Land Prices

People have the anecdotal impression that prices are dropping in the old world, with sell-outs to move either to Ansheland, Nexusland, or the New Continent. And it's true that you can find some bargains in the old continent now, but you can also find mature nice waterfront being very scarce now and therefore fetching $9.5L/meter.

I can't help thinking that most activity is in very new sims where people rushed in thinking they'd find pristine wilderness but then it got crapped up in a few weeks so they are moving to zoned communities or the "wilderness" of the New Continent even (although I don't see any big land rush there except around the edges). In older sims, things are slower moving and you still find people who have been in the game for months, slowly tiering up, buying up the sim with themselves and a few neighbours and trying to keep out griefing.

Still, the cautionary note here is that if you look at a "lower price" now in the old world that seems like a "bargain" you have to think about the other factor governing our world, which is the dollar/Linden rate on the GOM (or IGE).

Let's say you bought a parcel in Ravenglass of 1024 sq.m for $7680, back when the dollar was at $3.97/1000 L. That means you would have paid $29.49 RL money for it.

Today, if you go back and by the same parcel of 1024 for $7680, unless you are using Lindens you saved for months, you are paying $30.72 if the GOM is at 4, but more likely $32.79 if the GOM is at $4.27 which it has been at this week.

This becomes more evident as an issue the higher you go. A 4096 selling for 6 if the GOM is $4.27/1000 is $104.93. If GOM is at 4, it's at $98, and if GOM is at $3.87 as it was months ago, it's $95.

So the 4096 that sold for 7.5 once when the GOM was at $3.87 and garnered $118 in the old days isn't quite the bargain it might seem today even at lower numbers. It seems that the adjustments that are happening is that excellent waterfront or waterview mature that used to be findable at 7.5 or 7.8 or now more likely findable at 8.5 or 9.

But once again, this is anecdotal information because we don't have any kinds of town hall with deeds and records to really study what is going on with in-world sales.

From what I see, old world prices are still higher than they were a couple of months ago. Particularly, nice properties. The consumer appears to becoming more discriminating and is willing to pay more for unique properties. I've been shocked to see some PG land sell at over $10/m2 in small quantities in select locations. Snow is remains a very slow seller. Most of the bargain land now ( < $4/m2 ) is snow.

I don't see a mad rush to the new continent. Don't know about the private managed sims.

Even allowing for the GOM raising, I guess you could say prices are still higher but I would say only for mature prime waterfront.

I'm seeing mature go for 5 and 6 even good-looking mature with good views. Even Anshe (specially Anshe?) has some good mature at 7.5 and 8 and I've even found some for 6.

I think there are people willing to pay more as more people come in the game and get their sea legs and figure out that rushing to brand-new sims can be a really risky venture, and buying in old, developed sims where the views are not going to become surprises is a good idea.

Where does PG sell for $10? By a telehub? From one pesky neighbour to another who really needs it because it links well to his parcel? I am seeing no more than 5 on PG, more often 4. I've picked it up wholesale for 3.7 or even 2.7.

Snow is in the toilet. I see Buster's snow going for 2.7 -- what a bargain! Someone really should pick up Buster's snow. It's a beautiful big parcel and you don't have to do cliche Alpine things on snow.

I don't follow Mature very closely. But I've seen various waterfront no-snow PG lots go in the $5-$6 range. Sometimes more. The $10/m2 (actually more than this, but I never did the exact calculation) was a very nice island about 2 sims from a telehub.

It's hard to determine exactly what's happening because a lot of speculation is going on. And it just baffles me why sims like Heaton with it's nice roadside/riverfront land can't settle down. Okay, it's snow, but great location, nice views. I can understand why it's cheaper, but why can't it find some nice owners to take care of it.