in the hope that some idiot will pay the tier for them while they figure a way to sell the lot without taking a massive financial loss.
 

Sure a lot of that makes sense. 

I guess I was just curious seeing priorities with rentals and property ownership. Its the pure price-to-prim ratio that i am simply surprised to see not being taken advantage of. I understand most folks prefer privacy, or beautiful islands, or at the very least renting a deeded parcel with full powers; but for residents who just use skyboxes or whatever, it seems like a no-brainer to rent a place like this?

Like I said some things make sense, some things are not surprising, but I am just trying to wrap my mind around the intricacies lol

[BilliJo Aldrin]

On 12/4/2017 at 3:51 PM, SAULGOODiE said:

I'm having such a hard time believing the New Horizons parcel pricing I am seeing. The rentals are ABSURDLY CHEAP,  yet no one is renting and the purchase prices are through the roof.

Blake Sea makes sense to me, open water access is a hot commodity in SL and highly sought after. Bay City also makes a bit of sense as it is a Historic area with the benefit of double prims. 

I have recently picked up a rental in New Horizons; it's 350L$ a week for 700 PRIMS!! I have seen parcels near me renting for 1$L/sm but they aren't being rented out. I have a 99% lag-free experience in my home because i simply have no neighbors! With a premium member stipend, a resident could score a 700 Prim Parcel for 50$L a week!! Am i missing something obvious, or is this an incredibly epic deal?? lol

Now I understand Real Estate is somewhat lucrative around the grid especially if you know how to finagle things. My brain is just stuck hurting on this. Are there really not that many people renting homes in SL? Are New Horizons parcels still too small for most SL users? Is there something else about the land that is putting people off ("A" rating, psuedo mainland status, etc)?? I am curious how long these sale prices can last with virtually no residents currently renting. Is it just land barons attempting to drive the property value up? Or will the double-prims and linden-protection keep this place locked in a bizarre price bubble..... 

Land flippers drove the creation of Horizons, because as long as flippers were buying, LL would keep bringing more online. Now you have brand new sims totally empty because no one will pay the flippers their outragous asking prices. Its fine for LL though because they are getting tier. Horizons is so ugly, i could only imagine a legally blind person ever wanting to live there.

The sale  prices for adult land are ridiculous, that's what puts people off. Why are the prices so high?   Because there simply isn't enough adult land. I was standing on the cheapest adult 4096 for sale yesterday at $7000 L. I was  thinking about buying it when a land flipper landed and bought it. Its probably for sale today for $12,000 L  and it will sit for sale  forever.

LL needs to double, triple or even quadruple the amount of adult land. Eventually the flippers will realize their land is overpriced and more sensible prices will become the norm.

[Klytyna]

9 hours ago, SAULGOODiE said:

it seems like a no-brainer to rent a place like this?

Like something somebody with no brain would rent, might be a better description...

Look... Islands, ok, those private estate sims that make up 2/3rds of the grid.

I can go to a private estate company, pay 4400 L$ to "buy" a 1/4 sim parcel, that "purchase price" covers my first weeks rental, MY name is on the land, I have 5000 Prim allowance, full parcel rights, to boot/ban/build, I can set it to group owned, for a store or a club, or a gang hangout, or a Family/Clan home. I pay 4400 L$ a week, in rent to maintain control of that land. As an "Islands Style Renter" I have as many rights to it as a "Madlands Buyer" and compared to some "Themed Madlands areas" with special rules, often as not MORE rights.

If theres a problem with the sim, or with a neighbour, I can contact the estate company, a large firm will have Service staff online at most times, and they are keen to keep my business, so prompt response.

But a themed parcel on some speciality development? Houses you can't knock down, because building codes for the "community" forbid it, can't landscape the dirt in the back yard, can't do this can't do that. Your landlord has less rights than an Islander, and for many problems all he can do is shout fr LL, who'll do something, maybe, when their office opens the next day.

They add that 'tasty' double prim' bonus as a counter to all the negative aspects of living in the rigid little world. As a "Madlands Style" renter, your name doesn't go on the parcel, just your Landlords, they are the one with parcel powers, and possibly LESS parcel powers than you'd have on a private estate rental.

Another mistake you've made is "scoring 700 prims for 50 L$ a week".

You're not, you are paying 350 a week, it's just that 300 of those L$ are bought, directly from LL, once a year with 60 of your 72 premium fee dollars.

So, 350 L$ a week for double prim, but a big chunk of those 'bonus prims' will be eaten by the themed development aspects, and you have less rights than an Islander, and worse service.

Then add the REAL kicker... Your Landlord, Madlander Max, the Prim Warrior, is an unscrupulous pirate, who WILL sell the parcel out from under you the moment he finds a "Wannabe Madlands Slumlord" even more moronic than himself, who'll pay that stupid "swampland for sale" price tag. Which leaves you homeless and out of pocket, in a "Resident vs Resident" dispute LL won't touch with the wet end of somebody else's 10 foot cesspit stirring stick.

Simple fact is... What Madlanders call "buy" we Islanders call "Rent with a massive ripoff fee upfront", and what Madlanders call "Rent" we Islanders call "a really bad deal".

As for the idea that this wont affect simple skybox users, oh hell yes it does...

Which would you prefer, kicking unwanted intruders out of your home your self, there and then, or sending a notecard to Madlander Max, asking if he could drop by and ban them for you, next time he's on, if he's not too busy.

Those "super cheap rentals" are empty for a damn good reasons.
 

[Tari Landar]

2 hours ago, BilliJo Aldrin said:

 Horizons is so ugly, i could only imagine a legally blind person ever wanting to live there.

This one certainly doesn't