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.

In January 2007, Dr. Richard Evans and his wife, Sandra, spent $1.3 million on their 4,400-SF home near the Country Club of Little Rock. They bought their home from William and Patricia Coker.

Dr. Evans practices orthopedic surgery in Little Rock and is an associate professor of orthopedics at the University of Arkansas for Medical Sciences. He is a hip and knee replacement specialist. Evans graduated from the University of Colorado School of Medicine in Denver in 1982. He was named Orthopedic Surgeon of the Year in 2001 by Consumer Business Review in Denver.

Rick D. Henderson bought his $1.44 million home from J. Michael and Gina Calhoun in November 2007. The 6,268-SF spread is in west Little Rock's Chenal Downs neighborhood.

In 1978, Henderson founded Apple Tree Service of North Little Rock. Apple Tree provides utility line clearance services to electric cooperatives and city- and investor-owned utilities in Arkansas and the surrounding states. Henderson is the president and owner of the company.

On March 15, 2007, Sugarloaf Estates LLC, led by the Ron W. Strother Revocable Trust, swapped his North Little Rock home for a 5,669-SF home in west Little Rock's Valley Fall Estates neighborhood. The seller was 2610 Acres LLC, led by Rick Ferguson.

Strother is president, chief operating officer and director of Home BancShares Inc. of Conway. In 2007, his total compensation from Home BancShares was just over $400,000. In 2006, the compensation was $378,456.

Ferguson, through his Sunset Bay I LLC, swapped another seven-figure home in March 2007 to R. Huckaby Development LLC, led by Russell Huckaby. This 7,543-SF house in west Little Rock's Chenal Valley neighborhood tipped the scales at $1.85 million.

In return, Ferguson received - and still owns - a 5,669-SF house in Valley Falls Estates, a property that was part of an earlier transaction valued at $2 million between him and Huckaby.

Russell Huckaby is founder and president of R. Huckaby Developments.

Wendy and Stephen LaFrance Jr. are on the $1 million home sales list again.

In 2005, they spent $1.3 million to buy a 4,200-SF home at 40 Edgehill Road, where they still live. In July 2007, they bought a 5,520-SF house a few doors down at 11 Edgehill Road, from Jerry and Sue Maulden for $1.94 million.

LaFrance is the son of Stephen LaFrance Sr., chairman of Stephen LaFrance Pharmacy Inc. of Pine Bluff, which includes the retail chains USA Drug, Super D Drugs, Ike's Deep Discount Drug and May Drug Stores. USA Drug had sales estimated at $560 million in 2007, which put it at No. 16 on Arkansas Business' recent list of the state's largest private companies.



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