How low will land go?

Just checked the selling price of land on the metrics. Its now down to 6.09 per square meter in October so far.

How low do you think land will go?

6.09L per meter is up from a month ago when I last checked. I saw the cheapest land go for $5.8L per meter then.

Anyway, a bit of anecdotal info for you. I sold a parcel yesterday for $15.75L per meter. It sat for less than a week before selling so it would seem that the market might be going in another direction.

Then again, maybe I was lucky.

Prime parcels will always draw a premium. But for cheap flat green nondescript land, it is a different story.

I like cheap flat nondescript land. You can put tons of nice trees around the edges and live in the middle pretending there's nothing too ugly to look at around you.

When I joined 6L$ per sqm was considered top whack ...

I don't mind it either. But when I joined, land was going at about 12-15L/m2. My how things have changed.

i, for one, am happy with the low prices. i'm just about ready to buy some 1024 waterfront.... if i can ever get inworld.

i might sell my mainland too. i don't like my new ban-line-happy neighbors.

1/2 of Shark is up for sale. that's a huge chunk in such an old sim.

*pops pipe in mouth*

I remember back when I bought my first 1024 sq m parcel for L$4500 in Webworm...

*falls asleep*

True, but the market is very much dependent on what LL does. VAT is driving the market down right now. It was up as high as 6.5 last week. How many new sims is LL still to put out? What new land use restrictions or taxation do they plan to add to the TOS? Does LL plan to up tier fees? These are the issues that drive the market today.

LL needs to be more consistant. I'm not saying they should let the land market sour to 16 per like it was in the first quarter of the year. While that might be good for me as a realtor, that would not be good for SL as a whole. Rather, a better way to do this would be to consistantly put out X number of new sims per month, and do their best not to waiver on that. This would allow the market to stablize and for land prices to grow in a healthy manner, rather than soar and crash on a regular basis. Adding new restrictions should be announced earlier, when they are the consideration stage, so businesses or residence can make decisions based on on their next tier date, but their long term SL goals. Same with fee increases or taxation issues. VAT didn't magically appear in the EU. There was warning the EU was planning it. There was warning before it became effective. There was the normal process of creating laws and regulations. In SL it was virtually overnight, even though LL claims they spent weeks talking with lawyers on the issue. They should have warned the community they were discussing the issue with lawyers, before they implemented it, and they should have posted updates on the blog.

Again, this is all assuming LL wants a healthy economy and land market in SL. If their goals are different, the land dumping and regulatory ambushing is a reallty great way to manipulate the market negatively.

You were lucky.

No one knows how low it will go. That's why very few barons are buying. The impact of VAT is just starting to be felt. One thing is for certain. There is nothing that will drive prices up for a while, so there is no rush for people trying to time it right to get a bargain. You have at least three weeks to get land at a great bargain compared to prices people have paid historically.

0 meters. After that, it becomes water.

Yes, but that is still land under that water. How deep can you sink that land? +-0.3 meters?

Noob!

I remember getting about 8000k for an average of L$2/sqm in the snow sims. Ah, the good old days.

"Anyway, a bit of anecdotal info for you. I sold a parcel yesterday for $15.75L per meter. It sat for less than a week before selling so it would seem that the market might be going in another direction.

Then again, maybe I was lucky."

Last week I sold a parcel for L15.41/m2 in 3 days. Quality location is very important, there are still many buyers (like me) that are not looking for a cheap junk land.

You're my hero.

Noob!

I remember buying land when Guv'nor Linden was selling it at L$1/m2. We also got L$10 for returning lost prims (really!). Need 1024m2? Just find 102 prims fallen under the ground.

That, of course, was when there was land available for purchase which usually required the addition of a sim to the grid (party time!). Big time excitement when Immaculate was added.

Ick! While looking for the ol' homestead I found the sims of Rosedale and Kapor which I hereby dub "The Vanity Sims". Unsurprisingly, The Rosedale sim is devoid of any content at all, save a single plywood box. Sometimes metaphors are just too obivious to warrant writing down.

That's why the first thing you should always do when wanting to sell your land is list it at a fair, yet higher price and see if someone else in the sim needs more land or prims. Its a good idea to IM the neighbors as well. Anybody on the sim is a prospect.

"That's why the first thing you should always do when wanting to sell your land is list it at a fair, yet higher price and see if someone else in the sim needs more land or prims. Its a good idea to IM the neighbors as well. Anybody on the sim is a prospect."

Yep, I did the first part - "list it at a fair, yet higher price", sorry Ray, I didn't inform my neighbors (you?) - I never do, it's their job to check if they really need more land or prims. BTW if you personally contact someone or s/he contacts you it's always a signal for negotiation which means the land should be priced much higher so you can get down. I hate this part and personally prefer to list at a fair price for a quick sale.

Exactly so. This way both sides win: You get a (slightly) higher price and neighbours are happy!

I just sold ~10k sq that way. IM'ed the neighbours and then set up the land for sale exclusively to them if they were interested. Nobody wanted to negotiate. They were more than happy to get their favourite parcel

No it wasn't me. I have all the mainland I need, thank you. Was just giving a general tip that often worked for me back when I was dealing land. I have had several instances where people in the same sim were interested but would not have known about the land for sale if I had not contacted them.

Ah, but my plot in web-worm was a 20 seconds flight from the telehub the next sim over, and had a lovely lake view with no spinning ads

A friend of mine got some land in Koss for about L$10,000 for 4096sq m which they expanded as we put more stuff on it.

Just curious about where You considered 15.4 a fair price right now.

1024 at 15L/m - about US$60 (ish)
1024 at 6L/m - about US$23 (ish)
*Once-off* extra expenditure - about US$37 (ish)

Ongoing tier - No difference
Quality of views and direct access to a a group of Linden water sims for sailing, flying, looking - No comparison.

How fast can you blow US$37 in RL? A meal, a few beers?
That's the difference between a 1024 in the middle of gawdawful, and a 1024 with a Linden ocean on at least one boundary.

2048? Still not a huge RL hit.

Looking around Corsica this past week, it seems to me that land value (certainly waterfront) has risen over the past two months.

I put my land there up for sale because I saw one with more protected sides on Eel Bay. Plus the sim has a great name. I figured I'd sell my parcel, and use the proceeds to buy it.

Anyway, over the past ten days, I had not one, not two, but THREE different people ask me if I'd reserve my parcel for a few hours while they raised the $Ls and they all let me down. My latest yesterday. My neighbours must wonder WTF is going on. One day it's for sale, the next it's not, then I got let down so figured I'd split the land into smaller parcels (not 512s or 16m2 or anything ) to see if that would help it sell more quickly...then another guy contacted me and said "I'll buy the lot, set it to sell only to me!" Grrr.

I've given up now. Eel Bay land sold to somebody else, and I'll never reserve my land for anybody again. If I ever put it up for sale, it's first person with the $Ls gets it.

Haha. That's how I consider it. I can easily spend double that on a Friday or Saturday night out, so what I can afford in SL tends to be compared to what I can afford on other types of entertainment.

When I saw that Protected water coming up in Corsica, I decided to dump all my old land and go for that. I was lucky enough to get good prices quickly for what I sold. It was roadside and waterside, and this was before general prices went into freefall.

I dumped one plot at a loss just to free up tier ASAP.
A loss? OMG ...... 10US$ .. a bottle of plonk .... which just became part of the one-off hit to get much better land.