Better Than Selling Mortgages
An Edify Group study of millions of consumers and
thousands of businesses shows that the market opportunity for refinancing,
second mortgages and home equity loans is a better market opportunity than the
market for first mortgages. The study found that the first mortgage market is
four times more competitive than the markets for refinancing, second mortgages,
and home equity loans, and that consumers are 15 times more likely to specify
brands when seeking a first mortgage than when seeking financing to leverage
their home equity or reduce their mortgage payments
Minneapolis, MN (PRWEB) December 12, 2005 – Edify Group,
L.L.C. announced today that, according to its recently released report “Consumer
Realty Financing Market Demand and Competition” that the markets for mortgage
refinancing, second mortgages, and home equity loans are one fourth as
competitive and 70% of the size of the market for first mortgages.
Disproportionate demand to competition makes the markets for financing to
leverage home equity and reduce payments a better financing sales opportunity
than the market for first mortgages.
The report found that long term investments in mortgage marketing, and
established market positions by brands, make mortgage marketing much more
competitive than the market for financing products targeting existing home
owners seeking to leverage their home equity or reduce their mortgage payment.
“The markets for refinancing, second mortgages, and home equity loans are less
saturated than the market for first mortgages,” says Ray Kang, Edify Group
principal and founder. “The report also found that consumers are 15 times less
likely to specify brand when seeking to refinance, take a second mortgage or get
a home equity loan than when they seek a first mortgage. This is good news for
businesses planning to expand their offerings or shift their focus to selling
refinancing, second mortgages, and home equity loans as the housing market
cools” added Kang.
Based on Internet search activity of approximately 2 million consumers, over 13
million searches and the online marketing investments of thousands of
competitors from August and November 2005, the report covers the markets for
mortgages, mortgage refinancing, second mortgages, home equity lines of credit
and home equity loans and reverse mortgages. The report provides market and
competitive data as well as recommendations on strategic and tactical actions
for consumer realty financing businesses to take in response to current market
conditions.
For additional information on this report or to purchase this report, visit
www.mortgage-marketing.info or contact Ray Kang at 612-387-6501.
About Edify Group, L.L.C.
Edify Group, L.L.C. is a marketing consulting firm established in 2002 and
located in Orono, MN pioneering the use of Internet search activity and web
mining to track and research consumer and business competitive behavior.
Contact:
Ray Kang, Principal and Founder
Edify Group, L.L.C.
612-387-6501
http://www.EdifyGroup.com
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Press Contact: Ray Kang
Company Name: EDIFY GROUP, L.L.C.
Email: email protected from spam bots
Phone: 952-576-6677
Website:
www.mortgage-marketing.info
More Information:
http://www.prweb.com/releases/2005/12/prweb320306.htm
