NOW AVAILABLE!  Tax Credit for EXISTING HOMEOWNERS!

Answers to frequently asked questions:

1.       Who is eligible to claim the $6,500 tax credit?
Qualified move-up or repeat home buyers purchasing any kind of home are eligible to claim this credit.

2.       What is the definition of a move-up or repeat home buyer?
The law defines a tax credit qualified move-up home buyer (“long-time resident”) as a home owner who has owned and resided in a home for at least five consecutive years of the eight years prior to the purchase date. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. Repeat home buyers do not have to purchase a home that is more expensive than their previous home to qualify for the tax credit.

3.       How is the amount of the tax credit determined?
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500. Purchases of homes priced above $800,000 are not eligible for the tax credit.

Click Here for more information on the Tax Credit!

Elcor Realty is pleased to be of assistance to you in your next move! We have been locally owned and operated for over the past twenty years in Rochester, Minnesota. Let our experts go to work for you!

We have over 25 real estate agents who are all licensed in Minnesota and cover the greater Rochester area and most of Southeastern Minnesota.

We are affiliated with the Southeast Minnesota Association of Realtors, which gives total exposure to our sellers and allows our buyers to see every home for sale in the region.

We are proud to be members of RELO - the largest nationwide relocation company. This means we have a list of qualified Realtors that can help you buy or sell a home, anywhere!