SOURCE: Freshstart Properties, Inc.

March 13, 2007 08:30 ET

Freshstart Properties Is Well Positioned to Benefit From Tightening Rental Market

Pacific Northwest Outperforms the Rest of the U.S.

TACOMA, WA -- (MARKET WIRE) -- March 13, 2007 -- Freshstart Properties, Inc. (PINKSHEETS: FSPP) announces another purchase. This property is a two-bedroom home located at 1933 South Ash Street in Tacoma, WA. The home provides a rental income of $795/month.The purchase price is $145,000 which will also give this property a 9% rate of return at time of acquisition.

Mr. Maherali, President and Chief Executive Officer, stated, "We are very excited at the prospect of further developing and adding to the value of this real estate." Rental Property in the Seattle/Tacoma region is increasing because of rising interest rates, keeping owner-occupy housing out of reach and making rental property more favorable. According to economists, the employment base in Seattle/Tacoma has outgrown any other region of the United States by 4% which makes a strong economy. Meaning tight vacancy and increasing rents are still forecasted.

About Freshstart Properties

Freshstart Properties Inc (PINKSHEETS: FSPP) is a publicly traded, real estate development company operating in the Pacific Northwest. The company's principal objective is to create equity and long-term earnings growth through the acquisition and development or renovation of undervalued and foreclosed real estate.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Contact Information

  • Freshstart Properties, Inc.
    Nazir Maherali
    Tel: 253-383-7194

    Project Analyst
    Therese Pershall
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