Updated: 26 March 2020 | 4:00 pm CST

StoryBuilt will be updating this page regularly.

See below for Homebuyers, Homeowners and Investors Frequently Asked Questions (FAQs)

StoryBuilt COVID-19 Response Letter

Relevant News
BEN BERNANKE (3/23/2020)
Not Really Expecting Financial Crisis
FORBES (3/21/2020)
HomeBuilders Face Effects of Coronavirus
NY TIMES (3/13/2020)
Buying a Home During a Pandemic
Frequently Asked Questions.

Last Updated: Tuesday, March 24, 2020

  • We're Building & Selling
    For all regions - we are WORKING - carefully! In communities with shelter-in-place restrictions, commercial and new home development may be exempt. We are in communication with all trades. We are taking CDC guidelines seriously, practicing social distancing as mandated, and we are moving forward with ~20 closings by the end of the month through virtual meetings, tours and other digital platforms.
  • How can I view homes virtually?
    We are offering Connected Tours and tiered approach to touring new homes. Thanks to great new technology tools, we are able to offer video tours live or recorded. See linked flyer for more details.
  • Will COVID-19 impact the timeline of home delivery?
    That may depend on where a home is in the construction process. For homes nearly completion, we do not see a material impact at this time. Residential construction and trades continues albeit at a reduced pace in some areas. Our team is able to offer virtual homeowner inspection walks to keep the process on pace. Where do anticipate certain delays on new construction as various city and bank inspections, permits, etc may be impacted.
  • Interest Rates
    1. Rates dropping (50 year low)
    2. Respond time slower (pent up)

Last Updated: Monday, April 6, 2020

  • What about my open warranty ticket?
    1. Active warranty tickets will be placed on hold, except as noted below.
    2. We will still respond to emergency warranty work.
    3. We will continue exterior work where deemed safe and consistent with the policies of our trade partners.
    4. We will begin proactively scheduling customer walks and some warranty work for a few weeks out and adjust as needed on a weekly basis.
  • What about submitting new warranty tickets?
    1. Warranty Portal
    2. Please continue to submit warranty tickets as issues arise. Photos and detailed descriptions are especially helpful during this time period. We are still here and doing everything we can to be ready to resume services when able.
    3. Valid warranty requests submitted within the warranty period will be honored when we're able to resume full operations.
  • What proactive measures should I take with my home?
    1. Make sure to register your appliances to maximize your warranties through the manufacturers.
    2. Make sure to change your HVAC filters monthly.
    3. Run bath fans while showering or generating humidity. Run kitchen exhaust when cooking to avoid excess moisture and humidity buildup. This is especially important during times of increased occupancy.

Last Updated: Monday, March 23, 2020

  • Do you know how / if this will change StoryBuilt's ability to obtain bank financing?
    We are in daily communication with our banking partners, many of which we have had for 5-10 years. Most provided similar verbatim guidance for credit requests: 'Please reach out to me directly if you need to speak about your current credit facility or would want to access additional credit and we will continue to run our standard approval/closing processes.'
  • How / will this adjust your pro forma and projections?
    It is possible that sales will experience a slowdown in the short-term. However, we don't believe this will materially impact our sales in the medium to long-term. Closings are currently still being scheduled. As it relates to pro formas and projections, it is too early to determine. We will circle back at a later time when we have more information to provide supported guidance.
  • As a vertically integrated company, will there be any changes / impacts to the timeline for entitlements and design and how will that affect my investment timeline?
    With investments made over the last few years, our entire team can work remotely, including our architects and development team. Our schedules will only be limited by consultants and/or municipalities, which we are evaluating at this time. We will keep you up to speed as we learn more.
  • Do you anticipate construction prices going higher or lower?
    Oil prices going down may somewhat offset the supply chain impact, but we anticipate in the short term that prices will go up once the world goes back to work. This should improve everyone's supply chain resiliency in the long term. Housing continues to need more labor to meet the shortage. In short, while we don't see prices going lower, we expect more efficiency and better planning to better predict and manage increases.
  • Are any of your projects going to experience delays in progress (acquisition or construction)?
    Acquisitions: we are evaluating all of our options with sellers, lenders and equity partners. As for construction, it is too early to tell. If sales slow down for an extended period, we would slow construction. We evaluate daily and and will keep communication open.
  • Have your sales on your other mature projects slowed or remained on track?
    Sales have slowed in the last week. We have contingency plans in place for a leading virtual sales effort. We will keep you posted as we know more.