Bay City Land Value -- Worth L$140/m2?

I won an auction for a 256m plot in Grignano years ago. I paid $28.00 USD. Its good to get double prim land when its cheap.

'Happy' isn't exactly the right word.

Someone said something earlier about fools and their money...

Who is going to buy it from them? Other land flippers. Or idiots. But, while this is SL, there aren't _that_ many idiots out there. Eventually, a land flipper will fall.

I'll be happy when they choke on the tier and have to abandon or take a huge loss.

I hear you. If you buy sims and resell, that's fine because you're providing a service; LL doesn't release new land in parcel-sized bites anymore, so that's how people get new mainland. If you buy land from existing residents and resell it, you're providing a service to the sellers, who otherwise might have to abandon or sell for a stupidly low price.

If you buy a limited-quantity, desired parcel at auction for the sole purpose of getting there first so you can profit off it, you're nothing but a parasite; you're not helping anyone but yourself.

Yup. I'm going to keep half an eye on it all, just so I can see it happen and laugh when it does.

The other interesting thing I've noticed about the land in Bay City is that the plots are often sized to just break into the next tier level if that's all you owned.

I don't think anyone is happy about dat. I know I ain't. They ain't gonna be neither when they lose money on 'em.

There really *are* limits, an dat limit is "what the market will bear." So land flippers have fought each other into paying more for plots than their customers will be able to pay.

Sad, really. I did want a plot there. I'm not paying a land flipper no matter what.

Meanwhile.. what could have been? A "community" of passionate members, wanting to make a themed area, willing to create somethign better than a world of ad plots and spinning "for sale" signs.

Happy? No, that's not the emotion. Disgusted comes close. Saddened, too.

Mari
(Who will now refer to this as "the Bay City bubble"

It would be nice to have a rule that you have to own the land in Bay City for one year, and that after that new owners must own for three or six months. Something like that.

This would be a good time for a land developer to launch a real community along these lines.

I know you wanted land there badly Mari and Im so sorry people dont use sense. Basic common sense tells you no one will pay those prices plus more to flippers so a project bellies up due to greed.

I still do sorta want land there -- but not nearly as much as I did before. The plot I wanted, as well as a second one I was thinking of if I did't get the first, are currently up for auction, though my little (and still over regular levels) bids are long since trounced. As my competition is greedy and very stupid land flippers, well, I'll forget dis particular dream.

Mari

a friend of mine is looking for land there and has been watching some of the more outragous plots, we were chatting about it last night and he just sent me this im:

"Hey Crunch I thought you'ld like to know a piece of land (960M) is up to $L 254,000 so far and there's still 20hrs to go!!!!!!!"

thats like 264.5L per sq meter

-Crunch

Reselling at $282 per metre.

I can't work out why a 1344m block at $1400US is worth more than a whole new sim at $1000 US
Hope they choke badly and SL do something to stop it.
Poor moles thought they were building a community, but it's just land flipper city.

I'd have to say that my hopes for the place, that it would be anything like the genteel development promised, have totally collapsed.

Well the people that pay that amount of money for their land will definitely respect it.

Ya, I do feel sorry for the LDPW in this. They put a lot of work into it, had big hops -- only to see this disaster.

WIll SL do someting to stop it? I kinda doubt it. They're committed t this point. I could ee them halting auctions for a while, but other'n dat? not so much.

The flippers, though, are gonna take a bath in Daley Bay Is there anyone here who can see how they're gonna profit? If so, how -- cuz I jes dun see it.

Mari

Yes! Muhahaha! Choke on your $5 per month of tier fees for that 1024 you bought. Choke and die! How will you be able to afford to feed yourself after being lumbered with such staggering expenses EVERY SINGLE MONTH! HAHAHA!!!!

In all seriousness someone who can drop a couple of Gs on imaginary land isn't going to balk at a few dollars of tier fees. If you're waiting for them to "choke on the tier" then I hope you're ready to wait years.

A much more community-friendly way of getting residents for the Bay City would have been a resident raffle. Price them all at 8M per meter and choose people randomly to take them. And make sure 30% of the ones chosen are under 30 days old (to replace the sadly scrapped first-land program).

I think its not going to be the tier they "choke" on so much as dropping that much cash in the purchase and expecting to recoup is quickly.

If they overspent, they could find themselves in a bad place, tier or not.

Mari

Yeah, but is this one of those scams where you buy all the land without forking over any real cash first up hoping to offload it before abandoning the alt?
And can they afford 20 sims worth at $1000US a plot? Then 10 sims worth of tier seeing it's half-space land.

I think they'll find they get told to flip off.

Not sure about that, Zee once said in a blog that they could accept tier in Linden dollars if they wanted to.

I'm hoping that it'll just calm down a bit after they get a few sims out of the way. If not, I welcome LL to drop more sims down as long as people want to pay the silly prices but I won't be going back. Yellow land & For Sale signs is boring, despite all the great work the Moles did there.

Elanthius' assessment is dead-on correct.

But it's even worse.

The Company paid a lot of money for some top-shelf people to develop that area. Not cheap. And not just the moles. Think about it.

Even at stratospheric pricing (SL terms), by the time you factored in the development time it's a wash, or worse.

* * * * *

The trouble is, everyone is getting a parcel with an *idea* of a wonderful city soon to rise there. And surely, on much of it, it will.

The question is: how many disaster-lots does it take to kill a region / city block?

One bad enough one, perhaps.

I really wish they had some... any... covenant for that land. Prisoner's dilemma game. Most obnoxious carries the day - not exactly winning, but preventing everyone else from winning too.

We shall see. I know what would happen to an urban area in Caledon if left it unattended (which is why I don't). Let's hope the high rates will instill a bit of pride in Bay City.