The Real Estate Thread - Snowy Mountains Edition.

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WaitAwhile

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And fix the housing shortage.
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).
 

Undies

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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.
 

skichic

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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).
My tongue was firmly in cheek.
 

Jacko4650

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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.
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.
 

Telemark Phat

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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.
 
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WaitAwhile

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Seems to be the same all over Oz when Councils merge. They go from being genuine "local" Councils to big, inefficient behemoths at which point I wonder why we still need three levels of Gummint!
What are SMRC spending their money on, cos the potholes and other areas of neglect don't suggest it's on the ground.
Back to the thread - wonder if the interest rate hike(s) will slow the market around here? Markets in the capital cities already flatlined. I forecast one final group of about-to-retire city slickers punching out for the lifestyle move; even if property prices fall by a few percent they are still sitting on gold mines so will have a lot of buying power.
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.

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:

"Both the modest rate increase and no increase options would mean Council has no choice but to cut and reduce services, community facilities and staff.
"The option which includes a higher increase to rates over the course of the next ten years, would mean Council is able to continue its path to a balanced budget."
 

climberman

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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.
Isn’t multi story still residential?

For better or worse, in NSW you don’t really own your view.
 

Telemark Phat

Pass the butter
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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.

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:
Before amalgamation Snowy made a modest profit. Now we have this shit. Fire all the upper and senior management for a start.
 
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dawooduck

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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.

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
 
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Jacko4650

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Isn’t multi story still residential?

For better or worse, in NSW you don’t really own your view.
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.
 
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climberman

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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.
yes.
 

Telemark Phat

Pass the butter
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www.telemarkphat.org
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.
Too bad nimby.
 

Jacko4650

One of Us
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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?
 
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Billy_Buttons

Part of the Furniture
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We bought the wrong view as this is the one for the rels....

1651934398504.jpeg
 

dawooduck

relaxed and comfortable
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This one is worth looking at. Prime Rushes Bay frontage.


Rock solid 70s build with an excellent renovation.
 
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skichanger

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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.
 

dawooduck

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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.
 

Jacko4650

One of Us
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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.
Scary. Well done for being diligent. Buyer beware.
 

Myazma

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This one is worth looking at. Prime Rushes Bay frontage.


Rock solid 70s build with an excellent renovation.
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.
 
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dawooduck

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Scary. Well done for being diligent. Buyer beware.

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.
 

skichanger

A Local
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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.
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.
 
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dawooduck

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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.
 
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