|
|
About Us:
Personal Service and Professional Reults are what we are all about!! Serving the Clarksville TN, Ft. Campbell, Ky, Oak Grove, KY, Sprngfield, TN, Adams, TN areas. "Let Us Help You with Your Next Move" Here It's Personal!! MEET THE KEN ADAMS TEAM  KEN ADAMS, REALTOR Ken Adams enjoys helping buyers and sellers in real estate, and has SOLD hundreds of Homes. He is a two time receipent of the Clarksville Association of Realtors "Award of Excellence", and is a member of Keller Williams Realty Associate Leadership Council. Ken has resided in the Clarksville Ft Campbell area for 9 years and has a valuable knowledge of Clarksville Real Estate and Homes. When Ken is not selling homes he enjoys time with his Family. Ken is active in his local church and charities. He believes in our children and has won numerous awards for his volunteer efforts. Ken's hobbies include fishing, hunting, playing tennis,and teaching tennis to underprivileged children, and last but not least spending time with his family. Ken has three children, Nathaniel 7, Luke 5, and Anna Marie, 1. Allow Ken to help you with your next move and you will not be disappointed. Clarksville TN Homes for Sale
MEET THE KEN ADAMS TEAM TENA WITHERSPOON, REALTOR Tena Witherspoon just joined the Ken Adams team this year. Prior to working as an agent Tena worked in Mississippi as an executive assistant for a large real estate firm. Tena's knowledge and expertise are centered around relocation. Tena is a member of the Clarksville Association Realtors and always exceeds her clients expectations. She is a very devoted professional to her career and her family. Tena has three children Hannah 8, Connor 5, and Blake, 1. Her attention to detail and negotating skills are valuable attributes to your next move. Tena dedicates herself to her clients needs. When Tena is not selling real estate she enjoys, traveling, long walks with her family, and being a mother. Call Tena today to assist you in your real estate needs.
"Find your house with the click of a mouse"  Different types of home loans
UNDERSTANDING DIFFERENT TYPES OF LOANS In today's market ther are more financing options than have ever been available before. From traditional mortgages to adjustable-rate and hybrid loans, there are financing packages designed to meet the needs of virtually anyone. While the different choices may seem overwhelming at first, the overall goal is really quite simple: you want to find a loan that fits both your current financial situation and your future plans. Though this article discusses some of the more common loan types, you should spend time talking with different lenders before deciding on the right loan for your situation. General categories of loans
Most loans fall into three major categories: fixed-rate, adjustable-rate, and hybrid loans that combine features of both. - Fixed-rate mortgages
As the name implies, a fixed-rate mortgage carries the same interest rate for the life of the loan. Traditionally, fixed-rate mortgages have been the most popular choice among homeowners, because the fixed monthly payment is easy to plan and budget for, and can help protect against inflation. Fixed-rate mortgages are most common in 30-year and 15-year terms, but recently more lenders have begun offering 20-year and 40-year loans.
- Adjustable-rate mortgages (ARM)
Adjustable-rate mortgages differ from fixed-rate mortgages in that the interest rate and monthly payment can change over the life of the loan. This is because the interest rate for an ARM is tied to an index (such as Treasury Securities) that may rise or fall over time. In order to protect against dramatic increases in the rate, ARM loans usually have caps that limit the rate from rising above a certain amount between adjustments (i.e. no more than 2 percent a year), as well as a ceiling on how much the rate can go up during the life of the loan (i.e. no more than 6 percent). With these protections and low introductory rates, ARM loans have become the most widely accepted alternative to fixed-rate mortgages.
- Hybrid loans
Hybrid loans combine features of both fixed-rate and adjustable-rate mortgages. Typically, a hybrid loan may start with a fixed-rate for a certain length of time, and then later convert to an adjustable-rate mortgage. However, be sure to check with your lender and find out how much the rate may increase after the conversion, as some hybrid loans do not have interest rate caps for the first adjustment period.
Other hybrid loans may start with a fixed interest rate for several years, and then later change to another (usually higher) fixed interest rate for the remainder of the loan term. Lenders frequently charge a lower introductory interest rate for hybrid loans vs. a traditional fixed-rate mortgage, which makes hybrid loans attractive to homeowners who desire the stability of a fixed-rate, but only plan to stay in their properties for a short time.
Balloon payments
A balloon payment refers to a loan that has a large, final payment due at the end of the loan. For example, there are currently fixed-rate loans which allow homeowners to make payments based on a 30-year loan, even thought the entire balance of the loan may be due (the balloon payment) after 7 years. As with some hybrid loans, balloon loans may be attractive to homeowners who do not plan to stay in their house more than a short period of time. Time as a factor in your loan choice
As has been discussed, the length of time you plan to own a property may have a strong influence on the type of loan you choose. For example, if you plan to stay in a home for 10 years or longer, a traditional fixed-rate mortgage may be your best bet. But if you plan on owning a home for a very short period (5 years or less), then the low introductory rate of an adjustable-rate mortgage may make the most financial sense. In general, ARMs have the lowest introductory interest rates, followed by hybrid loans, and then traditional fixed-rate mortgages. FHA and VA loans
U.S. government loan programs such as those of the Federal Housing Authority (FHA) and Department of Veterans Affairs (VA) are designed to promote home ownership for people who might not otherwise be able to qualify for a conventional loan. Both FHA and VA loans have lower qualifying ratios than conventional loans, and often require smaller or no down payments. Bear in mind, however, that FHA and VA loans are not issued by the government; rather, the loans are made by private lenders but insured by the U.S. government in case the borrower defaults. Remember too, that while any U.S. citizen may apply for a FHA loan, VA loans are only available to veterans or their spouses and certain government employees. Conventional loans
A conventional loan is simply a loan offered by a traditional private lender. They may be fixed-rate, adjustable, hybrid or other types. While conventional loans may be harder to qualify for than government-backed loans, they often require less paperwork and typically do not have a maximum allowable amount.
How do Mortgage Payments Work?
HOW DO MORTGAGE PAYMENTS WORK? Excluding property taxes and insurance, a traditional fixed-rate mortgage payment consist of two parts: (1) interest on the loan and (2) payment towards the principal, or unpaid balance of the loan. Many people are surprised to learn, however, that the amount you pay towards interest and principal varies dramatically over time. This is because mortgage loans work in such a way that the early payments are primarily in interest, and the later payments are primarily towards the principal. In the beginning... you pay interest
To help calculate monthly payments for loans based on different interest rates, lenders long ago developed what are known as "amortization tables." These tables also make it fairly easy to calculate how much money of each payment is interest, and how much goes towards the principal balance. For example, let's calculate the principle and interest for the very first monthly payment of a 30-year, $100,000 mortgage loan at 7.5 percent interest. According to the amortization tables, the monthly payment on this loan is fixed at $699.21. The first step is to calculate the annual interest by multiplying $100,000 x .075 (7.5 %). This equals $7,500, which we then divide by 12 (for the number of months in a year), which equals $625. If you subtract $625 from the monthly payment of $699.21, we see that:
- $625 of the first payment is interest
- $74.21 of the first payment goes towards the principal
Next, if we subtract $74.21 (the first principal payment) from the $100,000 of the loan, we come up with a new unpaid principal balance of $99,925.79. To determine the next month's principal and interest payments, we just repeat the steps already described. Thus, we now multiply the new principal balance (99,925.79) times the interest rate (7.5%) to get an annual interest payment of $7,494.43. Divided by 12, this equals $624.54. So during the second month's payment: - $624.54 is interest
- $74.67 goes towards the principal.
Note: In Canada, payments are compounded semi-annually instead of monthly. Equity
As you can see from the above example, even though you pay a lot of interest up front, you're also slowly paying down the overall debt. This is known as building equity. Thus, even if you sell a house before the loan is paid in full, you only have to pay off the unpaid principal balance--the difference between the sales price and the unpaid principle is your equity. In order to build equity faster--as well as save money on interest payments--some homeowners choose loans with faster repayment schedules (such as a 15-year loan). Time versus savings
To help illustrate how this works, consider our previous example of a $100,000 loan at 7.5 percent interest. The monthly payment is around $700, which over 30 years adds up to $252,000. In other words, over the life of the loan you would pay $152,000 just in interest. With the aggressive repayment schedule of a 15-year loan, however, the monthly payment jumps to $927-for a total of $166,860 over the life of the loan. Obviously, the monthly payments are more than they would be for a 30-year mortgage, but over the life of the loan you would save more than $85,000 in interest. Bear in mind that shorter term loans are not the right answer for everyone, so make sure to ask your lender or real estate agent about what loan makes the best sense for your individual situation Ken Adams, "Find your house with the click of a mouse"
| Keller Williams
2271 Wilma Rudolph Blvd.
Clarksville, TN 37040
Fax: 931-648-8500
Office: 931-245-7438
|
| | | Hello and thank you for visiting!!! It is my goal as your full service real estate agent specializing in the Clarksville, Cheatham Co., Stewart Co., Houston Co., and Robertson Co. areas, to provide you with superior service at all times. My local expertise and extensive real estate experience will benefit you whether you are buying or selling a home at this time, a returning client checking out the many homeowner resources I offer, or just beginning your research on your new home or neighborhood. Please feel free to browse this site as you will find many helpful tools to assist you in your buying or selling process. "My promise to you is to work diligently to meet your expectations and needs" For more services or to become a preferred client, just email or contact me to see how I can help make your dreams come true. Buying a home? I look forward to helping you select the home of your dreams by taking time to listen to your needs and desires, as well as providing you with timely service that you deserve. Selling a home? My real estate expertise and many effective marketing programs will give you the exposure and edge you need to sell your home quickly for top dollar. Just contact me and I will show you how my services will "give you the upper hand" in selling your home. Returning Client? I appreciate the opportunity to continue to serve you and hope you take advantage of the valuable resources I provide. Come back, you are always welcome. I consider this community an excellent place to reside and would love to share with you my enthusiasm for the many neighborhoods that encompass it. I pride myself on providing unparalleled service and look forward to developing a long-term relationship with you. Please feel free to contact me if you would like to discuss how I can best assist you with your real estate needs. Sincerely, Ken Adams |
Areas of Expertise
Specializing in Listing and Selling Residential, Multi-family, abnd Commercial Properties. Professional Results and Personal Service to meet and exceed your expectations!! Why Use A REALTOR® When Selling?
Why Use a REALTOR® When Selling a Home?A real estate agent can help you understand everything you need to know about the home selling process. Not all real estate licensees are the same; only those who are members of the NATIONAL ASSOCIATION OF REALTORS® (NAR) are properly called REALTORS®. They proudly display the REALTOR "®" trademark on their business cards and other marketing and sales literature. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict Code of Ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reported that 84% of home buyers would use the same REALTOR® again. Real estate transactions are one of the biggest financial dealings of most people's lifetime. Transactions today usually exceed $250,000. If you had a $250,000 income tax problem, would you attempt to deal with it without the help of a certified professional accountant? If you had a $250,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be wise to work with a professional REALTOR® when you are selling a home. If you're still not convinced of the value of a REALTOR®, here are more reasons to use one: - When selling your home, your REALTOR® can give you up-to-date information on what is happening in the marketplace as well as the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.
- Often, your REALTOR® can recommend repairs or cosmetic work that will significantly enhance the salability of your property.
- Your REALTOR® markets your property to other real estate agents and the public. In many markets across the country, over half of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer.
Your REALTOR® acts as the marketing coordinator, distributing information about your property to other real estate agents through a Multiple Listing Service (MLS) or other cooperative marketing networks, open houses for agents, etc. The REALTOR® Code of Ethics requires REALTORS® to utilize these cooperative relationships when they benefit their clients. - Your REALTOR® will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. NAR studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with the help of your REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.
- Your REALTOR® can help you objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing - and a lot of possible pitfalls. Your REALTOR® can help you write a legally binding, win-win agreement that will be more likely to make it through the process.
- Your REALTOR® can help close the sale of your home. Issues may arise between the initial sales agreement and closing (also called settlement or escrow), for example, unexpected repairs might be required to obtain financing or a title problem is discovered. The required paperwork alone is overwhelming for most sellers. Your REALTOR® is the best person to objectively help you resolve these issues and move the transaction to closing.
Why Use a REALTOR® When Buying Why Use a REALTOR® When Buying a Home? A real estate agent can help you understand everything you need to know about the home buying process. Not all real estate licensees are the same; only those who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. They proudly display the REALTOR " ®" trademark on their business cards and other marketing and sales literature. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict Code of Ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reported that 84% of home buyers would use the same REALTOR® again. Real estate transactions involve one of the biggest financial investments of most people's lifetime. Transactions today usually exceed $250,000. If you had a $250,000 income tax problem, would you attempt to deal with it without the help of a certified professional accountant? If you had a $250,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be wise to work with a professional REALTOR® when you are buying a home. If you're still not convinced of the value of a REALTOR®, here are more reasons to use one: - Your REALTOR® can help you determine your buying power - that is, your financial reserves plus your borrowing capacity. If you give a REALTOR® some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders - banks and mortgage companies - offer limited choices.
- Your REALTOR® has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.
- Your REALTOR® can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources. REALTORS® can provide local community information on utilities, zoning, schools, etc. There are two things you'll want to know: First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?
- Your REALTOR® can help you with negotiations and inspections. There are many negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or appliances. The purchase agreement should allow time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.
- Your REALTOR® provides due diligence during the property evaluation. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your REALTOR® can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports.
You will also want to see a preliminary report on the property title. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your REALTOR®, title search company or attorney can help you resolve issues that might cause problems at a later date. - Your REALTOR® can help you understand different financing options and identify qualified lenders.
- Your REALTOR® can guide you through the closing process and make sure everything flows together smoothly.
Testimonials
SEE FOR YOURSELF WHAT MY CLIENTS ARE SAYING ABOUT ME AND MY #1 RATED SERVICE. I DEDICATE MY TIME AS YOUR AGENT TO NEGOTIATE ON YOUR BEHALF, WHILE TAKING THE TIME TO MEET YOUR NEEDS AND DESIRES. "THANKS FOR ALL YOUR HELP, YOU MADE OUR DREAMS COME TRUE" JIM AND NANCY, RELOCATED FROM BOSTON, MA TO CLARKSVILLE, TN "YOUR KNOWLEDGE AND EXPERTISE WERE VERY HELPFUL DURING OUR MILITARY MOVE. I CHECKED WITH A DOZEN COMPANIES AND WAS SO GLAD WE CHOSE WORKING WITH KEN AND KELLER WILLIAMS. YOU DEFINE WHAT IT MEANS TO REALLY CARE" JASON & AMANDA, RELOCATED FROM FT. BRAGG, NC TO CLARKSVILLE, TN. "THE LEVEL OF SERVICE THAT YOU PROVIDED US WITH WAS EXCEPTIONAL AND YOU WENT ABOVE AND BEYOND YOUR CALL OF DUTY TO ENSURE THAT OUR MOVE FROM GERMANY TO THE STATES WENT SMOOTH AND WITHOUT TROUBLE, FOR THAT WE ARE ALWAYS VERY GRATEFUL." MARK & HILDE, CLIENTS FOR LIFE!!!! "KEN, THANKS A BILLION FOR ALL YOU DID TO HELP ME AND MY FAMILY SELL OUR FIRST HOME AND THEN BUY OUR SECOND ONE. I STILL CAN'T BELIEVE YOU ACTUALLY SHOWED US OVER A HUNDRED HOMES IN THOSE THREE DAYS. THANKS FOR TAKING THE TIME TO SHOW US HOW MUCH YOU REALLY CARED ABOUT OUR NEEDS AND WANTS. WE LOVE OUR HOME. SORRY THAT IT WAS THE FIRST ON OUR LIST AND WE STILL MADE YOU GO TO THE OTHER 99 TO CHECK THEM OUT. WE LOOK FORWARD TO WORKING WITH YOU IN THE FUTURE." BILLY & LORA, CLARKSVILLE, TN " Selling our home was so simple thanks to you and your plan, buying our new home was just as easy, anyone reading this should know that Ken will go to bat for you no matter what!!! He is committed and dedicated to help you buy or sell, Thanks a Billion, Ken" Randall and Jessica, Clarksville, TN "When you listed our home I was skeptical about the price, I never knew whe could get this much from selling our home, you were great to work with and your service is phenomonal. " Jeremy and Katlyn, Oak Grove, KY.
|
