First-time home buyer seminar today

A first-time home buyer seminar will be 5:30 to 7 p.m. today at First American Title Company in the Minden Village, 1673 Lucerne Street, Suite A.

The free seminar is being offered by Sheri Wilson of Prudential Nevada Realty, Janet Willson of Nevada Property Mortgage, and Mary Kelsh of First American Title Company.

The event will cover the advantages of buying over renting, new loan products available for first-time buyers, and the home buying and escrow process.

"This is the best time to be a home buyer, and first-time home buyers are especially fortunate with the recently passed legislation that raises the first-time home buyer tax credit to $8,000, a substantial savings," said Wilson. "Smart home buyers are taking advantage of the tax credit, which ends Dec. 1, 2009, as well as the low interest rates, historic low housing prices and the new loan packages available for first-time buyers."

Wilson pointed out that first-time buyers are getting smarter and closing in on the many bargains available.

According to the National Association of Realtors, distressed sales (foreclosures and pre-foreclosures) accounted for 40 to 45 percent of transactions in February alone. First-time buyers accounted for half of all home sales during the same time period, generally in the lower price range.

Willson said rates are at an all-time low.

"A first-time buyer can now get into a home with no money out of pocket," she said. "This is the time to buy with many home deals on the market and great tax benefits."

The seminar begins with refreshments at 5:30 p.m. Starting at 6:00 p.m., Wilson will discuss the advantages of home ownership over renting, the first-time home buyer federal tax credit, and the buying process. Willson will then discuss the current loan programs available to first-time buyers, followed by a discussion of the escrow process by Kelsh.

A question and answer session will wrap up the seminar. Seating is limited.

For reservations or more information, call Sheri Wilson at (775) 450-2657 or Janet Willson at (775) 790-0595.