AUSTIN, TX--(Marketwire - Aug 1, 2011) - Econohomes, the leading online source for wholesale investment properties, now offers fully renovated residential properties ideal for real estate investors and prospective homeowners alike.
The health of the real estate market is key to the overall strength of our economy. The market is flush with distressed REO properties. Bringing these properties back to productive use requires a broad-based, grassroots approach including prospective homeowners and investors ranging from "do it yourself" types to turnkey investors interested in already restored properties.
Econohomes now offers fully renovated properties ideal for owner-occupiers or investors looking for a turnkey property they can quickly rent to generate strong, positive cash flow. Econohomes is actively exploring ways to expand its inventory of fully renovated homes to add to the more than 1,000 REOs it has for sale across more than 40 states, including its recent release of more than 300 properties in June and over 200 released for July. Unimproved homes are available at attractive prices ranging from $14,000 to $48,000.
"As a country, we need to think creatively about how to attract more buyers to the real estate market to help alleviate the incredible supply imbalance," says Jeff Ball, Econohomes President and Chief Executive Officer. "Unimproved properties attract investors capable of unlocking additional value through 'sweat equity.' However, there is a much larger market of potential investor buyers that want fully renovated properties at attractive prices that they can rent and hold. Property improvements also are a prerequisite for owner-occupier mortgage financing," adds Ball.
By combining an extensive inventory of unimproved and renovated properties with an innovative online distribution platform and financing strategy, Econohomes is helping bring distressed real estate back to productive use, create jobs for local service providers and deliver attractive opportunities to local investors.
Access Econohomes expansive property inventory at http://www.econohomes.com/properties.
Econohomes unlocks the enormous potential of distressed properties for buyers, sellers, and communities. With hundreds of properties offered in more than 40 states and a proven track record of acquiring thousands of properties since 2005, Econohomes is the alternative pipeline for distressed properties. Econohomes buys residential properties in volume at discounted prices from mortgage lenders and servicers, and almost instantly makes these properties available online to buyers at affordable prices. Econohomes is the leading online source for wholesale investment properties.