BIRMINGHAM, Ala., June 3, 2010 (GLOBE NEWSWIRE) -- Four Star Holdings, Inc. (OTCBB:FSTH) is excited to announce that they have surpassed original goals by completing construction on 1,100 single family homes. Four Star demonstrates an intimate knowledge of the Birmingham, AL home market and has a vested interest in developing additional homes on their 5,500 potential new home sites. These homes will be constructed over the next 7 years with an estimated average selling price of $170,000.00.
Lawrence Yun, Chief Economist for National Association of Realtors, predicts future new home needs in the upcoming years in this article released in June 2010; http://www.realtor.org/rmonews_and_commentary/economy/1006_economy_housingshortage">http://www.realtor.org/rmonews_and_commentary/economy/1006_economy_housingshortage. In the article, Mr. Yun states, "that the under production over the past three years could be an issue"; and further states, "a housing shortage is something we won't be able to dismiss too quickly."
Fran Mize, President of Four Star stated today, "I am very confident that our construction and sales goals will not only be met, but surpassed over the next year. Housing needs are continuing to grow in the Birmingham area, and we are here to answer those demands."
ABOUT FOUR STAR HOLDINGS, INC.
Four Star Holdings, Inc. (OTCBB:FSTH), operates as the 4th largest homebuilding company in the Birmingham, Alabama area, closely competing with D.R. Horton (NYSE:DHI), Hovnanian Enterprises, Inc (NYSE:HOV) and HPH Homes, LLC as a fully integrated builder and developer. The company operates in three segments, Land Development, Structural Community Planning including Homebuilding, and Realty Brokerage Services. The corporation is headquartered in Odenville, Alabama.
The Four Star Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7467
SAFE HARBOR STATEMENT
This Press Release contains or incorporates by reference "Forward-looking statements," including certain information with respect to plans and strategies of Four Star Holdings, Inc. For this purpose, any statements regarding this announcement, which are not purely historical, are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including Four Star Holdings, Inc. beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and based on information available to Four Star Holdings, Inc. as of such date. There are a number of important factors that could cause actual events or actual results of Four Star Holdings, Inc. and its subsidiaries to differ materially from those indicated by such forward-looking statements.