How low can you go.........

I am so sick of loseing money in SL. Land prices has just completely dipped at a point when I am trying to sell a whole parcel. I am now down to less than 8L$ per sq m.

Anyone know at what point the landbots kick in?

I want out now

Real estate can be a tough gig sometimes, but you should stick it out. Didnt hear you complaining when prices were on the rise... you need to learn how to get out when the market is about to correct, then buy up land when you think it's about bottomed out. A friend has just got into the market, and she's doing ok... sometimes you need to take a bite to get out from under something you paid more for.. it's just part of the biz.

Bad time to want out.

Landbots normally kick in when you sell below the current base price. I didn't check it tonight, but it's been 6.3 - 6.8 the last couple of days when I looked.

A little lower than the L$/m2 price in Search->Land. It's at L$6.4/m2 right now.

What an amazing insight you have into SL

Wish I had the ability to state the bleeding obviouse

different landbots kick in at different points. start at %5 below and work your way up to 10% and a bot will snatch it up.
you can get a better price from a neighbour though. first you should IM everyone on the sim and offer them your land. what is worth $8m to most ppl will be worth $10/11/12m to somebody already on the sim.

Well, if it's so bloody obvious, why didn't you do it? If you had you wouldn't be whining now.

Oh Christ! He's back!

You shouldn't attack the poster, if for no other reason, why did you make the post? To gain tea and sympathy?

From what I see on the forums, there isn't a lot of love for 'land barons' etc... They are blamed for high land prices, revolving and obtrusive rotating 'For Sale' signs blighting the landscape etc... Even if you don't fall neatly into that genure... bleating about low land prices in a deflated market, is flogging a dead horse.

hindsight is 20/20. if he bought land at $10/m how was he to know ll would dump sims to the point of lowering mainland value by nearly half?
did you?

i think the term 'land baron' is tossed about too freely on this board.

yes many would just call it the Penguins coming home to Roost.

7.8 L/sq m

.

I never bought land with the idea of making a profit. And anyone doing so should have known that LL would carry on creating new sims. It how they make their money.

ANYBODY ...in the land market is suffering right now unless you are buying, at some points there was land cheap ... it got bought and sold at a profit....

Now there expensive land which is sold at a loss or held..... its called business. And you do have to take the rought with the smooth. Certainly I can still fly around and see LOTS of 1024's going for 24k and above ... of course they will NEVER sell, but i have also seen somebody pay 10k for a 32sqm plot becasue they wanted it.

Land is a speculative market with no real product and profit margins based on supply and demand rather than value. At the moment there is LOW demand and HIGH supply, I feel the days of 20psqm have long gone, the days of Land "barons" arnt so good either and we might even see the time of when MOST land is owned by the person using it rather than a flipper.. i do believe we need land traders etc . but times are tough atm and you will have to weather the tide as im sure it will all work out eventually

How do you feel about 'land knights'?

How about :

Property Dukes
Soil Marquesses
Land Earls
Real Estate Viscounts

of course i expect sims to be released. but i didnt expect ll to intentionally tank the market.
intentionally.

i like the term land knight. it sounds so honourable.

what bothers me is 'land baron' is a dirty term, and its applied to anyone that turns over land, even people that only carry half a sims worth of tier are called land barons anymore.

Agreed!
If LL won't sell anything smaller than a sim (auctions of reclaimed/abandoned plots excepted), then someone has to pony up and take on whole sims.
They have to carry the risk of being stuck with tier on unsold land. Someone is paying tier for all that yellow map in Corsica. If they can't sell what they are taking on at auction in a timely fashion, then nobody is forcing them to buy more.
Those that bought sims earlier in Corsica at higher costs should have seen the flood coming and sold off at cost price while they could do so.
I can see at least one of the early sims in which the owner had tried to get a huge markup. Most of it is still unsold. The owner seems to be in denial. Their money is tied up in the unsold/unsellable sim, preventing them from getting into the action of the newer lower-priced sims.

The full Corsica map is on display in Linden Land Services inworld office foyer. There is still twice the currently installed area to come. Even with *only!!" 10 sims auctioned per day, I don't see prices climbing significantly for a bit yet




The 'land dealers' who make me want to puke are the land flippers, large-scale or small-scale, who buy in order to put the same plot back on sale immediately for a markup. They do not add value to anything. They simply increase costs for everyone else. They introduce layers of expense between the original sim buyer and the person who eventually settles on the plot. It's all legitimate of course in RL as well as in SL. -- Legitimate but parasitic.
If this type gets wiped out by LL's dumping of sims at auction, then tough. What makes them think that they are entitled to a guaranteed profit?


Pejoratively labeling both types of land-dealer as Land Barons can be a tad unfair to some of them.

wow thats pretty harsh.

Apparently not obvious enough for you to have dumped you land when you should have.

the obvious bit is "sell high".
the not so obvious bit is "is it now high".
also the op suggests that he was was not planning to sell at that time, and is now dismayed at the fact now that he has decided to sell his sim hes discovered it has been devalued to such a high degree.
landbarons and flippers arent really factors here hey.

Unless you are in a serious cash crunch, I would just hold for now and maybe increase holdings. I suspect another rise in population as the friends, relatives, co-workers of the second wave (Oct 06) immigration start joining. Should be a geometric progression of population growth after that. It takes time for people to stop thinking that SL is weird and their friend is insane for being here and checking it out themselves.

Unless LL's dreadful new Orientation experience drives them away!

i'm looking to buy 1024. this seems a good time, if only i can get inworld without RL interuppting me. LOL