The Real Estate Thread - Snowy Mountains Edition.
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It actually doesn't have a housing shortage , there just being advertised on the short term(holiday) accommodation websites.
The issue right across the country is very poor policy at a federal level .
We voted for it at the previous election and lot of people didnt like it.
Until people really get there heads around that , it aint gonna change.
Local and state governments are basically powerless to stop anyone from buying a property using negative gearing , and then just putting it up for rent on a holiday website.
Why would an investor build a new home and then wait 4-6 months before he sees any sort of return , when he could just buy a 20-40 year old house or apartment and get almost an immediate return on their investment.
Even a very well known real estate agent in Jindabyne told us recently that with the rental returns on recent sales over the last year, its madness to put it up for a permanent or periodic(16 week lease).
Jindabyne desperately needs some quality hotels to take up the Sydney market. The last "quality" hotel built was Horizons, which was nearly 30 years ago. There is nothing even remotely appealing to stay in.
Jindabyne would do extremely well to approve the development of some quality accomodation, and in doing so it will take the strain off the housing market.
There are so many legitimate reasons to dislike council, I'm always amazed people put effort into inventing them.
Medium level high rise developments are planned in East Jindabyne according to the SAP, in locations that will block views of the residential houses behind them. Dem smart fellas, those SAPers.
There is a bit of a protest movement happening atm trying to re-arrange the zoning so the multi-story development is at the back, residential at the front and green corridors going from the highest areas right through to the lake. I like.
JERCS are the worst kind of nimby, Yogie nimbys. Putting the medium density buildings on top of the hill won't block any views, the hill already blocks the views.
The whole area is suffering changes due to development, East Jindabyne should suffer that burden as well.
Just come across this on the ABC website
Looks like the SMRC is running out of money and one of the proposals was to jack up rates by about 9% annually over the next 10 years or cut back on staff or services.
It think they called it equalization , but once the Snowy River Shire merged, our rates just went up and up and up, very quickly.
And the idiots in charge in Sydney were saying it would amount to more economical councils , offering a better service.
Residents stunned by massive rate rise proposals at two NSW councils
Bega Valley and Snowy Monaro councils have both taken steps towards implementing a proposed large rate increase to address what they are calling rising operating costs.
www.abc.net.au
Snowy Monaro floats rate rise
The Snowy Monaro Council also voted yesterday to release plans to increase its rates, with one of the four options proposing a rise of up to nine per cent per year over the coming decade.
In a statement, the Snowy Monaro council said:
Isn’t multi story still residential?
For better or worse, in NSW you don’t really own your view.
Before amalgamation Snowy made a modest profit. Now we have this shit. Fire all the upper and senior management for a start.Just come across this on the ABC website
Looks like the SMRC is running out of money and one of the proposals was to jack up rates by about 9% annually over the next 10 years or cut back on staff or services.
It think they called it equalization , but once the Snowy River Shire merged, our rates just went up and up and up, very quickly.
And the idiots in charge in Sydney were saying it would amount to more economical councils , offering a better service.
Residents stunned by massive rate rise proposals at two NSW councils
Bega Valley and Snowy Monaro councils have both taken steps towards implementing a proposed large rate increase to address what they are calling rising operating costs.
www.abc.net.au
Snowy Monaro floats rate rise
The Snowy Monaro Council also voted yesterday to release plans to increase its rates, with one of the four options proposing a rise of up to nine per cent per year over the coming decade.
In a statement, the Snowy Monaro council said:
The SAP with a road on the spine of the hill is a bit of a desktop design though and that high density mess that went in along the creek would raise some concerns.
Stralya a vision less development waste land.
Lake of the Ozarks 2035
When people choose to live in a place other than for work, it is generally for lifestyle. Jindabyne could be like any other country area, but it has snow covered mountains in the distance for 3-4 months of the year and for 12 months it has a dirty great big Lake. Most view across the lake come with unimpeded views of the highest mountains in Australia (we don't have many). It's kinda important as you sell up and move to/invest in the Jindabyne community. Were those views (aka "values") somewhat 'altered' by a multi story 'residential' building afore, you might as well buy into a rural area with no views. Views are not everything, but they certainly change the value of real estate, so the general public have serious opinions about buildings impeding views. Jindabyne is not Paramatta, where one might have an impeded view of . . . . the next suburb. Jindabyne is now being master-planned and the East Jindy area we are talking about is currently uninhabited as distinct from an existing residential area, so I think it best to plan on the side of common sense. High rise or multi story residential at the back. I wouldn't have any issues with higher density at Lakefront, just not higher-rise.
What does that mean in Engrish? Perhaps I'm not into yuppy lingo? Is yuppy even a thing any more?
You've never heard of a nimby? Really?
Considering I'm not urban I have to question your intelligence. If you're going to call someone a name you should at least have some grasp of what that name means.
No I haven't. I have no idea what you are talking about. Can you add value to any conversation or just be negative, unconstructive?
Keeping an eye on the grandparents.
Gotta maintain that local status. A grave robbing would be ruinous for your place on the Jindabyne social ladder.Keeping an eye on the grandparents.
You just wait until the Mausoleums and the Crypts move in
and hopefully you will get enough snow so you don't need to use the steps!New Pad for season 22
Careful, you have some pretty dodgy neighbours.New Pad for season 22
This one is worth looking at. Prime Rushes Bay frontage.
21 Rushes Bay Avenue, East Jindabyne, NSW 2627
Sitting on a large 1,076sm lot with immediate Lake Jindabyne frontage and spectacular lake and mountain views is this family home with an attached separately metered (gas and electricity), income producing studio apartment.The top floor has 3 bedrooms, 1 bathroom with separate toilet, a large...www.kfn.com.au
Rock solid 70s build with an excellent renovation.
We were trying to buy a block of land recently. Paid $1k holding deposit. Was for 100 acres being subdivided off a larger property. 2 months later our solicitor received a contract. The other side wanted some changes but we did not receive a contract with the changes. Last week we were advised the property had been sold to someone else. We had to ask for our deposit back.
Because it is a rural property there is no cooling off period. There was no survey so exactly where the boundaries were was unclear. It was plus or minus 5%. If under it would not have a building entitlement. There was a dam we were told was included. Off the record we have been told the dam is not included.
I suspect someone else has not done their due diligence and may have spent a lot of money for a block they cannot build on.
Contract must stipulate 40ha+ for dual occupancy RU1 and survey must be complete to finalise sale.
I suspect the other party signed a contract to that affect.
If its one of the blocks I think it may be then .... agent is nobodies friend. Holding deposit is a nothing burger.
Was sold for 1.6m early last year(from memory), they have been renovating this year. Shit neighbours, well the bloke across the road is. No. 10 is also up for auction.This one is worth looking at. Prime Rushes Bay frontage.
21 Rushes Bay Avenue, East Jindabyne, NSW 2627
Sitting on a large 1,076sm lot with immediate Lake Jindabyne frontage and spectacular lake and mountain views is this family home with an attached separately metered (gas and electricity), income producing studio apartment.The top floor has 3 bedrooms, 1 bathroom with separate toilet, a large...
Rock solid 70s build with an excellent renovation.
I suspect the buyer was more "diligent" and secured the block. Those "under subdivision" blocks are an interesting process, agent/vendor shenanigans but not misrepresentation on size and zoning.
No one signs a contract that doesn't include block size and final survey/title reflects the contract.
Fences may require work but fences are not paper boundaries.
Rats abandoning a sinking ship. JERCs unhappy about SAP. Generational change about to occur in East Jindabyne.
Well these people have because the survey was not completed prior to the contract being signed and it was plus or minus 5%
And we repeatedly advised that once we had these we would exchange. But they refused to provide them.
Agent/vendor shenanigans.
The fence line may be +- 5% but the block size if sold as a 40ha RU1 dual occupancy would need to be surveyed to 40ha+ prior to settlement and new title drawn up.
We experienced all of the above buying our block, took a year to get a contract we could sign as the vendor stuffed about. In this market we would probably would have lost the block as you did as I speculate the agent/vendor took the easiest buyer/higher offer path.
The agent started showing others our block without our knowledge (with full deposit paid) as we caught them on the block the weekend we came down to finally get the contract signed and that took all weekend of hands on due to the complete ineptitude of everyone on the other side of the table.
The whole thing was a complete mess until I kicked into "I am not leaving until you fix this you useless fckers" mode. The final contract they presented on that weekend contained a huge and ridiculously obvious typo so back it went for a redraft.
Vendors of these carve off blocks often never want to spend on the establishment costs (survey, access, power, fences) so they try everything on to avoid. Agent just wants highest price, highest fee, least work.
There is a huge difference between real estate approach and trust and I suspect I know which one fcked you over.
In our case the vendors local legal firm was an utter hot mess, real estate shifty as and the vendor .... horrible person.Last edited:
Quite a few local people cashing out and who can blame them with the money being thrown about.
Welcome to boom town
Jindabyne East Residents Committee. Instrumental in stopping the hideous DA off Rushes Bay Ave a couple of years ago.
