Have you ever wondered if now is the right time to buy a house amid soaring prices and rising interest rates? Join us for a compelling conversation with LaMar Joyner, a seasoned real estate professional from Somerville, South Carolina, as he shares his journey from a small-town upbringing to becoming a multifaceted entrepreneur. With roles as a DJ, sports announcer, and audio engineer, LaMar’s story is one of community spirit and diverse interests. He elaborates on the importance of giving back, highlighting his volunteer work with the Distinguished Gentleman's Club and his church, and offers a unique perspective as a Military Relocation Professional.
In this episode, we tackle the pressing issue of the current housing market and its complexities. Discover whether it's a wise move to buy a home now, despite the financial hurdles. LaMar provides invaluable advice on navigating these challenges, emphasizing the benefits of energy-efficient new builds and homeownership stability during uncertain times. For prospective buyers, he shares crucial tips like the importance of hiring a trusted real estate agent, saving for various costs, and securing pre-approval from a lender. This episode is a treasure trove of insights for anyone looking to make informed decisions in today’s housing market.
Have you ever wondered if now is the right time to buy a house amid soaring prices and rising interest rates? Join us for a compelling conversation with LaMar Joyner, a seasoned real estate professional from Somerville, South Carolina, as he shares his journey from a small-town upbringing to becoming a multifaceted entrepreneur. With roles as a DJ, sports announcer, and audio engineer, LaMar’s story is one of community spirit and diverse interests. He elaborates on the importance of giving back, highlighting his volunteer work with the Distinguished Gentleman's Club and his church, and offers a unique perspective as a Military Relocation Professional.
In this episode, we tackle the pressing issue of the current housing market and its complexities. Discover whether it's a wise move to buy a home now, despite the financial hurdles. LaMar provides invaluable advice on navigating these challenges, emphasizing the benefits of energy-efficient new builds and homeownership stability during uncertain times. For prospective buyers, he shares crucial tips like the importance of hiring a trusted real estate agent, saving for various costs, and securing pre-approval from a lender. This episode is a treasure trove of insights for anyone looking to make informed decisions in today’s housing market.
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Veronica :
Welcome to the Veronica Edwards show where we have fun financial conversations that everyone listening can apply to their personal and professional life. I'm your host, veronica Edwards. Always back here as well. Back here, always excited to be back here for season three on bizradious. The team has been showing up and showing out. We are less than 250 downloads away from 4,000 downloads, so I know today's show will help us get over that hump because we have a family friend edition today.
Veronica :
So today's guest is a seasoned real estate professional with nearly eight years of experience in our hometown of Somerville, south Carolina. This guest also covers the Charleston metro area as well and this guest has a bachelor's degree in arts from the University of South Carolina. Go Gamecocks, especially the girls, and this guest has a strong with this background at University of South Carolina. It brings a strong educational foundation to his real estate practice. Outside of real estate, this person's a serial entrepreneur. They are a professional DJ. They're a high school and youth league sports announcer and an audio engineer. So this guest fits right in here at bizradious. So without further ado, I would like to introduce today's guest, the son my father said he wish he had sell and buy with the bow tie, mr Lamar Joyner. Welcome, lamar.
LaMar :
Thank you. Thank you, Veronica, for having me.
Veronica :
Thank you for coming. You know, mommy, who's a number one V team member, is like you got to get Lamar on. When are you going to have Lamar? I said I've got to get him on, mommy, before the end of season three. So no, mommy's been pushing me to have you on. I've been wanting to have you on because I know you do so much, but I know that you're busy with all the things you have going on. So, lamar, we always start the show asking the guests to tell us about you, where you're from and your story that led you to being a real estate agent and this serial entrepreneur.
LaMar :
All right. Well, first of all, congrats on season three heading into season four. Thank you, yeah, it is awesome. Thank you again. Thank you, yeah, it is awesome. Thank you again. Thank you. Well, as for me, I grew up in Somerville, south Carolina. It used to only be just the home of the Greenways, but we now have other teams. But you know, and it's actually the birthplace of Sweet Tea. So you know, if you don't believe me, I'll just look it up. Yes, please do. And you know, growing up it was a small town, but now we have about 52,000 people in Somerville alone. Woo, so, yeah, it's a big change, a lot of rapid growth, as we see Now. Personally, I've been let's see, I've been a volunteer with organizations such as Distinguished Gentleman's Club, which is a volunteer uh, with organizations such as distinguished gentlemen's club, uh, which is a part of low country youth services and um and it's.
LaMar :
I was a mentor there and is engaged to, to, to help the youth, both boys and girls, um, they're rooted and grounded in mentorship and community service, so it's really it's big um and you know you get to see the kids and how they progress and what they're going to do, so it's rewarding. I just, you know, um, I tell everybody to get involved in any way they can in their community. Um also, uh, I volunteer my services, uh, within the church, uh, when I'm part of the media ministry, also a deacon there, um, and anything else that I can put my hands on now, spiritually ready to do, uh, let's see. And um, professionally, as you mentioned about me, I am a licensed realtor here in the beautiful state of South Carolina. That's why I'm also certified as a military relocation professional.
Veronica :
Yes, we were chatting about that a little bit before we came on air, because our producer here at Biz Radio, aaron Matan, has continued to serve our country probably for the last 10 years, and I never knew there was such a thing as a certified military relocation professional. So I would love, when we get a little further about the real estate, to talk more about that, because that's cool.
LaMar :
Cool, cool. Yeah, I'd be glad to elaborate on that. And outside of real estate, really, people recognize me with talents. They might hear my voice a lot because I am an announcer. I do high school football. I do also youth league football, a big program called Skypa and it's similar to AAU, and they travel throughout the state, even outside of the state, compete on national levels A really great program. If you have a youth involvement football, look into it. Let's see. I DJ Even for schools. You might see me at a basketball game DJ in there. You might see me at somebody's house party, wherever you know. I love to have fun. Media is a part of who I am. Went to University of South Carolina. That's why I graduated with arts uh degree, which my main focus was actually media arts. So a lot of things I'm doing, um, they're really part of my dreams. You know just came true and, um, I'm thankful for the opportunity to continue to shine in any way I can. I am a family man.
Veronica :
Yes you are.
LaMar :
I think that's probably my most important role in life. I have my wife, I have my three children. There's two daughters and one son, and they all are really my wise in human form. Yeah, so, lamar, are we trying for a fourth one? We're trying to get that second son, and they all are really my, my, my wise in human form.
Veronica :
Yeah, so, lamar, are we trying for a fourth one?
LaMar :
We're trying to get that second son Spiritually.
Veronica :
Right If the Lord allows. Right I'm adopting spiritually.
LaMar :
At that point I think we're done, we're done.
Veronica :
I know that's right and shout out to your beautiful wife, deidre Joyner. She was on the show earlier in season three and she's a licensed therapist with her own practice. You guys are entrepreneurs all around the board. Your oldest daughter, ayana, is like my BFF. I love her. She's an entrepreneur also with when it comes to her fashion and just that art side of her. She's gotten from you too, with hair and dance and all of that. So, hearing all of these things, lamar, I'm like yo, you do a lot of stuff. How do you make time to do all the things that you do? And, like you said, you're involved in church, you have your career. You're always outside, as the kids say. So we're trying to be like you when we grow up. How do you balance it off?
LaMar :
That's a that's a great question and I give credit to God, Really I know it might sound cliche, but really I do I'm reminded of, like the Bible verse it says in Proverbs. It says a man's gift makes way from what makes room for him and brings him before great men, makes room for them and brings them before great men.
LaMar :
So I believe that having the gifts that I have and not being afraid to walk in them allows that space for me to be in this arena with great people. You know, sometimes I walk in a place and you know I see people that I might have been looking up to, but they're actually giving me props. Like you know. So I welcome all of that energy into my life, you know, because I believe that every good and perfect gift comes from above. So when that opportunity comes to me, I believe this is God given.
Veronica :
I know that's right and you know, and I love that you're walking in your purpose and a lot of times people don't know what their purpose is. But from just hearing what you've described so far, it's helping out the community. You know, in any form that you can. If it's announcing, if it's through church, if it's through real estate, and when you're passionate about something and you're working in your purpose, it doesn't feel like it's work. You know, of course I'm sure you get tired and there's things that go on and you might miss something here or there, but you're doing what you're destined to do. So that just gives me chills, knowing that, wow, like that's cool that you've been able to tap into those things at such a young age, cause a lot of times people were just figuring it out. You know, like you said, you got a family, you've been to college. Yeah, you got a degree in art, but maybe it didn't work out that you started out that way, but now you put things in place to where you're using. You know out that way but now you put things in place to where you're using. You know that degree and you know just growing an amazing family and being the leader in your house.
Veronica :
So, when it comes to real estate, I definitely would love, Lamar, if you can share. You know what's happening. You know what's the current state of real estate. Is it good to buy now or interest rates coming down? What's the average price of a house? All of these things that everyone keeps saying. Well, this year the bubble's going to break like 08 and the market's going to crash. I don't see that happening, so I would love to get your opinion on where you currently see real estate.
LaMar :
Okay, good, good, and I'm going to take it back just a little bit because it's going to prelude into these answers. So, for me, what led me into real estate was first, I saw my two aunts, my father's sisters, pearl Peel and Sadiqa Chandler, like they were real estate agents when I was a young boy and that was the first seed planted agents when I was a young boy and that was the first seed planted. So, from there, um, when we were doing our home buying uh process that's when we were walking through and I I was thinking of myself, but I accidentally said it out loud I said, hey, I can do this. So another seed was planted. So within the three years after that I was was licensed.
LaMar :
Now, from there, my first opportunity became came within about three months of me being licensed, some friends and a family, real close friends they gave me an opportunity to represent them as their agent and this was actually their first time buying a home. So the same feeling I felt was the same feeling that they felt, you know, and I felt like it was almost like a duty to the community, like because at the time we didn't see a lot of representation by people of color within the industry or as home buyers. So now allowing myself to stand in position and be one of many to help the next family like get to the next step in homeownership, was like it was just a must to do.
LaMar :
So, with that being said, for people, is today the right time to buy? Yes, it is Now granted that that comes with a lot of things. Are you prepared as a buyer? That's another question. But if you are prepared, today is the time to buy. The prices keep increasing Yo.
Veronica :
Lamar. I was just going to say what's up with these prices. My guy, my first house, lamar, back in 20, when did we get our house 2014.? So 10 years ago, I bought a three bedroom, two and a half bath, one car garage maybe just like 0.1 acre $150,000 brand new. What would a house like that go for now in your area? Three bedrooms, three and a half bed, freshly built, with a one car garage.
LaMar :
Freshly built. Freshly built? Oh my Not. Oh my, oh my. You will find yourself near $400,000.
Veronica :
Yeah, so in a matter of 10 years, we're more than double what the housing market was, and I know that's a little before the time that you started, but I'm sure you can even see, you know, back in 2018 when you started like whoa.
LaMar :
So that's why you're saying it's a time to buy now because it's not looking like the prices are going down absolutely, and um, I just heard that they're becoming more energy efficient in the new build market new construction market so that's possibly going to increase those prices more, and it's for it sport of good, though, because when you look at, how does your light bill, how is your light bill affected by that?
LaMar :
you could potentially be paying a third of what others are paying. That's true, your light bill, so it'll balance out. But the things that's, you know, supply and demand, those are things that are affecting prices. Um, within our area, here alone, um, we've increased and it keeps on increasing. Sometimes it's slow, but it's progressively just going up.
LaMar :
So, yeah, if you're waiting on interest rates to to do you any justice or favor, um, I, I just wouldn't bet on it. Yeah, we, uh, that's not in the hands of us as consumers, nor professionals. It's in the hands of the feds and they determine where it's at.
Veronica :
Yeah, and I want to say right now it's been around 7% to 10% that people have been getting for interest rates for houses. I know when I purchased my current house four years ago, that was during the beginning of the pandemic they lowered rates significantly so I was able to get a house Lamar for 2.75.
LaMar :
Which is amazing.
Veronica :
Yes, I feel bad, almost saying it, but I tell people, don't wait for that to happen again. If you can even get something under 10%, I'm like at this point, buy it, Because at least when you own something, I felt the difference when I was renting at the beginning of the pandemic. Yeah, they were saying, oh, we're not going to evict people. But our landlords were like, no, the rent is still due. On the first there was no leniency. But then I knew people that owned their home, their financing companies, like, hey, we'll let you go three months without paying anything or we'll give you a grace period or you just have to pay, and they worked with you. So when you are a homeowner and you own it, that's your asset. Then you have more stability if we ever have another pandemic or natural disaster or anything like that.
Veronica :
So, lamar, before we go, I would love. We always give tips on the show. So I would love if you can give your top five or four of best practices when you're buying a house for those that maybe have been in their house for 20 years and now they're about to buy a new one so they don't know what the new rules are, or if it's for people buying for the first time. What are the things you've observed over your experience? That's like okay, I want to make sure people know this and they'll be on the right track to get a house for the best for them within their range. All that good stuff.
LaMar :
Yeah, so I would say so. My top five tips when buying a house, I would say number one is get a trusted agent and they'll help you out with knowing the market and being able to compare pricing and different things like that. But definitely get a trusted agent and the key to it is interview a couple of agents.
Veronica :
Yes.
LaMar :
Yeah, just don't settle on one. Just interview a couple and then make your decision, and they're interviewing you as well as a client. So that's tip one. Number two, I would say definitely save your money. There are gonna be costs, whether it's down payment or closing costs, transaction costs, it's the same thing, but definitely save your money. Number three, I would say definitely get a pre-approval from a lender before looking.
Veronica :
So explain that a little bit, Lamar. What does that mean? To get a pre-approval?
LaMar :
So a pre-approval from a lender. It gives you the buying power, so you would go to a lender. They will get all your information uh, such as your uh credit score and um some of your income pay stuff, verifications, it's. It's quite a few documents that they may ask for, but it's all to secure the funds that you need to buy your home. So so, once you have your pre-approval, they will give you a set amount, up to a certain nominal amount, whether it's $400,000, $1 million, whatever it is.
LaMar :
So, that gives you your buying power up to that amount.
Veronica :
Once you have that in hand, then you can start your shopping, because other than that, you're just window shopping and, yeah, you might end up with a broken heart that is true, because I'm glad that you said get the pre-approval first, because I've gone house shopping twice and I want to say both times I kind of did it backwards and you're right.
Veronica :
You start getting your hopes up and then you realize, yeah, I got pre-approved for this amount. Even if I did, but I don't want to pay that amount you know like, because that's another thing too. I could get approved for half a million dollars, but I might only want a house that's 250 000. So you have to. But the good thing is, like you said, if you're saving and you have a trusted agent, they will guide you the right way. Would you also recommend Lamar, also having a trusted broker or someone that helps you with getting the financing and the different rules when it comes to, oh, maybe you're a first-time homeowner so you don't have to pay a down payment, or maybe we can help you with this or that. Does that all go with that pre approval?
LaMar :
Well, yes, so that broker will provide you with a pre-approval Now as getting a trusted agent. Your agent probably comes with a team you know, some people that they've found to be those that they can trust with business you know, so, um, I do have trusted partners, whether they're mortgage lenders, attorneys.
LaMar :
Um, I do have my preferred team and you know, sometimes when I'm at, I'm at Carolina one real estate. Um, we have a lot of in-house stuff as well, so I like to be able to provide that um and add value to my clients you know by.
LaMar :
They don't have to go looking and searching here you go. Here's someone that can help you, and I'm and just depending on what the client needs are whether they're a veteran, whatever it may be, what they may qualify for I do have lenders that specify, well, specialize in those types of things, you know, to help those specific clients as well.
Veronica :
So and I'm glad you touched on that because, before we go, I would love for you to talk a little bit about being the certified military relocation professional, because I was like, well, we live in South Carolina and we're not in Columbia. Is there any military presence? And you said it absolutely is. But for anybody listening, wherever you are and you, my family that's in military or you've had prior military I would love for you to talk about the different benefits that come for being a veteran, because for you to be a whole certified military relocation, there's definitely services out there for veterans what veterans um most have.
LaMar :
I said most have access to their va loan and with the va loan it allows for you to do uh 100 financing which says that you have. You don't have to put anything down. So it's zero percent down payment and for veterans that's a. That's a big thing. Um, you also can use your VA loan multiple times. I didn't know, that Right. So it's not that it's just one and done, and so those are two key benefits right off the bat for veterans.
LaMar :
Veterans, they have to move sometimes. Sometimes they PCS, sometimes. Whatever it is, there are opportunities as a veteran for things to work in your favor, um, and trying to eliminate some of the stress that comes with having to move, or you know, be away from your family for a little while. Um, so that's a lot of things that can be done and in place for those who are in the military or veterans. And yes, we do have that military presence here in the Charleston area. We still have the Air Force.
Veronica :
We have.
LaMar :
Naval Weapons Station Yep, you know. So it's a heavy presence here and it's a lot of coming and going.
Veronica :
Yes, well, lamar, we're already to the end of the show, so I'm definitely going to have you back. I'm already thinking about, ooh, we could do quarterly real estate segments, because there's so much going on and, like you said, it's important, especially for us being people of color, to continue to educate the community, and I love all the great things that you're doing. So I would love for you to plug your website, social media, all things. If someone is in that Charleston Somerville area in South Carolina or just need some real estate advice, how do we reach you? How do we support you?
LaMar :
Yes, so I can be reached on all social media platforms the major ones, really. You can search me for Lamar Joyner the agent. That's my handle on those. Also, my website is wwwlamarjoynercom. That's L-A-M-A-R-J-O-Y-N-E-R. You can search for homes. You can get in touch with me through there. My phone number is 843-737-2492. Three, seven, three, seven, two, four, nine two. You can also google me by name, so either way I can be found. Um, send a message, send an email, just go to the website.
Veronica :
It's anything I love it. We'll sell and buy with the bow tie with mr lamar joiner. Thank you so much for making time out of your very busy life and schedule to talk with us here on Biz Radio and we want to thank the listeners for tuning into bizradious for the Veronica Edwards show on Wednesdays across all platforms and if you missed the live airing, you can listen to all prior shows at veronicaedwardsbuzzsproutcom.
