Owning a domain name that is geographically based is a hot commodity right now. This will be, especially true this year, with Google moving towards a localized search model. In other words, when someone places a search, Google will come back with local companies based on your keywords.

If you’re a savvy Marketer, you know that the value of a geo domain is based on what is built on it and how much revenue is coming from the site. You can use your geo domain for local business directories, advertising listings and sales in the same way that the print copy of yellow pages works.

There are many resources for you to learn more about the art of owning a high priced domain name. Elliotsblog is a great resource to learn more about what is going on in this industry. Elliot owns a portfolio of domain names and was honored with the Domainers Choice Award for his blog. Here you can keep on top of the latest news and get to know many of the players in the field.

Some of the things that I’ve been learning by reading what the experts have to say is that there are two types of GeoDomains:

· Pure GeoDomains (ex. Pittsburgh.com, Virginia.com)

· Geo Generic Domains (ex. MissouriLawyers.com, BostonAntiques.com)

While the pure GeoDomains are very expensive, the Geo Generics are more readily available. Should you have one, the development of these domains can vary.Many people prefer to create a guide with advertisements, business listings, coupons, event postings and content which appeals to the local audience. Others create a visitor guide which is aimed to tourists and business visitors. Another growing trend is that GeoDomains are being used as social networking sites to connect people in the local community.