SOURCE: Freshstart Properties, Inc.

September 17, 2007 13:48 ET

Pacific Northwest Real Estate Shows Signs of Resilience

Washington State Leads Nation in Real Estate Appreciation

TACOMA, WA--(Marketwire - September 17, 2007) - Freshstart Properties, Inc. (PINKSHEETS: FSPP) -- According to www.northwestliving.net, Washington State leads the nation in appreciation with five of the top 20 cities listed. In order, there are: Wenatchee (up 23.54 percent), Longview (up 13.6 percent), Seattle/Bellevue/Everett (up 9.89 percent), Tacoma (up 9.34 percent), and Spokane (up 9.3 percent).

President and CEO of Freshstart Properties Mr. Maherali stated, "Real Estate markets are local, but unfortunately, the mortgage business is national. While the Pacific Northwest housing market has held up much better than the rest of the country, the mortgage finance problems that have been widely reported have resulted in some instability in our market.

"The good news for the Pacific Northwest is that employment is robust, job growth continues to expand, and its diversified economy remains buoyant. Bottom line: The Pacific Northwest looks like it can withstand the brunt of the lending issues."

The upside of the current disruption in the housing market is the recent rise in rental rates, as more and more people are being forced into that market. This has caused rent rates to jump and according to www.apartmentratings.com the average rent in Tacoma for a one bedroom unit has increased 18 percent from $573 in 2005 to $679 in 2007. And Freshstart Properties, Inc. is poised to benefit from the current situation.

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 of undervalued and foreclosure 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