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Tempe Information
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Tempe is located in the southeast part of the Greater Phoenix area. It is one of the cities that are included an area often referred to as the East Valley. The city offices of Tempe are about 5 miles from Phoenix Sky Harbor International Airport. Generally, Scottsdale is to the north, Chandler is to the south, Mesa is to the east, and the Ahwatukee Foothills section of Phoenix is to the west. Tempe is most commonly pronounced, temp-ee. A person who lives in Tempe is called a Tempean.  


History:
Tempe got its name in 1879. According to the City of Tempe, "'Lord' Darrell Duppa, an Englishman who helped establish Phoenix, is credited with suggesting the name. The sight of the butte and the wide river, and the nearby expanse of green fields, reminded him of the Vale of Tempe in ancient Greece." The Tempe Chamber of Commerce offers a detailed history of the area.

Tempe Population and Income Statistics:
Median household income (in 2005 inflation-adjusted dollars): $45,644
Percentage of people below poverty level: 13.5% 

Attractions, Special Events, and Malls:
Tempe Center for the Arts, Tempe Town Lake/Tempe Beach Park, Mill Avenue District, ASU Gammage, ASU's Sun Devil Stadium, Tempe Diablo Stadium, Spring Training Home of the Anaheim Angels of Los Angeles, Kiwanis Park, Big Surf Water Park, Tempe Historical Museum, Tempe Festival of the Arts, ASU Sun Devil Football, Insight Bowl, Fiesta Bowl Block Party on New Year's Eve, P.F. Chang's Rock 'n' Roll Arizona Marathon and 1/2 Marathon, Tempe Marketplace, and Arizona Mills Mall. 

Tempe’s largest Employer’s:
Obviously, Arizona State University is a huge employer in Tempe; it is a State of Arizona (government) employer. As far as the private sector is concerned, the largest employers in Tempe are JP Morgan Chase Bank, US Airways (formerly America West Airlines), Motorola, Medtronics Microelectronics and State Farm Insurance. 

What's Special About Tempe, and More:
Certainly, Arizona State University gives Tempe a unique profile in the Greater Phoenix area. When people are looking for places to live in Tempe, it is wise to consider that areas close to ASU and nearby dorms not only tend to have a young and transient population, but also that crime is relatively high there. This is an urban living environment. Other parts of Tempe, to the south and east have more typical neighborhoods for this area in all price ranges. Tempe is unique in that its borders are all defined and have been since 1974; Tempe is landlocked. Growth is now occurring upward, with high rises being built to accommodate the growing population. Near the university in downtown Tempe, Mill Avenue is one of the nicest and most interesting walking neighborhoods in the Valley of the Sun, with restaurants, bars, coffee shops, retail and entertainment. Some of the largest festivals in the area and in the Southwest are held here, and Mill Avenue and the surrounding streets may be closed to vehicular traffic during these events. Tempe Town Lake, also in downtown Tempe, takes up 220 acres, and was created as part of the Rio Salado Project. It was dedicated in 1999, along with an enlarged and remodeled Tempe Beach Park. Tempe Town Lake offers fishing and boating in the midst of an urban setting. Tempe Beach Park often hosts weekend festivals, many of which involve music/bands. Kiwanis Park covers 125 acres, and boasts one of the world's largest indoor/outdoor wave pools.
 


 


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Real Estate Tips
Tax Considerations >Tax Rewards for Homeowners

The Federal Tax Code has significantly improved the American taxpayer's ability to profit by selling a principal residence. Prior to 1997, homeowners could take advantage of a tax benefit termed the "rollover", which granted exemption from capital gains taxes on the net profit from the sale of a home. Homeowners who used profits to purchase a bigger and better home did not have to pay tax. And homeowners over the age of 55 were given a once-in-a-lifetime exclusion from taxes on profits of up to $125,000 on the sale of their principal residence.

Compare those tax breaks with our current, streamlined and potentially more profitable arrangement that replaced both the rollover and the one-time exemption. If you are a married home-seller filing jointly, you may enjoy up to $500,000 in tax-free home sale profits, provided you have occupied the property as your principal residence during two of the last five years. Taxpayers who file singly get a $250,000 capital gains exclusion. Homeowners are eligible to exclude capital gains on the sale of a principal residence as often as once every two years.

The law allows capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one. The tax-free dollars can be used in any way you want. Consult your tax advisor for detailed advice about your particular circumstance.

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Kristine Devine, REALTOR®, real estate agent and broker for Gilbert, Chandler and Mesa Arizona home listings, property and land for sale - NUMBER1EXPERT(tm)

Kristine Devine, CRS
Keller Williams Integrity First Realty

2500 S. Power Rd., Suite 121
Mesa, AZ 85209
Direct: (602) 920-7653
Fax: (480) 889-2123
Toll Free: (800) 595-2130
Kristine@DevineProperties.com

My mission is to Always Care. My vision is to be the Real Estate Team of Choice. Why should you choose Devine Properties? It is difficult to be the pitcher, outfielder, and baseman all at one time. A single agent just cannot field every hit. Whether buying or selling it is a complex process. When you select our group of Real Estate Specialists you are ensured the highest level of professionalism guiding you through every facet of your real estate transaction. Our consultative approach sets us apart from other agents. We do not simply "tell and sell." Our goal is to guide you in making highly effective and informed decisions every step of the way.

CRS GRI ePro REALTOR Equal Housing MLS


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