What is a reasonable price for Mainland property?

[Chaos Capelo]

Hello,

I'm wondering what is a resonable price for Mainland. I see so many different prices on lands I visit, it makes me wonder just WHAT is the going rate. Now, I see some BUYERS are paying 0.34 per m2 for mainland and of course some rediculously priced parcels that no one in their right mind would buy. I'm not trying to set a price here because I know lands varry with location, but how much variation in price is fair and what constitutes cheating the consumer. I was offered land for 2.0 L per m2. I heard the argument " I payed much more for this when I orginally bought it ". So, what IS a fair price?

 

[Knutz Scorpio]

I have never paid more then 1$L/sq.m, and I've never been able to sell land for more then 0.8$L/sq.m.  If it's protected roadside or protected water side land then it'll probably go for a little more, maybe 4$L/sq.m, but if you frequently do a lot of searching you'll likely find such land abandoned for $1L/sq.m especially towards the end of the month when people are getting desperate to get their tier down.  Land in more famous areas like Bay City will be really expensive.

[Ceera Murakami]

What they paid for it before the price of land crashed doesn't mean squat. I used to own land on a private sim that I paid plenty for. When I left that area I got far less than half what I paid for it. Today? I'd be lucky to get L$1 per square meter for the same parcel.

The price of land tanked a long time ago. There are people still holding land that they paid for before the crash, who foolishly hope the price will go up again, while tier eats them alive.

The only land that sells for decent prices any more are the double-primmed parcels in places like Bay City and Nautilus, (most of which are obscenely overpriced because of land speculators who paid insane amounts and hope to regain their investment), and land in the Zindra continent, simply because it is Adult rated, or because it is both Adult rated and double-primmed.

[Melita Magic]

2L/meter is not that bad a price, and they probably paid about 10 times that if they bought it a few years ago. Land prices plummeted in the past year.

I recently sold almost 20,000 meters for 19k. I dropped it to .97/meter and then it sold within a week or two. Before that it had been on about a month at just over 1L/meter.

But oceanfront or roadside or other nicer land will always go for a bit more. Also it depends on what the person buying it will pay. Sometimes you get a neighbor who wanted that parcel and sometimes you get someone shopping on a whim, and they will pay a FAIR price for it. I do not think 1L/or less is a FAIR price, it's just where land has fallen.

In the end it's what it is worth to you. But if you wanna be a mensch I'd say pay the whole 2L/meter, but YMMV.

Now don't get me started about people holding up development in the old teen grid by hanging on to land priced 150L/meter!  And they absolutely will not lower it.

 

[Curious Hazelnut]

Today I would not pay more than 1L/sqm for regular mainland, even if it was on a road or beside protected land becaue you can find abandoned land for that price. LL has essentially set an upper limit on the cost of land because of that policy change. I don't consider the market for double prim land remotely close to reasonable so my opinion there doesn't really matter.

If I really wanted a specific plot of mainland, I might go as high as 2L/sqm but it would have to be very specific to that particularl plot (like having friends with neighbouring land or a high traffic sim where I plan to open a store).

[Chronometria]

I`ve been following a topic on SLU about this and they have noticed that land is not being picked up by landbots till you make it 0.2 or less. Someone only got a landbot to bite his 512 when he auctioned it for 49 lindens.

 

We are now at the point where landbots have grabbed so much, that there just isnt anyone out there taking it off their controler's hands. They are now going to be destroyed by tier.

 

I picked up some land adjacent to a protected railway recently, to build a nice retreat on. The entire sim (nolidae) is covered in for sale signs at silly prices. Part of the reason i bought is just to see what happens and whether they will all be abandoned (it was a medieval town and has been badly cut up into parcels that dont match tier bands, so even though its horribly costly, nobody could buy it anyway as it is all silly amounts like 520 and 1070. Its a whole sim so the tier must be insane and every month that passes means abandoning it would have *saved* the land baron money.

[Knutz Scorpio]

The last 512 I got rid of sat for over a week at 0.5 L$/sq.m and from the traffic count I suspected it was being checked out and they were just waiting to see how low I'd go.  I changed the land title to "No more price drops, will abandon [date]" where [date] was one week away, and put in the desc something like "Buy from me at 0.5, or wait and buy from Gov Linden at 1.0".  The land was sold by the next day, and the current owner has been trying to resell it for well over a month now at 0.8

[Jonathan VonLenard]

not all mainland is equal though of course, as some said, oceanfront, etc... But i have a question about the old sims.  As a beta tester i'm partial to what i remember, and where I used to live.  so for something like Shipley, Jessie, Federal, etc... anything old, anything there when SL went live.  What are reasonable prices if anything there comes available?

[Qie Niangao]

I had to go back and see what sims were online when SL went live.  I'd thought that was much earlier, before Jessie even, but apparently most of the color sims were already up.  So, for example, Brown used to be pricy, but right now there are parcels for under L$4/sq.m. on that ("zoned") sim.  Similar in other color sims, Blue for example, that have +/-40m terraforming.

The really old, pre-Jessie, early beta sims... yeah, those still seem to command an extreme premium, and I really don't have any useful information about those.

[Pussycat Catnap]

Shermerville, a fairly old region, is still absurdly high in price for what you get.

But then again.. what you get to some degree is that only fellow nuts that want such a place will buy the spots next to you.

Zindra is still very high in price for many portions - despite about half or more of it being unused and half of that for-sale.

Otherwise there's a lot of randomness to it.

I've seen water lots that were super cheap, and ones that were insane. I've seen basic green land in a grid of lots, next to no protected land, with nearby builds that would scare away even a griefer - priced through the sky. And I've seen ultra special gems, perfect lots with amazing neighbors and great views, go for nearly nothing.

The market is just not at all stable. No one is really running anything to track it, or if they are, they're not speaking out about the results - so people just make guesses based on what's near them or threads like this one, and then lower, or even -raise- prices until they get a buyer.

 There are also quite a few places up for sale at a price that is set not by demand, but by the owner reflecting that while they don't need to sell, if someone wanted it that much, they would.

 

[Qie Niangao]

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Pussycat Catnap wrote:

Zindra is still very high in price for many portions - despite about half or more of it being unused and half of that for-sale. 

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Yeah, but lots of land on sale doesn't bother me anymore.  It would reduce the amount I'd pay for the land, seeing that much on sale in the neighborhood, but that's just because the more that's for sale, the more likelihood that one of those will become something dreadful when finally bought.

But at least the stuff on private sale is actually generating tier for LL.  It's all that stuff that's abandoned on the Mainland -- either explicitly shown as abandoned (for sale or not), or belonging to defunct accounts, or groups without contributed tier -- that's the stuff that is just a dead weight on land prices.  Even if the market suddenly turns around and everybody wants their own piece of Mainland again, there's a vast supply of should-be-abandoned land to use up before there'd ever be call to expand the continents again.

(I don't understand Shermerville at all.  It's really not that old, and it seems very generic compared to BC and NA. But then I feel the same way about Nautilus City, and it's still commanding huge premiums. I guess Nautilus is because of the Blake Sea proximity, although a landlocked Nautilus parcel doesn't seem to have much advantage for sailing over, say, a random patch of flat green Jeogeot.)

[Pussycat Catnap]

Yeah what I meant by that is that, with so much for sale, you'd think the prices would go down as people tried to get buyers to buy.

Its operating under a broken 'supply and demand' dynamic. Then again, supply and demand is flawed logic anyway - it assumes a 'rational actor' and there is no such thing; people act based on emotions of want / need / oooo piece of candy.

 Nautilus is -ALL- double prim land, so it should be somewhat high, but the level its at is absurd. Emotion. What bugs me about both Nautilus and Bay City is that even if you're next to the water, they put mole builds in your way making you landlocked. But if they removed those, most people who suddenly had access would not do anything consistent with it, and theme would get messed up... You'd get things like ocean beaches with jumping dolphins in the middle of Bay City's canals...

[Jonathan VonLenard]

Yeah Qie, I think the color sims came on just before or at launch.  Before actually because afew of them were given to groups to do themed builds for when it went live.  Our group had blue to build Americana.

But anyways yeah I want some beta land... .sigh, i'll wait.