Suze Orman, Financial Guru
Connect with me on Facebook Connect with me on YouTube Connect with me on Twitter
View Blog & News List

Resist home-buying pressure, Suze Orman advises

September 22, 2013 at 9:46 PM

CNBC – Published: Wed., 18 Sep 2013
By: Sakina Spruell | Producer

The recent rise in housing prices and the decrease in supply in certain parts of the country have some people willing to spend every nickel they have to get into the market now.

But Suze Orman warns hopeful homebuyers not to be hasty and end up house poor.

On Saturday's episode of "The Suze Orman Show," Jean of California asked Orman if it would be wise to tap her savings and retirement to put down 50 percent on a townhouse to ensure that she gets approved despite her income situation. Jean, 43, is going through a divorce and working at a temporary job but insists on buying a home now.

"The reason I must buy now is I found this fabulous location. It's a new build in Southern California, and … right now in Southern California there's no inventory," she told Orman.

To add to the sense of urgency, home values rose 12.2 percent in the second quarter from compared with the same period last year, according to the National Association of Realtors.

Even with such growth, though, Orman advised caution.


Read Full Article

1 on One : Jean

Tag Cloud

Warner Bros Television Grouploved ones dependent on incomeFinancial Solutions For Youmaintain standard of livingretirment savingsLTC shoppingemployer funding HSAone annual feeget over life insurance phobiadon't cover cosmetic dentistry8 month safety netAuto Savings Credit Card Interest Rate8 month emergency fundPhyllis Shelton expert long-term careStudent Debt Crisis50 over 50Long Term Care shoppingletter to suzepaid vacationMortgage Credit Availability Indexmobile appvalentines dayteens and moneygraduationSuze Orman spouse Kathy Travissocial security never insolvent2015 record year car salesverify retirement plan with HR or plan sponsor6 month waiting periodconfident of solutiongift not loandangerous money seasoncut monthly cellular billstudent loan repayment estimatorRevocable Living TrustLong Term Care Insurance Prime Rate Rise 2015family save at least $100 monthlyStaffords this year have a fixed 6.8% interest ratemax employer matched 401(k) contributionMoney Marketno sneaking in feessocial security not going brokestore credit cardsdental insurance Alarm Clockhome budget after tax costCommencementprotect and provide for minor child student loan debtmax benefit coveredlower premiumpay off debtGay Rightscostly insurance mistakepay 100% cashAARPinsurance mistakedebtInterestget health insurance19 years cash flow problemCory Bookerone credit cardstudent loan repayment planwives should be involved in retirementhome loan credit score below 740 FICO credit score credit card mortgageEasy Life Insurance four steps to retirement savings financial fearsfocus on new truth roth iraschool Lovelousy investmentRetirement SavingsHDHP public service loan forgiveness programoverspend on dining outapproved medical 100% tax-freeCredit Card Rate IncreaseFiscal Responsibilityretain separate credit cardspercentage of women widowed 75-84Emergency Savingsignore 6 month grace period InfluentialsSuze Orman Scholarshipoverspend on giftsSchool of Social Workno waiting periodjuggle multiple financial goalsbad retirement planningtaxesTeachFinancial Gift Cliffloan is giftmortgagejanuary billscost of capitalization calculatorinitial tax break term insuranceteensHeartpreexisting condition not coveredreplace permanent life insurance with termbill paying prioritiesrent vs buydon't use allowance as bribesocial workemotional stakesAdequate Auto and Home InsuranceFRA401Khome buying budgetcar buying mistakesincrease retirement savingsSuze approvedinterest capitalizationsmall changes comparison shoppingForeclosureGiftUniversity of FloridaUrbana-Champaignmoney vowsshop online guaranteed level term policyNew american Dream 10 year repayment plan 4 Must Have Documents traditional vs roth 401(k)percentage men widowed 75-84physical healthsave retirement accountsautomatic withdraw to savings Financial Awareness Video FestivalstudentLong Term Care premiumsFinancial AdviceMoney401(k) Contributionshigh premiumsfinancing car Influential Celebritymarriage inequalitydoctor no longer in networkHoliday Shoppinginterest on student loansHDHP's are not badspecial saving accountunder 18 financial giftChanging Lives20% down paymentHoliday SeasonRichPrime Rate IncreaseYoung Adult television hoststudent loan repaymentmonthly dental insurance premiumHSA tax savingsFinancialmental healthBeautyStock InvestmentsCivil Rightsknow before you owedream schoolCollege of Veterinary Medicineultimate compounding giftMarlo Thomasinsurance yearly reviewopen enrollment review would you decline a bonusPost-Divorcedear suzecredit cardGoodbyeautomate student loan paymentslife insuranceCNBCAccuQuote.comhigh deductible health care planbreakdown projected monthly housing costdo not pay allowance for good behaviorAmy Lacyetget the most out of social security cnbc alarm clockLTCBankRetirement Incomebad decisionsForbes Top 10create new truthvalue moneywaive home inspection bidenjoy saving savingsrequired disclosurepay credit debt ASAPdeath benefit 20 to 25 times annual incomeemployer offered life insuranceSatisfyinglower mortgage interestemergency fund savingsOne Wallet At A Timesame sex marriage band end Floridaraise deductiblesnew carrequire chore in exchange for allowancepermanent life insuranceFinancial CliffUS Tax Codegift grandchild IRA contributionchildren under 18GiftsFree Debt EliminatorAshley SpringerStudent Debtmortgage disclosureAmericans don't use all paid vacation timeTelepicturesstretch out haircut appointmentsprotect loved ones full retirement agegay marriage ban end Florida protect dependent federal student loan deferment loan no longer than 36monthsMost Influential Celebrities Listresponsible with moneyis it true? loan big picture not enough life insurancedon't do five year car loanHow To Build CreditBaby Boomersprotect your familycar leasingmarriage financial responsibilitybalance transfer Sandy Hook PromiseUniversity of Illinoisraise insurance deductibleSuze is my biggest mentordon't spend retirementteach your child good money habitsritual schedulesave moneyMoney-Savingmonthly benefit do you need life insuranceThe Suze Orman Showcar loanhome buying mistakesbe true to yourselfsuccess2015 financial roadmapdental discount planno life insurance financially irresponsiblebest loan deal higher insurance deductibleat worst still pay 75% benefitFederal Funds Ratedon't charge a pennyunsubsidized Stafford loanInvest for savings growthswitch to spouse coverageheartacheonly offered while employed depreciating asset take actionStudent Loanterm life insuranceoverspend on nights outSave Us Moneypurely financial standpointbuying a carFundsprovider of financial supportFinancial EducatorWashingtonuniversal college accessbuying car 2016IRA contribution gifted moneydon't defer interest paymentsfinancial goal phrasedoctors in networkHolidaySelectQuote.compublic service career student loan repayment push yourself to save more for retirementFinancial Systemmake saving a pleasureworst financial mistakeloan necessitythree year car loanbe kind to yourselfalways use all paid time offno tax on withdrawlslong-term care insuranceCommunication Skills 10% donate to charitywrite new goalWall StreetCredit scoreDurable Power of Attorney for Health Carelearn good financial choicesFICO ScorePBS SpecialVeterinary SchoolEric Dodge community collegeavoid burn outcredit reportJose RodriguezHDHP'sSandy Hook Elementary Schoollet them have 50% controlgrandchild summer job IRA contributionconsider roth 401(k)women outlive menzero rate transfer dealsget credit cardLifestylepresident ObamaSuze changed my lifedental savings plancut monthly cable billdon't ignore open enrollmentEmployer Matched Contributioncouple financesMotherbig results speak new goalage appropriate choreface your financial fearmanage student loanspaying for collegesame-sex marriageholiday spendingcan you afford it40% toward financial goalFinal Goodbyeborrow each year, capitalization is going to pile up no splurge Financial Power of Attorneypay interest while in school8 Ruleshome ownershipfinancial argumentsOverspendingcharges on credit cardlong-term care premiums3 step financial road mapteach importance of helping otherscollege graduateSpendingSuze Orman's Money WarsPay Off Debt Before Retirementovercome financial fearsalternative FICO score!00% tuition paidfinancial independenceswitch to roth 401(k)AARP Social security calculatorincentives for health care wellness screeninggrandparent IRA contribution GraceExhibitionis it kind?is it necessary?back door Roth IRAFinancial Awarenessemergency fund Suze Ormandebit cardlive below your meanskeep a scheduleHDHP's are good for youcalculate dependents annual income needsadvice for college graduatesNewtownPersonal FinanceGay Couplesunexpected expenseForbesretirement plandeath benefit needs for familyis it necessaryverify wellness screening and programsincrease emergency savingsincrease retirement contribution rateBankruptcyyours, mine & ours

View Blog & News List
People First. Then Money. Then Things.
Connect with me on Facebook Connect with me on YouTube Connect with me on Twitter
© 2016 Suze Orman Media Inc. All rights reserved.
 |  Search  |  Sitemap  |  Privacy  |  Terms
Sign Up For E-mail Offers
Open Panel
Close Panel