NEW YORK, NY, July 6, 2021 (GLOBE NEWSWIRE) – Extreme Biodiesel, Inc. (OTC PINK: XTRM) and its subsidiary North Star Homes make full use of two key phrases for business success. everything and location, location, location. In 2020, Extreme Biodiesel moved into a sustainable real estate industry with the acquisition of North Star Homes. A real estate development subsidiary with 20 years of experience designing communities and meticulously creating comfortable homes for families in Boise, Idaho and throughout Treasure Valley, Extreme Biodiesel offers an excellent opportunity to quickly establish itself in a newly selected industry.
Fast-forward to 2021, and the acquisition of the company provided ideal opportunities for it to achieve significant financial growth as it competes in the fastest growing state in the country, as well as the part of the state that is asking for thousands of new homes to be built to meet the exponential growth it sees. Tens of thousands of people leave dozens of states, including California, Oregon and Washington, to plant their flag elsewhere, and tens of thousands of them settle in Idaho.
Keeping pace with this growth, Extreme Biodiesel has chosen the right time to acquire North Star Homes. And the location couldn’t be more advantageous, because Extreme Biodiesel and North Star Homes are ideally located in the nation’s home of real estate right at a time when new communities and a wider range of homes are in high demand.
The problem in Boise and the surrounding area, both in Ada County and neighboring Canyon County, is the availability of homes to meet the growing demand. The solution, of course, is to create more neighborhoods and build more homes. Extreme Biodiesel, which recently announced plans to change its name to better reflect its current development business model, said the company has begun horizontal development on three of its future projects in Treasure Valley. This is made possible by the completion of more than 50 available lots that North Star Homes will begin vertical construction on this fall.
The company said its subsidiary expects to achieve more than 50 home sales in 2021 and also plans to achieve more than 100 new home sales in 2022. As demand in the Boise property market outstrips supply in and around the Boise property market, the area has seen a sharp rise in housing prices. This growth represents a real opportunity for North Star Homes to drive strong sales and revenue for its parent company Extreme Biodiesel.
Mike Pennington is a Boise real estate agent and he understands the challenges ahead. “Many factors, including the lack of housing stock, continue to drive the rise in housing prices. You have little or no supply, and demand is very high, so prices continue to move northward. “
In Ada County, the median single-family home price was $ 523,250 last month, up 45.4% from the previous month, up from $ 360,000 in May 2020, according to Intermountain Multiple Listing Service data. Meanwhile, the median home price in Canyon County was $ 410,000 in May 2021, up from $ 277,018 in May 2020, up 48% from last year.
The rise is so sharp that it even causes a noticeable monthly rise. Compared to April 2021, median home prices in May 2021 increased by about $ 42,000 in Ada County and by about $ 10,100 in Canyon County. For builders like North Star Homes, this is a great opportunity with no end in sight.
Pennington added: “And since there is no stock for resale, this is forcing builders to increase the supply of housing. But this is not happening fast enough to meet the demand for housing in the area, and there is no sign that demand for housing in the area will decline any time soon. ”
If the company succeeds in the Boise housing market and the entire Treasure Valley, it is highly likely that Extreme Biodiesel will continue to seek out real estate opportunities. Vinnie Angelos, CEO of Extreme Biodiesel, said of the North Star Homes acquisition: “We will build on this acquisition with strategic growth initiatives, complementing acquisitions, and seizing individual opportunities as they arise to create a profitable, growing business.”
But for now, Extreme Biodiesel and North Star Homes have everything they can do right where they are. Jeff Wills, a real estate agent and president of the Boise Council of Regional Realtors, said: “Unless 10,000 housing units hit the market overnight, the housing market is unlikely to change in the near future.”
About Extreme Biodiesel, Inc.
Extreme Biodiesel, which plans to change its name to better reflect its current business model in the real estate market, operates in real estate development with its subsidiary North Star Homes. The company is currently focused on community development and new home construction in Idaho, the fastest growing state in the United States and a market that is aware of an acute shortage of new home inventory supplies to meet the extreme growth and demand in the area.
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