The Company’s progress for the year 2020 has taken us to a level of great achievements in spite of the pandemic. Our subsidiary, North Star Homes, closed 34 home sales in 2020, with gross sales of approximately $11,567,000.00 making this our best year to date. The company continues to grow at a very aggressive rate seeing no slow down for the foreseeable future. North Star Homes is located in one of the hottest real estate markets in the country, Boise, Idaho, which has less than one week of available housing supply on the local market. Thus, we are ideally positioned as a premier home builder to take maximum advantage of this market as we continue to pursue new lot opportunities and aggressively fuel future growth.
The Company had 11 new houses under contract as of 12/31/2020. In the first quarter of 2021, our west Boise Idaho, project has pre sold all 4 homes and will start construction on these homes in February. Company will also have 15 to 20 new starts and our closed sales volume should be approximately $3.5 million for the first quarter on these new starts alone. In the second quarter of 2021 we expect approximately $5 million in closed sales. The Company expects to have a minimum of 60 starts and 40 closed sales with a sales volume of approximately $20 to $24 Million in fiscal 2021.
Vinnie Angelos, CEO, stated “The Company’s growth has been exceptional, taking on a whole new life. I have always believed in building a great company. So far, everything has worked out better than my expectations. We have proven to ourselves that we are on the right track and we will continue building new, exciting and innovative houses.”
Vic Devlaeminck, CFO, stated “A great deal of progress has been made and 2020 has been a significant growth year for the company. I look forward to having a great year in 2021 with all the new developments that are happening and planned.”
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. The company may make forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates that reflect the company’s best judgment based upon current information. All investments involve risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company’s public announcements.
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