Who Pays $1 Million for a Home?

by Mark Friedman  on Monday, Jun. 23, 2008 12:00 am  

Sam and Sara Larimore discovered their $1.4 million "wow house" in west Little Rock's Chenal Circle neighborhood.

"The layout is good and, obviously, you're going to have a lot more space," Beck said. "The larger bedrooms, to me, were a nice touch, and the bigger bathrooms."

Beck, who oversees the flight school operations at Central Flying Service, said he's building two other homes for family members on the 80-acre property. One will be 5,000 SF and the other 6,500 SF.

Beck bought the land with his son, Jason Beck, who is a doctor, and his daughter, Monica Glover, who is an attorney.

"We purchased the land to have a lot of space, and that was another appealing factor of that piece of property," Barry Beck said. "There are people that are buying more land out there and putting nice homes on it."

In February 2007, Ken Gunderman was appointed executive vice president in charge of the investment banking division of Stephens Inc., the full-service investment banking and brokerage firm based in Little Rock. Three months later, he and his wife, Stephanie, bought their 4,006-SF, $1.05 million home near the Country Club of Little Rock from Russell McDonough III.

Just before McDonough sold his home to the Gundermans, he bought a new house for $1.3 million.

McDonough purchased the 3,948-SF home - also in the Country Club of Little Rock neighborhood - from OBB Trust, led by Randall and Anne Bynum.

McDonough is the former president and CEO of real estate developer Winrock Enterprises. McDonough also owned the At Home magazines until he sold them for an undisclosed amount in 2005 to Network Communications Inc. of Lawrenceville, Ga. McDonough also was instrumental in bringing the magazine Oxford American from Mississippi to Little Rock in 2002.

Amy and Dr. Brad Baltz purchased their 5,467-SF home in west Little Rock's Chenal Valley neighborhood because he liked the lot and the backyard.

The $1.2 million, four-bedroom home has afternoon shade and a pool.

"Our previous house faced the afternoon sun," Dr. Baltz said. "That was kind of the main thing for the kids, to make sure they had an area that they could play in."

Baltz graduated from the University of Arkansas for Medical Sciences and practices hematology and oncology.



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