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I thought I recalled that composite longbows with STR bonuses needed to be masterwork. the text of them seems to seem like they can be normal
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Longbow, Composite: You need at least two hands to use a bow, regardless of its size. You can use a composite longbow while mounted. All composite bows are made with a particular strength rating (that is, each requires a minimum Strength modifier to use with proficiency). If your Strength bonus is less than the strength rating of the composite bow, you can't effectively use it, so you take a –2 penalty on attacks with it. The default composite longbow requires a Strength modifier of +0 or higher to use with proficiency. A composite longbow can be made with a high strength rating to take advantage of an above-average Strength score; this feature allows you to add your Strength bonus to damage, up to the maximum bonus indicated for the bow. Each point of Strength bonus granted by the bow adds 100 gp to its cost. If you have a penalty for low Strength, apply it to damage rolls when you use a composite longbow.
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Am I correct in gathering from this that a bow with +4 STR would only be 500g? (100+400 for STR)
You got it.
But if you are spending enough to buy a bow for a decent str modifier, the +1 to hit from masterwork is worth 300gp.
Also, you can enchant it.