Suze Orman TwitterSuze Orman FacebookSuze Orman YouTubeSuze Orman LinkedIn
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

no late fee television hostwomen outlive menHeartMost Influential Celebrities Listclosing disclosurelower mortgage interestcharges on credit cardHoliday Seasonis it necessary?social securitystudent loan repayment estimatorholiday spendingLTC shoppingno apologyBankruptcyBanklousy investmentno life insurance financially irresponsiblemaintain standard of living19 years cash flow problemdon't cover cosmetic dentistryinsuranceHSA tax savingsat worst still pay 75% benefitsidelinedshort term goal high premiumsdon't charge a pennydon't spend death benefit 20 to 25 times annual incomeearn allowanceVital DocumentsDeath Benefitpercentage of women widowed 75-84overcome financial fearsrent vs buyhousing marketGracehigh deductible health care planPBS Specialconfident of solutionAARP Social security calculator6 month waiting period8 month emergency fundemotional stakesjuggle multiple financial goalspay down student loan debtSandy Hook Elementary Schoolhealthy retirement weight8 RulesCredit scoregrandparent IRA contribution get over life insurance phobiaemergency fund savingsGay Couplesreplace permanent life insurance with termno private loandeath benefit needs for familyExhibitionraise deductiblesback door Roth IRAbad decisionsloved ones dependent on incomeInfluentialslong-term care premiumscostly legal pay down car loan2016 adjust withholdingStock Investmentsfile asapSuze changed my lifeCiti Simplicity Card raise insurance deductible20 to 25 times annual incomeFinancial Advicestore credit cardsdebit cardnegotiate points with bank or sellercredit cardbest loan deal HDHP's are not badUS Tax Codebig results Bill and PennySelfishdo not pay allowance for good behavioritemized deductionAmy Lacyetbill paying prioritiesUrbana-Champaignterm insurancecredit reportinterest on student loansmonthly benefit financial independencedon't do five year car loantraditional vs roth 401(k)Legal Guardianget credit cardretirment savingsvalue moneyTelepicturesFederal ReservePersonal Financeprescription tierpay credit debt ASAPignore 6 month grace period Mass Mutual15-year refinance dealInvest for savings growthstudent loan debtswitch to spouse coverageOverspendinggift grandchild IRA contributionreal estate marketenjoy saving employer offered life insurancecomparison shopping3% debt transferred emergency fund dangerous money seasonAccuQuote.compay interest while in schoolmax benefit coveredpremiumLTCi ASAPstay positiveTeachno retirement funds for down paymentPrime Rate Rise 2015family save at least $100 monthlyconsider roth 401(k)Changing Livesunexpected expensemanage student loansdepreciating asset highest possible benefitLong Term Care shoppingincrease emergency savingswould you decline a bonusadvice for college graduatesHigh Credit Score740 credit scoreWashington8 month safety netteens and moneySuze Orman spouse Kathy Travisprotect your familyAmericans don't use all paid vacation timeautomatic withdraw to savings employer funding HSAsecure creditFinancial Awarenessbuy down CD'sdebtoverspend on nights outteenspositiveRetirement SavingsLifestylelive below your meansadd teenyours, mine & oursdental savings planEasy Life Insurance roth irarising home pricesmortgage interest tax deductionForeclosurerepay student loansCredit Card Interest Rateget health insuranceprovider of financial supportcreate new truthPhyllis Shelton expert long-term careface your financial fear30 year mortgage new carhome buying seasonco-sign january billsmental healthsetup automatic savings withdrawFinanciallife insurancehealthy teethsmall changes Money-Savingfinancial concernnear historic lowsfile taxes quicklygift not loanmultiple lendersSuze Orman Scholarshipautomate student loan paymentsRevocable Living Trustrolloverdon't derail retirement savingsretain separate credit cardsloan no longer than 36monthsCombo Insurance ProductsStudent LoanCollege of Veterinary MedicineCPI-Wresponsiblefocus on new truth loan big picture write new goalgraduationFinancial Gift Clifflet them have 50% controlone credit cardteach your child good money habitsincrease retirement savingsget the most out of social security no tax on withdrawlsUniversity of Illinoisfocus on needsprotect loved ones wives should be involved in retirementcontribute household expenses 20% equityschool Cory Bookerincentives for health care wellness screeninginitial tax break be kind to yourselfvalentines dayreferrals home buying mistakesbetter loan dealsSwap Older Annuities or Life Insurance retirement planresponsible with moneyspeak new goal40% toward financial goalFinancial Awareness Video FestivalHow To Build CreditCNBCknow before you owepush yourself to save more for retirementmortgage disclosure50 over 50Mothercouple financespay more than minimumpay 100% cashnot gender specific higher monthly paymentmortgage brokerDurable Power of Attorney for Health Caregay marriage ban end Florida increased auto insurance premiumrequired disclosureconfident4 Must Have Documents under 18 financial giftaccelerate dental workStudent Debttax ID theftfinancial argumentsRichmarriage financial responsibilityraising mortgage rates refinance3 bucket approachreduce withholding20% down payment avoid feeshome budget after tax costiffy incomedo you need life insurancedear suzeback-to-school budgetAdequate Auto and Home Insuranceorigination feesquick closingConventional loan PMIFederal Stafford loanFree Debt Eliminatorpoint cost offset by savingsARMavoid burn outno fee transferForbesoverspend on giftspublic service loan forgiveness programRevocable Trustlong term careonly offered while employed contribution gift up to 14,000switch to roth 401(k)fraudulent returnescrowmax employee matchNewtownFundsbuying car 2016identity fraudbreakdown projected monthly housing costRoth 401(k)don't buy wantsgrandchild summer job IRA contributionreal estate mistakesfinancial goal phraseretirementincrease retirement contribution rate20 year level term dental insurance marriage inequalityhealthy aging Holidayprotect and provide for minor child Financial Systemstudent loan repaymenteliminate credit card debtEmployer Matched Contributionletter to suzespecial saving account20% down paymentchildren under 18be good examplecut monthly cable billmortgageCOLAEric Dodge women live longerlife insurance name trust as beneficiaryLTC401(k) Contributionsage appropriate chorepowerfulno negativitycompare provider pricingpercentage men widowed 75-84car loanFinal Goodbyebuy home you can affordfinancial fearslow credit scoredoctors in networkbe true to yourselfdebt freebalance transfer Financial Educatorpreexisting condition not coveredbuy hometeach importance of helping othersBeautyhigh down paymenteight month living expense ultimate compounding giftkids schedule paymentsfederal student loan deferment mobile appFiscal Responsibilityonly refinance if it payslower overall drug costSpendinghome ownership!00% tuition paidcut monthly cellular billno splurge raising interest rateslower ratesuccessbuying a carFederal PLUS loanexercise reguarlyFederal Funds Ratenot enough life insurance10 year repayment plan community collegeIRA contribution gifted moneyBaby Boomersfiduciarymeet monthly monthly dental insurance premiumAARPstaycationARM Cautionleave a legacyalternative FICO scoretitle insurancehome related tax break bonus don't defer interest paymentsFHA loan feeshealthy retirement blood pressurepay high rate off firsthigher insurance deductiblelong term goaldangerous retirement planreduce interest rateshop online guaranteed level term policyCivil Rightscalculate dependents annual income needsannual cost of living adjustmentsummer job match income Auto Savings lowest cost fund optionlower interest rate2015 financial roadmapdoctor no longer in network2017 TaxesplanAshley Springerritual scheduleone annual feestrained relationshipfull retirement agecan you afford itthree year car loanno sneaking in feesverify wellness screening and programsInfluential Celebrityzero rate transfer dealsPost-DivorceJose Rodriguezaffordabilitysuitablemoney vowssave Young Adult community bankage appropriate goalsnon conventional routekid borrow firstWarner Bros Television GroupEmergency Savingspresident Obamastudentno waiting periodFRA2015 record year car salesStudent Debt Crisisfour steps to retirement savings FICO at least 720long-term care no interestlow-cost index mutual fundprotect dependent paid vacationcompare monthly expenseschildren's bookloan is giftmake saving a pleasurecollege studentterm life insurancepurely financial standpointSelectQuote.comdon't blow tax refundSuze Orman's Money Warscredit managementhigh FICO scoreGiftHigh FICO Score = Better Ratebudgetno private loansPrime Rate IncreaseLong Term Care premiumscommissionsinsurance yearly reviewfinancial aidInterestLong Term Care Insurance property taxretirement accountsWall Streetdon't use allowance as bribeMortgage Credit Availability Indexhigh credit score discountopen enrollment review Marlo Thomascollege graduatetake actionFixed Rate Mortgagedental discount planaffordable premiumallowance2016 adjust estimated taxautomatic paymentcost of capitalization calculatorNew York Lifesavings pleasureNew american Dream don't ignore open enrollmentGiftspaid in fullLovesocial security never insolventheartachereduce monthly paymentkeep a schedulecredit utilization rateRetirement IncomesavingsGoodbyeFinancial Power of AttorneyMust Have Documentsdream schoollearn good financial choicesallowance taskengaged in finances3 savings buckets ETF'sMoney Marketwomen longer life spanbetter loan rates10% donate to charityburn outunsubsidized Stafford loanSuze Ormanpermanent life insuranceSave Us Moneyworkaholicstandard ratelow mileage discountstandard deduction pay off debtrequire chore in exchange for allowanceshorter payback periodcar buying mistakespeace of mindwaive home inspection bidborrowing plan Gay RightsHDHP save moneylower premiumverify retirement plan with HR or plan sponsorinterest capitalizationoverspend on dining outis it true? become member Alarm ClockSchool of Social WorkHDHP'sraise your deductible401Klow down paymentcostly insurance mistakeloan necessitystretch out haircut appointmentsanticipated salarystudent loan repayment planOne Wallet At A Timemoney-aware childclosing costs 2% of loansecured cardhome loan credit score below 740 max employer matched 401(k) contributionThe Suze Orman Showschedule vacationStaffords this year have a fixed 6.8% interest ratetoo expensive schoolbetter terms15 year mortgageWillSuze is my biggest mentorborrow each year, capitalization is going to pile up Veterinary SchoolForbes Top 10home buying budgetis it kind?earn more on savingsuniversal college accessFinancial Cliffbest interest ratesbad retirement planningSandy Hook Promise3 step financial road mapHDHP's are good for youcar leasingCommencementclosing feesadult childrenpublic service career student loan repayment home insurancetaxesFICO credit score credit card mortgageprofessional advisorCommunication Skills Suze approvedpaying for collegeMoneyInflation Benefitbest interest of investorsocial workphysical healthSatisfyinginsurance mistakeFICO Scoretax refund fraudsame-sex marriageUniversity of Floridaworst financial mistakederailed plancommithealthy gumscnbc alarm clockis it necessaryadjust allocations Financial Solutions For YouHoliday Shoppinghealthy youdon't extend mortgage spring summer Credit Card Rate Increasealways use all paid time offsame sex marriage band end Floridaidentity theftwomen long term carerefundfinancing car HDHP/HSAcredit unionapproved medical 100% tax-freeMinor Children Pay Off Debt Before Retirementsocial security not going broke

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
© 2017 Suze Orman Media Inc. All rights reserved.
 |  Search  |  Sitemap  |  Privacy  |  Terms
Sign Up For E-mail Offers
Open Panel
Close Panel