Econohomes
| Company type | Private |
|---|---|
| Industry | Real estate |
| Founded | 2006 |
| Founder | Jeff Ball |
| Headquarters | Austin , United States |
Area served | United States |
Key people | Jeff Ball (CEO) |
| Products | Foreclosure properties, REO assets, specialized financing solutions |
Econohomes operates as a privately owned enterprise headquartered in Austin, Texas, focusing on foreclosure properties, real estate owned (REO) assets, and specialized financing solutions throughout the United States. The firm purchases distressed residential real estate in bulk and markets these homes online at prices below $100,000. Its main clientele consists of investors who refurbish and subsequently resell or lease the properties.
History
Established in 2006, Econohomes originally concentrated on the subprime lending sector by offering affordable homes directly to retail buyers. After the subprime mortgage crisis, CEO Jeff Ball restructured the company’s strategy to prioritize sales to investor buyers.
Jeff Ball oversees day-to-day management and spearheads fundraising initiatives. Before leading Econohomes, he served as Global Head of Semiconductor Investment Banking at JPMorgan. He earned a JD and MBA from Santa Clara University and holds a BA in Economics and Theology from Georgetown University.
To better serve Hispanic first-time homebuyers and real estate investors, Econohomes offers bilingual support along with Spanish-language online materials.
Recent news
In 2012, Personal Real Estate Investor Magazine recognized Econohomes as one of the Top 50 Real Estate Investment Opinion Makers and Market Leaders within Leading Lenders and Other Vital Services.
That year also saw Econohomes achieving 15th place on The 100 Best Companies to Work for in Texas, honored in the Small Companies category by the Texas Association of Business, the Society for Human Resources Management – Texas State Council, and the Best Companies Group.
On October 18, 2012, the Austin Business Journal ranked Econohomes second among Austin’s 50 fastest-growing private companies with revenues exceeding $10 million annually. CEO Jeff Ball credited this expansion to their commitment to transforming distressed foreclosure homes into family residences, highlighting their dedication to enabling small local investors to realize value from these properties.
Additionally, on November 12, 2012, Econohomes was placed #40 on the Austin American-Statesman’s 2012 Top Workplaces of Greater Austin list. This accolade in the Top Small Companies segment was based on employee feedback regarding leadership quality, ethical standards, and workplace environment.