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

Invest for savings growthMust Have DocumentsCNBCone credit cardpay interest while in schoolpositiveEmployer Matched Contributioninitial tax break marriage financial responsibilityLoveSuze is my biggest mentorage appropriate goalsfile taxes quicklyinsurance mistake10 year repayment plan home buying mistakesLong Term Care shoppingHDHP's are good for youback-to-school budgetCPI-Wmobile appdangerous money seasonpremiumverify wellness screening and programssavingsCiti Simplicity Card Student Loanno sneaking in feescommunity collegepercentage men widowed 75-84HSA tax savingsloan no longer than 36months401Kis it kind?adult childrendoctor no longer in networkConventional loan PMIlow down paymentverify retirement plan with HR or plan sponsorPrime Rate Increaseautomatic withdraw to savings buy down Mass Mutualgift grandchild IRA contributionHeartChanging Livesmaintain standard of livingno tax on withdrawlsworkaholicdebtspring summer New american Dream Jose RodriguezETF'sretain separate credit cardsquick closinggraduationbe good exampleMotherbuy home you can afforddon't extend mortgage don't do five year car loanno fee transfer3% debt transferred peace of mindHigh FICO Score = Better RateLong Term Care premiumsavoid burn outstaycationHDHP'siffy incomeoverspend on giftsHigh Credit Scoreemployer offered life insuranceoverspend on dining outmortgagecnbc alarm clockcouple financesis it necessary?shorter payback period20 year level term Legal Guardianhealthy younear historic lowsVital Documentsspeak new goalLTCIRA contribution gifted moneySuze Ormancompare provider pricingFundslive below your meansFinancial Awarenessdeath benefit needs for familyloved ones dependent on incomebalance transfer PBS Specialthree year car loan10% donate to charityhome budget after tax costAccuQuote.comswitch to spouse coveragedon't ignore open enrollmentreal estate marketinterest capitalizationkid borrow firstno retirement funds for down paymentstudent loan repayment estimator8 Rulesincrease emergency savingspay down student loan debtFICO Scoreadd teenAmy LacyetMoney-Savingsave higher monthly paymentUrbana-ChampaignFinancial Clifffile asapForeclosurepublic service career student loan repayment roth irasame sex marriage band end Floridaone annual feerising home pricesget over life insurance phobiaExhibitiontitle insuranceshort term goal Federal Stafford loanchildren's bookconfident of solutionstay positiveis it true? incentives for health care wellness screeningresponsibleRetirement Savings740 credit scoresidelinedSuze changed my lifeWall Streetdeath benefit 20 to 25 times annual incomeFinancialMinor Children better termsignore 6 month grace period interest on student loansengaged in financesfull retirement ageritual schedulewould you decline a bonushealthy gumsAdequate Auto and Home InsuranceGoodbyehealthy retirement blood pressurepurely financial standpointSchool of Social WorkARM Cautionbad decisionssecured cardincreased auto insurance premiumNew York Lifecommitsetup automatic savings withdrawcalculate dependents annual income needsLong Term Care Insurance Roth 401(k)overspend on nights outrepay student loansbuying car 2016origination feesAARPincrease retirement savings19 years cash flow problemretirment savingsprotect your familydoctors in networkworst financial mistakepay off debttraditional vs roth 401(k)40% toward financial goalBaby BoomersSpendinglower ratepay credit debt ASAPcontribution mortgage disclosureno waiting periodThe Suze Orman Showsocial workpowerfulfamily save at least $100 monthlyemergency fund savings20 to 25 times annual incomechildren under 18letter to suzeborrow each year, capitalization is going to pile up fiduciaryanticipated salaryno late fee reduce withholdingzero rate transfer dealsmonthly benefit wives should be involved in retirementMoneyCivil Rightsdon't defer interest paymentsfinancial argumentslet them have 50% controlteach your child good money habitsCD'scontribute household expenses 2016 adjust withholdingretirement accountshealthy aging better loan dealsGraceCredit scorereferrals raise deductiblesreduce interest rateEric Dodge Financial Educatorwaive home inspection bidraising mortgage rates breakdown projected monthly housing coststandard deduction yours, mine & ourscost of capitalization calculatorcreate new truthSandy Hook Elementary Schoolhome buying seasonWillunder 18 financial giftfinancial aidHow To Build Creditbetter loan rateshome related tax break bonus financial independencepermanent life insurance3 savings buckets COLA15-year refinance dealonly offered while employed television hostprotect loved ones debit carddon't cover cosmetic dentistryFederal ReserveCollege of Veterinary Medicinereal estate mistakesCredit Card Interest Ratemonthly dental insurance premiumNewtownbe true to yourselfCory Bookerconfidentholiday spendingAmericans don't use all paid vacation timerequire chore in exchange for allowancerolloverdepreciating asset low-cost index mutual fundbill paying prioritiesdo you need life insuranceGiftsspecial saving accountdental savings planAlarm Clockbuy homeLTCi ASAPForbesretirementbudgetSwap Older Annuities or Life Insurance Holiday Seasonsame-sex marriagenew carUS Tax Codeenjoy saving advice for college graduateskids schedule paymentsincrease retirement contribution rateeliminate credit card debtalways use all paid time offcompare monthly expensesRevocable TrustSelectQuote.combad retirement planningCredit Card Rate IncreaseLTC shopping20% equitytake actionOverspendingvalentines dayprescription tierbest loan deal 2015 financial roadmapsuitable15 year mortgageno private loanscredit managementUniversity of Floridasecure creditnot enough life insurance2015 record year car saleshigh premiumsAshley Springerpresident ObamaOne Wallet At A Timeonly refinance if it payspoint cost offset by savingsfinancial fearsno apologyreplace permanent life insurance with termhigher insurance deductibledebt freeBankFiscal Responsibilitycommissionscostly insurance mistakelife insurance name trust as beneficiaryreduce monthly paymentrequired disclosureSelfishjanuary billssuccessdon't derail retirement savingsdon't use allowance as bribehealthy teethBill and Pennyescrowmax employer matched 401(k) contribution8 month emergency fundHolidayno life insurance financially irresponsiblelearn good financial choicesidentity thefthigh deductible health care planwomen long term carelong term goalaccelerate dental workno interestcollege graduatemake saving a pleasurePost-Divorcepay high rate off firstpay more than minimumautomatic paymentphysical healthHDHP's are not badraise your deductibleraising interest ratesstandard ratemoney vowsWashingtonpaid in fullback door Roth IRAovercome financial fearslower interest ratedental discount planuniversal college accessHDHP/HSAhome loan credit score below 740 social security20% down paymentmeet monthly gift not loanmultiple lendersAuto Savings Young Adult unexpected expensecredit unionMarlo Thomasterm insuranceARMclosing disclosureget credit card50 over 50insurance yearly reviewmoney-aware childterm life insurancecredit cardEmergency SavingsInflation Benefitpublic service loan forgiveness programFICO credit score credit card mortgagerefundcredit utilization raterefinancecar buying mistakessummer job match income women outlive menpush yourself to save more for retirementDeath Benefitcar loanFree Debt Eliminatorshop online guaranteed level term policyAARP Social security calculatorFederal PLUS loanstudenttaxeslower overall drug costEasy Life Insurance face your financial fearteach importance of helping othersemployer funding HSAhome ownershipcut monthly cellular billbest interest of investorcredit reportVeterinary Schoolmental healthretirement planraise insurance deductibleRichSave Us Moneyat worst still pay 75% benefit20% down payment avoid feesgift up to 14,000loan big picture Durable Power of Attorney for Health Carewomen live longerFinancial Awareness Video Festivaltoo expensive schoolfederal student loan deferment automate student loan paymentsStudent DebtPay Off Debt Before Retirementplanfraudulent returnwomen longer life spanPrime Rate Rise 2015get the most out of social security non conventional routerent vs buyjuggle multiple financial goalsno private loanvalue moneypaid vacationdear suzecostly legal schedule vacationMoney Market2017 Taxesteensgay marriage ban end Florida preexisting condition not coveredcut monthly cable billlower mortgage interestcar leasinghealthy retirement weightbest interest ratesearn allowancelong-term care premiums3 bucket approachconsider roth 401(k)earn more on savingsprotect and provide for minor child no splurge Satisfyingsmall changes financial goal phrasedental insurance write new goalHDHP Combo Insurance Productspaying for collegeallowance taskmortgage broker3 step financial road mapsocial security not going broketax ID theftlowest cost fund optionexercise reguarlySuze Orman's Money WarsStock InvestmentsLifestylefinancial concernidentity fraudnegotiate points with bank or sellerdon't buy wantsclosing costs 2% of loancharges on credit cardPersonal Financecan you afford itFHA loan feesMortgage Credit Availability Indexmanage student loans!00% tuition paid30 year mortgage tax refund fraudfour steps to retirement savings Sandy Hook Promisehighest possible benefitdo not pay allowance for good behavioremergency fund 4 Must Have Documents Bankruptcyheartacheapproved medical 100% tax-freepay down car loanco-sign Giftmarriage inequalitylong term careloan necessityFinancial Gift Cliffburn outopen enrollment review student loan repaymentSuze Orman spouse Kathy Traviseight month living expense Teachhigh credit score discountloan is giftfinancing car buying a carFRAprovider of financial supportMost Influential Celebrities Listdangerous retirement planhome insuranceFinancial SystemHoliday Shoppingknow before you owecomparison shoppingadjust allocations Interestallowancesocial security never insolventstrained relationshipbig results school Financial Solutions For YouInfluentialsget health insurancekeep a scheduleaffordable premiumTelepicturesstore credit cardsaffordabilityborrowing plan derailed planUniversity of Illinoisbe kind to yourselfinsurancestudent loan debtmortgage interest tax deduction401(k) Contributionspay 100% cashhousing marketproperty taxInfluential Celebrityhigh FICO scoremax employee matchalternative FICO scoreCommunication Skills switch to roth 401(k)emotional stakesclosing feesresponsible with moneystretch out haircut appointmentsfocus on new truth low credit scorestudent loan repayment planFederal Funds RateSuze approvedBeautyWarner Bros Television Group2016 adjust estimated taxForbes Top 10Phyllis Shelton expert long-term carehome buying budgetFixed Rate Mortgagesave moneydon't blow tax refundsavings pleasurecollege studentlow mileage discountStaffords this year have a fixed 6.8% interest ratehigh down paymentlousy investment8 month safety netno negativityFinancial Advicelower premiumunsubsidized Stafford loanbecome member age appropriate choreCommencementlong-term care percentage of women widowed 75-84don't spend teens and moneynot gender specific dream schoolgrandparent IRA contribution leave a legacyFinancial Power of Attorneyis it necessaryannual cost of living adjustmentdon't charge a pennyultimate compounding giftgrandchild summer job IRA contributionRetirement IncomeFICO at least 720professional advisorlife insuranceGay CouplesFinal Goodbyemax benefit coveredStudent Debt Crisisitemized deductionfocus on needscommunity bankGay Rightsprotect dependent Revocable Living TrustSuze Orman Scholarship6 month waiting period

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