AUSTIN, TX--(Marketwire - Dec 21, 2011) - Econohomes, the leading online source for wholesale investment properties, had a strong year of sales in 2011 with more than 100% year-over-year growth. The company is positioned for another year of growth in selling REO properties.
Econohomes' CEO Jeff Ball was delighted with the performance of the company in another challenging year for the U.S. economy.
"We owe our significant growth to our customers," said Ball. Econohomes is committed to reviving housing communities around the country by helping local investors find and restore distressed houses into affordable housing for those who have been displaced by the hardships of today's economic times."
Econohomes bolstered its reputation for being among the most active online REO real estate sales companies, by completing over 5,000 sale transactions in its 5-year rapid growth.
"Econohomes helped us close on our first investment with them in only 5 days," said Barb and Mike Brown in Colorado. "Our sales specialist responded to every question immediately. She gave us links to county web sites and telephone numbers so we could confirm information. She made the whole experience painless. The contracts department answered our many questions patiently and professionally. We are referring our family and friends to them, and look forward to more investments with their company. Thanks for making our dreams come true."
Additional Econohomes highlights for 2011 include:
- Growing geographically with distressed property sales in over 40 states.
- Introducing a new longer-term loan product designed for real estate investors to renovate more distressed REO properties. Econohomes' flexible financing is designed to preserve available capital for repairs and rehabilitation of distressed properties. With tight credit markets, this financing becomes even more imperative for small, local investors.
- Expanding the company's portfolio of properties for sale to include fully renovated homes that are move-in ready for positive cash flow. Investors have free online access to all as-is and restored homes for sale.
- Launching a new online experience for real estate investors and home buyers to more easily evaluate and buy foreclosed properties. The new Econohomes website offers an intuitive user experience with a rich set of customer-focused tools -- all backed by a flexible architecture for faster performance.
- Winning a prestigious award by being named one of the 2012 Top Companies to Work for in Texas.
The company outlook for 2012 is optimistic with a focus on customers and the bottom-line to produce more value and growth.
"Returning distressed foreclosures to productive use is critical to the U.S. economic recovery," Ball said. "Our overriding focus remains delivering these properties quickly and inexpensively to buyers that can rapidly improve them and then either live in them, rent them or resell them."
Investors can find more information about Econohomes at www.econohomes.com.
Econohomes unlocks the enormous potential of distressed properties for buyers, sellers, and communities. With a proven track record of buying and selling thousands of properties since 2006, 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.