BIRMINGHAM, Ala., Aug. 3, 2010 (GLOBE NEWSWIRE) -- Four Star Holdings, Inc. (OTCBB:FSTH) is pleased to announce further advancement with D.R. Horton on the tail of an article from CNN Money saying congratulations to those who live in Birmingham, Alabama because "the housing tornado passed you by". Management of Four Star Holdings, Inc. says "Not in our Market" as a response to all the negative articles on the residential market as they close their second lot sale/exchange to Birmingham's only national homebuilder, D.R. Horton for over $500,000 in buildable lots.
Bobby Smith, CEO states, "This demonstrates credence to our developments and our revenue stream to have a national homebuilder in two of our neighborhoods." D.R. Horton plans to market the homes they will be constructing to first time home buyers while Four Star will continue to market their homes to second or third time buyers. Fran Mize, President and COO of Four Star's Qualifying Broker said, "This will add a much needed dimension to our overall package in the Brookhaven Neighborhood." Brookhaven is a 1,000 acre development just east of Birmingham on the outskirts of Moody, Alabama. According to a recent article published in the Moody Chamber of Commerce magazine, preliminary census numbers for 2010 indicate a 70 percent increase in Moody's population. Four Star plans to make sure their neighborhoods are where this influx resides.
With home sales up 8% for the mid-year period of 2010 compared to 2009 according to the Birmingham MLS for the Greater Birmingham Metropolitan Area, it is time to look to expansion which is exactly what Four Star is now doing. There is not a week that goes by without a discussion with either a bank or another developer offering unbelievable opportunities for growth and expansion at prices that are almost impossible to pass up. While we plan to make our expansion in a conservative manner, it is really difficult not to be excited about the opportunities which exist in this market. This is an opinion shared by both Fran Mize and Bobby Smith, founders of Four Star Holdings.
ABOUT FOUR STAR HOLDINGS, INC.
Four Star Holdings, Inc. (OTCBB:FSTH) operates as the 4th largest homebuilding company in the Birmingham, Alabama area. 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 statement.