Sales of luxury homes in Pulaski County showed no signs of slowing down in 2017.
Last year, 33 homes sold for $1 million or more, the highest number since Arkansas Business began tracking them in 2004.
In 2016, 29 homes sold for $1 million or more, up from 20 in 2015. Sales of seven-figure homes hit a low of 13 only five years ago.
And strong sales are continuing. So far this year, nine homes have sold for $1 million or more, and three homes for more than $1 million were under contract last week, Jon Underhill said in an email to Arkansas Business. Underhill sells upscale homes through his agency, Jon Underhill Real Estate of Little Rock.
As of last week, 38 homes were listed for $1 million or more in Pulaski County, he said.
“One reason million-dollar home sales have risen in Little Rock is because of price increases in the overall market,” Underhill said.
“The median home prices in many areas have risen, pushing a lot of homes into the million-dollar price range.”
Debbie Teague
Jon Underhill
Debbie Teague, who sells luxury homes for The Janet Jones Co. in Little Rock, said customers for high-end homes want “all the bells and whistles as far as the wireless home systems.” In addition, high-end homebuyers are seeking unique features, such as beautiful views and impressive locations.
Underhill said clients are also seeking “fabulous swimming pools, indoor/outdoor entertaining spaces and high-end gourmet kitchens. It seems that my clients are entertaining more at home.”
Homebuyers’ ideas of a dream home change annually. Few these days are asking for dedicated theater rooms and high-end home gyms with saunas and steam rooms, Underhill said.
For those who wonder who bought these exclusive homes in Pulaski County, Arkansas Business, using interviews, public real estate records and other documents, has provided a brief description of the homes and the buyers.
All photos by Jason Burt, except No. 2 courtesy of Google Maps and No. 8 (West Pulaski County) by Vince Palermo.
1. $3.5 Million
Buyer: 2318 Palm LLC, led by Miles Stephens
Seller: Marfran LLC, led by Peter de Vos
Neighborhood: Country Club Heights, Little Rock
Date: Dec. 22 | Year Built: 1928 | SF: 5,685
Miles Stephens bought this two-story home near the entry to the Country Club of Little Rock. He is a senior vice president at Stephens Inc. of Little Rock, one of the country’s top investment banks. He offers mergers and acquisitions advice and his sector focus is auto retail, according to Stephens’ website. In 2008, Stephens graduated from Dartmouth College in Hanover, New Hampshire, where he was a history major, and received his MBA in 2014 from Columbia Business School in New York. His father is Warren Stephens, the president and CEO of Stephens Inc. Forbes lists Warren Stephens as one of the richest people in America with a net worth of $2.6 billion.
2. $2.75 Million
Buyer: AMMD Properties LLC, led by Anne and Merritt Dyke
Seller: Randolph & Sarah Hopkins Revocable Trust
Neighborhood: Country Club Heights, Little Rock
Date: Aug. 1 | Year Built: 1937 | SF: 4,971
Anne and Merritt Dyke bought the 4,971-SF house on Aug. 1 and then proceeded to tear it down.
As of last week, a building permit hadn’t been taken out on the site, which overlooks the No. 10 Fairway of the Country Club of Little Rock. Merritt Dyke is chairman of Dyke Industries of Little Rock, a family-owned company that can be traced back to 1866. The company sells building materials, including millwork, lumber, doors and windows, according to the company’s website. Merritt Dyke also is the 2017-18 president of the board of the Arkansas Arts Center.
3. $2.4 Million
Buyer: Brian and Noel Reemtsen
Seller: Rod and Caroline Ford
Neighborhood: Prospect Terrace, Little Rock
Date: Aug. 1 | Year Built: 1931 | SF: 8,444
Noel and Dr. Brian Reemtsen bought this five-bedroom, seven-bathroom home that, according to the real estate website Zillow, features a game room, “picturesque” landscaping, outdoor entertaining areas and pool. Brian Reemtsen, a pediatric cardiothoracic surgeon, was named director of the Heart Institute at Arkansas Children’s Hospital in Little Rock in July. He gained national attention in 2015 at UCLA Mattel Children’s Hospital by transplanting a new heart the size of a strawberry into a 3-week-old, according to a news release from ACH.
4. $2 Million
Buyer: Kimberly and Russ McDonough III
Seller: Jane Hunt Meade Revocable Trust
Neighborhood: Edgehill, Little Rock
Date: Nov. 8 | Year Built: 1948 | SF: 6,187
Kimberly and Russ McDonough III bought this home that, according to Zillow, sits on nearly 2 acres and features a tennis court, pool, outdoor cooking area and gazebo. The home also has covered parking for four cars and a circular drive. Russ McDonough is a partner in Yellow Rocket Concepts, the restaurant group responsible for Big Orange as well as Local Lime, Zaza, Heights Taco & Tamale Co. and Lost Forty Brewing. He also is the former president and CEO of real estate developer Winrock Enterprises Inc. McDonough also owned At Home magazines until he sold them for an undisclosed sum in 2005 to Network Communications Inc. of Lawrenceville, Georgia.
5. $1.92 Million
Buyer: Palisades Park LLC, led by Julie and Lambert Lynn Marshall Jr.
Seller: Craig and Elizabeth Campbell
Neighborhood: Palisades Estates, Little Rock
Date: March 1 | Year Built: 1965 | SF: 4,996
Julie and Lambert Lynn Marshall Jr. bought this nearly 5,000-SF home in the Palisades Estates neighborhood on March 1, 2017. Lynn Marshall is the chairman of the board of Malvern National Bank, which has 15 offices in Arkansas. Julie Marshall is the executive vice president of partner management and development for Life & Specialty Ventures, which is a Little Rock holding company that owns and operates the insurance companies USAble Life of Little Rock and Florida Combined Life of Jacksonville, Florida. The combined companies have more than 500 employees and cover more than 2.7 million people, according to the company’s website.
6. $1.9 Million
Buyer: Steven and Gay Anthony
Seller: Charles Ensminger Revocable Trust
Neighborhood: Kingwood Place, Little Rock
Date: Oct. 17 | Year Built: 1964 | SF: 4,970
Steve Anthony was attracted to the four-bedroom home because it was designed by the legendary architect Fay Jones, he said, and it is on about 8 acres of land. “Even though we weren’t actively looking, those types of properties don’t come on the market very often,” said Anthony, president of Anthony Timberlands Inc. of Bearden, which operates timber-processing facilities and manages more than 200,000 acres of south Arkansas timberland. The two-story home, named Pine Knoll, overlooks the Arkansas River and has a view of the Big Dam Bridge.
7. $1.78 Million
Buyer: ALHS LLC, led by Sam and Heather Carter
Seller: Lucinda and Donald Phelps
Neighborhood: Edgehill, Little Rock
Date: Oct. 24 | Year Built: 1937 | SF: 4,667
Sam and Heather Carter bought this four-bedroom, four-bath home featuring “numerous renovations and the pinnacle in quality craftsmanship,” according to Zillow. The home also has vaulted brick ceilings and floor-to-ceiling arched windows that overlook the pool and “immaculate grounds,” the website said. Sam Carter is an owner of Second Class Books Inc., which operates as High Country Books and sells college textbooks and component course material. His father was Paul Carter, who retired from Walmart Inc. as chief financial officer in 2003 and died in 2009.
8. $1.75 Million
Buyer: Kristy D. Spann Revocable Trust
Seller: Mark Gibbs and Karla Gibbs
Neighborhood: West Pulaski County
Date: Nov. 27 | Year Built: 2003 | SF: 10,032
Kristy D. Spann bought this 10,032-SF home that, according to Zillow, features limestone floors and countertops in the kitchen and bathrooms. The west Pulaski County home also touts a climate-controlled wine cellar, the website said. An entertainment area and full kitchen are next to the stone pool deck. Spann is married to Dr. Michael L. Spann, a plastic and reconstructive surgeon and the founder of Little Rock Plastic Surgery. He said on his website that he is among the few surgeons who have a double board certification, in general and plastic surgery.
8. $1.75 Million
Buyer: Rowan Development LLC, led by Jasen Chi
Seller: Karmen and Steve Landers Jr.
Neighborhood: Chenal Downs, Little Rock
Date: March 23 | Year Built: 2007 | SF: 9,326
Dr. Jasen Chi bought this 9,326-SF home that Zillow said is the “ultimate setting for enjoying the best in family living and entertaining friends.” It has a gourmet kitchen, a game room and a family room with a soaring ceiling and stone fireplace. It also has a pool with a waterslide. Chi’s primary specialty is internal medicine, and he practices at OrthoArkansas in Little Rock. OrthoArkansas’ website says the Taiwan native received his undergraduate degree from Vanderbilt University and his medical degree from the University of Arkansas for Medical Sciences.
9. $1.7 Million
Buyer: Amber and Rodney Heath McCarver
Seller: Gregory and Brittany Wood
Neighborhood: Waterview Estates, Roland
Date: Feb. 10 | Year Built: 2007 | SF: 8,876
Amber McCarver and her husband had been looking for about two years for the perfect house and were close to hiring a homebuilder before they decided to buy the 8,876-SF, two-story manor, she said. The home has “amazing” views, she said, overlooking Lake Maumelle and the Alotian Club, which is ranked No. 27 on Golf Digest’s America’s 100 Greatest Golf Courses of 2017-18. The home features six bedrooms, a theater room, an upstairs living room and a pool. Dr. Rodney Heath McCarver is an anesthesiologist and pain management physician who practices at Advanced Spine & Pain Centers.
Pulaski County Home Sales of $1 Million or More in 2017
Ranked by price (in millions)
Price | Buyer | Seller | Neighborhood* | Date | SF | Year Built |
$3.50 | 2318 Palm LLC, led by Miles Stephens | Marfran LLC led by Peter de Vos | Country Club Heights | Dec. 22 | 5,685 | 1928 |
$2.75** | AMMD Properties LLC, led by Anne and Merritt Dyke | Randolph & Sarah Hopkins Revocable Trust | Country Club Heights | Aug. 1 | 4,971 | 1937 |
$2.40 | Brian and Noel Reemtsen | Rod and Caroline Ford | Prospect Terrace | Aug. 1 | 8,444 | 1931 |
$2.00 | Kimberly and Russ McDonough III | Jane Hunt Meade Revocable Trust | Edgehill | Nov. 8 | 6,187 | 1948 |
$1.92 | Palisades Park LLC, led by Julie and Lambert Lynn Marshall Jr. | Craig and Elizabeth Campbell | Palisades Estates | Mar. 1 | 4,996 | 1965 |
$1.90 | Steven and Gay Anthony | Charles Ensminger Revocable Trust | Kingwood Place | Oct. 17 | 4,970 | 1964 |
$1.78 | ALHS LLC, led by Sam and Heather Carter | Lucinda and Donald Phelps | Edgehill | Oct. 24 | 4,667 | 1937 |
$1.75 | Kristy D. Spann Revocable Trust | Mark Gibbs and Karla Gibbs | West Pulaski County | Nov. 27 | 10,032 | 2003 |
$1.75 | Rowan Development LLC, led by Jasen Chi | Karmen and Steve Landers Jr. | Chenal Downs | Mar. 23 | 9,326 | 2007 |
$1.70 | Amber and Rodney Heath McCarver | Gregory and Brittany Wood | Waterview Estates, Roland | Feb. 10 | 8,876 | 2007 |
$1.68 | YanJun LLC, led by Mark McLarty | McGill Terrace LLC, led by Mack and Donna McLarty | Greenbrier | May. 8 | 5,140 | 1969 |
$1.55 | Joseph and Robin Small | Michael and Tina Talbert | Sologne Circle | Jun. 29 | 7,813 | 2007 |
$1.47 | Brad and Jodi Thomas | James and Brooks Klepper | Heights | Mar. 30 | 5,873 | 2011 |
$1.47 | James and Patricia Wallis | Jeffrey and Tiffany Weatherly | River Club | Aug. 1 | 6,235 | 2000 |
$1.40# | Rick and Deanna Ferguson | Oscar & Doris Washington Family Trust | Orle | Apr. 13 | 8,832 | 2007 |
$1.39 | James and Paulette Ward | Christy Properties LLC, led by Chris Christy | Chenal Downs | Jul. 14 | 10,943 | 2005 |
$1.38 | Mark McMurry | David Swindle and Suzanne McGee-Swindle | Beau Vue Estates | May. 30 | 6,645 | 2010 |
$1.37 | Zachary and Charrell Roe | Ernie and Karen Cline | Greathouse Bend Estates | Apr. 28 | 6,470 | 2008 |
$1.26 | Joey and Leslie Wiggins | William and Tracie Pugh | Chenal Downs | Dec. 29 | 6,662 | 2014 |
$1.21 | RAL Revocable Trust, led by Marilyn Rene Nauman | Lowell Steven Jumper & Sheila Dianne Jumper Revocable Trust | Sologne Circle | Feb. 24 | 7,099 | 2008 |
$1.20 | Claudia and Heartsill Ragon III | Linda LaFrance Revocable Trust | Downtown Little Rock | Jun. 20 | 3,381 | 2007 |
$1.20 | David and Shuo Rainosek | Gregg and Brandy Tarini | Chenal Downs | May. 10 | 7,476 | 2009 |
$1.20 | Alfred and Brenda Herget | Craig and Gretchen Farrell | Sologne Circle | Apr. 7 | 7,086 | 2010 |
$1.20 | FHG Trust, led by Liza and Jon Christopher Wright | Michael and Kathryn Sutherland | Heights | Oct. 13 | 5,391 | 2002 |
$1.10 | Anderson Revocable Trust, led by Overton and Kay Anderson | Rhodes Joint Revocable Trust, led by Martin and Patricia Rhodes | Country Club of Little Rock | Oct. 31 | 4,280 | 1956 |
$1.10 | Deborah and Robert Bass Jr. | John Dickens | Country Club of Little Rock | Oct. 26 | 5,770 | 2011 |
$1.10 | Demp and Paula Dempsey | Nancy and Arthur Phillips Jr. | Country Club Heights | Sept. 19 | 5,658 | 2002 |
$1.05 | Anthony and Rosanne Pignio | Brent and Peri Gay Walker | Sologne Circle | Jun. 1 | 6,369 | 2005 |
$1.05 | Mangaraju Chakka and Kanthi Dasani | Estate of Jerry Haynie | River Ridge | Jan. 9 | 9,086 | 1972 |
$1.04 | Raja Pola and Rajani Jagana | Dennis and Tina Porter | Germay Court | Aug. 31 | 5,753 | 2005 |
$1.02 | Eric Daniel Merriman Trust | Linda D. Gleason Revocable Trust | Chenal Circle | Dec. 6 | 6,605 | 1991 |
$1.00 | Hawthorne Trust, led by John Rutledge | Virginia Mitchell Revocable Trust | Heights | Sept. 5 | 2,504 | 1925 |
$1.00 | 317 Property Trust, led by John Stephens | Susan Woodyard | Country Club of Little Rock | Jun. 15 | 4,554 | 1954 |
*Neighborhood is in Little Rock unless noted
**Property has been razed
#Rick and Deanna Ferguson and limited liability companies associated with his real estate developments traded seven lots in the Waterview Estates neighborhood of west Pulaski County and one lot in Little Rock’s Valley Falls Estates neighborhood for the house valued at $1.4 million.