The window of opportunity to purchase a business at an awesome price is closing  rapidly.  The reasons why I say that are as follows;

 

1.)   The Savannah area added 1,300 new jobs in April 2010 as reported by the Georgia Dept of Labor.  My research says that the Savannah area will continue to add jobs over the next 4 months.  My professional opinion is that the number of new jobs will be in the 400 - 800 per month range.

 

2.)  Awesome deals disappear fast when jobs are being created.

 

3.)   I've been tracking Foreclosures in Chatham County since January 1, 2010.  During the months of January, February, March and 3 weeks in April there was an average of 20 - 22 foreclosures per week.  During the first three weeks in May the average has dropped to 9 - 10 foreclosures per week.  

 

4.)   Another area I've been tracking is the number of houses that are listed each day, Monday thru Friday.  During Jan, Feb, March and April that number was approximately 50 homes per day.  Now, that number is down to 8 - 10 houses per day.  The inventory of homes for sale is shrinking.  Another item is more people are with drawing their homes off the market then people are listing their homes each day.

(8-10 new listings vs 14 - 16 withdrawals per day)

The tax credit had an impact on the number of houses being listed per day before May and being withdrawn per day in May.

 

5.)   The housing market has a major impact on how people view the economy.  My house is rising in price = Good Economy.  My house price is dropping = Bad Economy.

 

The perception of where the economy is determines the pricing of a business.  At this time Sellers' perception is that the economy is "Bad".  When the above information is shared with the public, the old perception of "Bad" will be replaced with an "Improving" perception.  When that happens the awesome deals on businesses for sale will change. 

 

Now Is The Time To Buy!!!

Leo McKittrick

leo@best-business-brokers.com