54th Place Investments CEO Shane Richard Roybal takes a closer look at just some of the many challenges of selling a multi-million dollar home amid a global health crisis.
Amid unprecedented market conditions, industries across the board, both in the U.S. and overseas, have been hit hard in the grip of the continuing global coronavirus pandemic. The world of real estate has, according to expert Shane Richard Roybal, suffered especially hard in parts, with multi-million dollar homes posing a particularly tough sell in recent months as the virus has taken hold.
“There have been numerous challenges surrounding the sale of multi-million dollar homes during the pandemic we’ve experienced this year,” explains Shane Richard Roybal, CEO of 54th Place Investments, a leading full-service design and build firm based just outside of Denver, Colorado.
The first challenge within real estate
equitynet.com/c/shayne-roybal says, has been uncertainty in the market. “Uncertain market conditions are rarely a good thing within real estate,” he explains, “and the resulting conditions, particularly in terms of finances, stemming from the ongoing global coronavirus pandemic, have been no exception.”
Social distancing measures have also hindered sales across the board, including the sale of multi-million dollar homes, throughout the pandemic, 54th Place Investments CEO Shane Richard Roybal says. “With in-person showings banned, there’s been a switch to virtual tours,” he explains, “with FaceTime and other technologies also being used to market and sell homes.”
It is, perhaps, however, a decline in stock holdings, coupled with tighter lending standards for large mortgages, that have hit the sale of multi-million dollar homes, in particular, the hardest, expert Shane Richard Roybal suggests. This year’s unusual—and complicated—market conditions have affected buyers, sellers, and developers alike, he reports.
Yet despite adversity in the market, business at 54th Place Investments continues to go from strength to strength. The Denver-based company recently joined forces with Superior Image Construction and is now regarded as one of the Midwest’s top modern home developers, according to Shane Richard Roybal.
In fact, in July, Shane Richard Roybal and 54th Place Investments secured a record $2 million sale price for a new-build home in Denver’s thriving Sloan’s Lake neighborhood. The firm and its CEO also recently announced news of a second new project in the neighborhood, now available for presale. With excellent transport links to the bustling heart of the city of Denver and beyond, luxury homes in Sloan’s Lake—many of which boast both mountain and downtown views—have never been in higher demand, Shane Richard Roybal reports.
Designed in the much-sought-after Scandinavian-style, the latest Sloan’s Lake property from 54th Place Investments promises a sleek and modern look that’s both cool and contemporary, as well as inviting.