With the housing market still in the tank for most of America, one person is looking to cash in and that person is domainer Frank Schilling.
Announced in a press release yesterday, the domain name ReverseMortgages.com is being offered for sale exclusively through Domain Advisors. According to WHOis, the domain is owned by Name Administration Inc, Frank Schilling’s company based in the Cayman Islands. Domain Advisors CEO Tessa Holcomb gives us the scoop.
“On the verge of retirement, Baby Boomers face a down economy, failed pensions, unemployment, and major losses in retirement savings. In order to sustain the same and well-earned standard of living they are used to millions of Seniors will be turning to a Reverse Mortgage solution in the near future,” said Holcomb. “A category defining domain name like ReverseMortgages.com will continue to grow in popularity and demand as more and more Baby Boomers Retire. ”
According to a report on Reverse Mortgage Daily, a lender who spoke with Holcomb recently said that the starting price on the domain is up the upper six figures and they are looking to get around $1.4MM. Some may think that price is a little high but for a domain with 5400 exact Google keyword searches and an estimated PPC of almost $17, not to mention reverse mortgages are becoming more and more popular as people try to stay in their homes, I don’t think $1MM is too far off. It would be a terrific domain for a major mortgage company and there’s no shortage of cash there. ROI is the key and if the domain is put to use in the right way it won’t take a very long time to make the investment back.
I’ll be interested to see what the final sales price goes for, but what do you think? Is $1.4MM too much or on the money here?