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Real Estate Guide 2007
Analysis by region
National statistics are meaningful, but in real estate "location, location, location" means local trends trump all.
City overview
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Syracuse, N.Y.
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The future looks good for Syracuse, which isn't susceptible to a housing bubble, according to John Burns' Housing Cycle Barometer. It also falls as No. 5 on Fortune magazine's list of cities where home values are expected to rise, with projected increases of 4.8 percent this year and 3.6 percent in 2008.
4th quarter 2006: $115,400
Median price 4th qtr 2005: $112,700
% change: 2.4%
Projected avg price end of 2007: N/A
Current avg 30-year fixed rate: 5.84%
Current avg 5/1 ARM rate 5.61%
*Affordability rating: 2.3
Foreclosures in Jan. 2006:
(1 for every 4,279 households)
65
Foreclosures in Jan. 2007:
(1 for every 5,453 households)
51
Change in foreclosures: -21.54%
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Current rate comparison:
» Click here for state vs national rates
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Key market events
 
Key market map
Dec. '05: Median price $112,700
Jan. '06: 30-yr fixed rate at year's low 6.10%
June '06: National median home price $227,100
June '06: Fed makes last of 17 rate hikes
July '06: 30-yr fixed rate at year's high 6.80%
Dec. '06: Median price rises 2.4% to $115,400
Jan. '07: National median home price: $210,600
-- Posted: March 8, 2007




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Mortgages
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 4.19%
15 yr fixed mtg 3.23%
5/1 ARM 3.34%
Rates may include points
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