Altered Tack Doesnt Dim St. Valery Downs

Perhaps it’s appropriate the upscale neighborhood St. Valery Downs initially was designed as an equestrian community.

It isn’t uncommon, after all, for a horse to stray from the desired path.

Similarly, you won’t find a horse barn, paddock, stall or any other equestrian components in this 81-lot, 120-acre community in northern Cave Springs near the Bentonville city limits. What you will find is a gated neighborhood that has matured into a premier residential destination for retail vendors, Wal-Mart Stores Inc. executives and other professionals who enjoy high-end living in a family atmosphere.

“A lot of my buyers like it because they like [the idea of] a large home inside a gated country club,” said John Mayer, senior vice president at Coldwell Banker Harris McHaney Faucette in Rogers. “But it’s a more relaxed and private feeling, compared to the busybody atmosphere of some of the other gated communities.”

Josh Breeden, who succeeded Jerry Duncan as president of the St. Valery Downs Property Owners Association less than a year ago, agreed with Mayer’s assessment.

“You don’t feel like you’re in everybody’s business out here,” he said. “Every lot is about an acre, so you have your personal space. It’s a little more private. And a gated community makes people feel safe.”

The neighborhood’s location, Breeden and Mayer agreed, also is a selling point. The recent widening of I Street provides a direct shot to Wal-Mart headquarters in just minutes, and residents can get to Interstate 540 — about 1.5 miles away — with ease.

The residents also are aware, Breeden pointed out, of the shortcut to the Pinnacle Hills area, via the Elk Road/Rainbow Road/Stony Brook Road route that comes out behind the Village on the Creeks development.

The recent announcement of a Walmart Neighborhood Market being built less than a mile away at I Street and Arkansas Highway 12 also was exciting news, Breeden said.

“This is becoming a central location of anything that you need,” he said. “I Street getting done has alleviated so many traffic issues.”

 

Initial Plans

The initial developers of St. Valery Downs envisioned a traditional subdivision, but with equestrian facilities to board homeowners’ horses.

Developers Arnold D. “Tuffy” Lehman and his son, John, principals of Arnold Lehman Builders, bought the land for the development from Jerry Cook and Dr. Charles Hatfield through multiple transactions in 2000.

Construction on the neighborhood  — named after St. Valeria, the patron saint of hay-making — began in the summer of 2001 and the plat was accepted in September 2002. Northstar Engineering Consultants Inc. of Bentonville was the engineer.

A report in a March 2003 issue of the Northwest Arkansas Business Journal valued the development infrastructure — including streets, curbs and utility work — at about $6 million.

Tuffy Lehman had developed other tony communities in Bentonville, including Hanover, Stonehenge and Heathrow. In a recent telephone interview, he recalled high interest and fast-selling lots at St. Valery Downs, ranging in price from $60,000 to $80,000.

“We were doing pretty good,” said Lehman, now 75.

But his experience told him the building boom was going to slow down, and he decided to cut ties with the development.

“After 48 years, you just kind of get a gut feeling,” he explained. “[The economy] just didn’t look good and I felt I could probably do better just to cut back a little.”

In late summer of 2004, a buyer presented himself to the Lehmans, giving them their opportunity to sever ties with the development. They sold the remaining 39 lots to this young developer, who was acquiring property in Northwest Arkansas seemingly as fast as he could buy it.

Of course, it was Brandon Barber, whose many failed real estate projects eventually led to his Chapter 11 bankruptcy filing in 2009.

“His company [SCB Investments] came in and [Barber] told me he wanted to buy some lots,” Lehman recalled. “I said, ‘How many?’ He said, ‘All of ‘em you got.’”

Barber paid the Lehmans $2.98 million, about $76,000 for each lot, and had resold most of them within just a few months. The profit ranged from about $20,000 to $30,000 per lot.

Other lots, however, ended up in the portfolio of First State Bank of Lonoke as Barber’s vast collection of real estate holdings began to crumble under the strain of financial difficulties.

By 2009, Barber or his companies were named in 34 lawsuits. In 13 of those, a judgment had been entered against him.

With the Lehmans’ exit, the idea of an equestrian community died. Barber did not have an interest in furthering the idea, and sold the seven acres where the facilities were to be constructed to a group of St. Valery Downs property owners who did.

Their entity — The Stables at St. Valery LLC, managed by Tanglewood Homes Inc. owner John Tidwell — paid Barber $300,000 for the land in May 2005. A building was constructed, but their plans to keep alive the equestrian component of the neighborhood never came to fruition, either.

The building and land changed hands again in December 2007, when First Christian Church of Bentonville paid the residents $595,000 for the facility, which was first a stable, and later an office for a homebuilder.

The congregation moved its WaterWay services, which had been held at nearby Central Park at Morning Star Elementary School, to the facility in January 2008. Church members later upgraded a large hall in the back of the building for a sanctuary that seats about 200.

As for St. Valery Downs, after some slow growth during the economic downturn — and enduring the fallout from Barber’s involvement — the subdivision has made a comeback during the last two years, Mayer said.

“Even with all that’s gone on out there, it has emerged as a great neighborhood,” Mayer said, noting the activity of homebuilders Mike Payne, with Payne Construction Co., and Bill and Dana Lesly, of Tall Oaks Construction LLC, helped spur the development’s turnaround.

Breeden added that the lots that were tied to Barber, and were later bank-owned, now all have owners, and he estimates only eight lots don’t have houses. He said construction activity is adding to the neighborhood’s inventory of homes, which must be at least 4,000 SF, according to the development’s amended covenants.

“There are two houses being built right now that are well over 5,000 [square] feet, and one of them is pushing 8,000,” he said. “It’s a Mediterranean-style house and it’s a whopper.”

POA dues are $720 annually, Breeden said. Other covenant regulations prohibit any yard signs, such as political signs, and parking in the streets. Also, seasonal decorations and lighting must be removed within 30 days of the holiday date.

 

By the Numbers

Starting in 1997 with the Champions Golf & Country Club addition in Rogers, the Business Journal annually profiles an upscale neighborhood in either Benton or Washington county.

Financial information on individual residences is obtained from public records at the Benton County assessor’s office.

Past profiles have included Brookbury Woods (2000) and Candlewood (2005) subdivisions in Fayetteville; Stonebriar/Talamore (2007) and Stonehenge (2011) in Bentonville; Springdale’s Woodcliff (2002); and Pinnacle (2009) and Shadow Valley (2006) in Rogers.

The largest home ever profiled was Bob and Linda Gaddy’s 11,322-SF home on Lover’s Lane in Fayetteville, which appeared in the 2003 issue.

This year, the Business Journal profiled 63 homes using the most recent appraisal information from the assessor’s office. A few homes built in the neighborhood since the county’s last property review haven’t yet been appraised.

One of them belongs to Breeden, whose home was completed late last year.

He and his wife have lived in Bentonville for a little more than three years. They bought their lot at St. Valery Downs in December 2010. He was installed as POA president about eight months ago, even before he had moved into the subdivision.

“We were living in an apartment initially because I didn’t know if my wife would like it here,” said Breeden, who relocated from Knoxville, Tenn., to work as a national account manager for Blue Ocean Innovative Solutions Inc., a retail, pharmacy and health care consulting firm. “It was her first time away from Knoxville and her family. We said we’ll try this thing out, and man, she loves it. Northwest Arkansas is a great place to live and now we have a great house in a great neighborhood.”

The combined appraised value of the 63 homes in St. Valery Downs is $37.96 million, or an average of $602,462 per home.

Most of those assessments were assigned in 2011; however, the increase in home values in the development is reflected in the prices of homes presently for sale.

As of mid-March, seven homes were on the market, with an average list price of $707,257, or $144.50 per SF, and average size of 4,895 SF.

The average lot size in St. Valery Downs is 1 acre, ranging from 0.79 to 1.6 acres.

Central Park at Morning Star Elementary and Pine Crest Private School are within walking distance, across Arkansas Highway 112.

The largest and most expensive home in St. Valery Downs is at 4010 Englefield Drive. The 6,788-SF home owned by the Robbins Family Revocable Trust, controlled by Darrin and Sandra Robbins, was valued last year at $885,200.

Darrin Robbins is the senior manager for produce at Wal-Mart.

Here is a look at the homes in St. Valery Downs. The profile numbers correspond to the actual lot numbers.

 

Phase I

1. Josh & Mallory Breeden

The lot appraised in 2011 for $57,500.

Breeden bought the lot in December 2010 from First State Bank of Lonoke for $48,000. The bank acquired the lot from DFOM LLC in December 2008. DFOM acquired the lot from SCB Investments LLC in February 2008. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

2. Robbins Family Revocable Trust

4010 Englefield Drive

The 6,755-SF home was built in 2011, and appraised in 2012 for $885,200. Robbins bought the lot and the adjacent Lot No. 3 in August 2010 from First State Bank of Lonoke for $90,000. The bank acquired the lot from DFOM LLC in December 2008. DFOM acquired the lot from SCB Investments LLC in February 2008. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

3. Robbins Family Revocable Trust

The lot was appraised in 2012 for $28,750.

 

4. Joseph & Jane Lisuzzo

4004 Englefield Drive

The 4,646-SF home was built in 2011, and appraised in 2012 for $608,900. Lisuzzo bought the lot in July 2010 from First State Bank of Lonoke for $52,000. The bank acquired the lot from DFOM LLC in December 2008. DFOM acquired the lot from SCB Investments LLC in February 2008. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

5. Alam Family Trust

The lot appraised in 2011 for $57,500.

Alam bought the lot in August 2007 from SCB Investments LLC for $72,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

6. Woodlin Living Trust

4036 Caerleon Circle

The 4,255-SF home was built in 2005, and appraised in 2011 for $652,000. Woodlin bought the home in August 2010 from HSBC Bank USA for $611,000. The bank acquired the home in July 2010 from Robert and Melissa Reed. Reed bought the home in July 2006 from Sirva Relocation LLC for $862,000. Sirva bought the home in July 2006 from Howard and Patricia Lee for $900,000. Lee bought the home in August 2005 from SF Investment Properties Co. LLC for $804,000. SF Investment bought the land in June 2004 from The Arnold D. Lehman Revocable Trust for $78,000.

 

7. Mark Melton Construction Inc.

The lot appraised in 2011 for $57,500.

Melton bought the lot in January from the Huff Family Trust for $73,000. Huff bought the lot in December 2010 from Jeffrey and Melody Charlson for $62,000. Charlson bought the lot in July 2004 from Tanglewood Homes Inc. for $78,000. Tanglewood bought the lot and three others from The Arnold D. Lehman Revocable Trust in March 2004 for $284,000.

 

8. Mark Melton Construction Inc.

The lot appraised in 2011 for $69,000.

Melton bought the lot in December from The Mawby Family Revocable Trust for $75,000. Mawby bought the lot in April from Scott and Kelly Kennon for $77,000. Kennon bought the lot in May 2010 from Wade and Elizabeth Ann Fox for $70,000. Fox bought the lot from SCB Investments LLC in September 2005 for $95,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

9. Sehar Atif & Atif Ahmer Meraj

The lot appraised in 2012 for $69,000.

Meraj bought the lot in December from Gary Larson and Mildred Ehrhart for $96,030. Larson and Ehrhart bought the lot from Grand Homes LLC in June 2006 for $94,000. Grand Homes bought the lot in November 2004 from SCB Investments LLC for $95,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

10. Robert & Andrea Pearson-Hurst

4052 Caerleon Circle

The 4,403-SF home was built in 2004, and appraised in 2011 for $635,950. Hurst bought the land in August 2003 from The Arnold D. Lehman Revocable Trust for $81,000.

 

11. Jhablass & Tonya Balmakund

4060 Caerleon Circle

The 3,799-SF home was built in 2007, and appraised in 2011 for $627,500. Balmakund bought the two-story home in July 2008 from First Western Bank for $530,000. The bank acquired the home in February 2008. Leroy and Gloria Jean Meyer bought the land in May 2004 from The Arnold D. Lehman Revocable Trust for $92,000.

 

12. Marc & Maribeth Williams

4064 Caerleon Circle

The 4,087-SF home was built in 2005, and appraised in 2011 for $616,400. Williams bought the single-story home in May 2010 from John and Sara Tidwell for $640,000. Tidwell acquired the property in March 2005 from Tanglewood Homes Inc. Tanglewood bought the lot and four others in July 2003 from The Arnold D. Lehman Revocable Trust for $358,000.

 

13. Michael & Melissa Berry

4068 Caerleon Circle

The 5,422-SF home was built in 2004, and appraised in 2012 for $702,800. Berry bought the land in June 2003 from The Arnold D. Lehman Revocable Trust for $71,000.

 

14. Edwin & Robyn Nelson

4072 Caerleon Circle

The 4,908-SF home was built in 2006, and appraised in 2011 for $635,350. Nelson bought the home in March 2010 from Wells Fargo Bank for $527,000. The bank acquired the home in February 2010 from David and Carson Myers. Myers bought the land in January 2006 from John and Sara Tidwell for $115,000. Tidwell bought the land in June 2005 from Bradley and Rebecca Umbarger for $105,000. Umbarger bought the land in August 2003 from The Arnold D. Lehman Revocable Trust for $71,000.

 

15. James Lee & De Ann Michelle Elliott

The lot appraised in 2011 for $57,500.

Elliott bought the land in January 2011 from the Kendall Family Trust for $100,000. Kendall bought the lot in November 2003 from The Arnold D. Lehman Revocable Trust for $77,000.

 

16. Catherine Elizabeth Reid Trust

4080 Caerleon Circle

The 4,680-SF home was built in 2003, and appraised in 2012 for $619,050. Reid bought the home in June 2008 from the McCormick Trust for $795,000. McCormick bought the lot in December 2002 from The Arnold D. Lehman Revocable Trust for $72,000.

 

17. Jeffrey & Lisa Parker Revocable Trust

4084 Caerleon Circle

The 4,110-SF home was built in 2005, and appraised in 2011 for $608,000. Parker bought the home in October 2009 from Thomas and Lori Brittain for $661,000. Brittain bought the lot in December 2003 from The Arnold D. Lehman Revocable Trust for $71,500.

 

18. Fred & Mary Hubble

4088 Caerleon Circle

The 5,539-SF home was built in 2004, and appraised in 2011 for $657,500. Hubble bought the lot in August 2003 from The Arnold D. Lehman Revocable Trust for $90,000.

 

1. 19. Andy & Stacy Barron Trust           

4092 Caerleon Circle

The 3,928-SF home was built in 2005, and appraised in 2011 for $563,650. Barron bought the lot in September 2003 from The Arnold D. Lehman Revocable Trust for $76,000.

 

20. Kirby & Christie Harris

4096 Caerleon Circle

The 3,894-SF home was built in 2004, and appraised in 2011 for $452,850. Harris bought the home in May 2010 from William and Nancy Arnold for $452,000. Arnold bought the home in April 2007 from Brian and Mary Phillips for $425,000. Phillips bought the home in August 2004 from Homes by Ward Inc. for $550,000. Homes by Ward bought the lot in July 2003 from The Arnold D. Lehman Revocable Trust for $71,000.

 

21. Timothy & Laura Rivera

4100 Caerleon Circle

The 3,897-SF home was built in 2004 ,and appraised in 2011 for $520,650. Rivera acquired the property from Leo and Carol Crosta in June 2011. Rivera and Crosta bought the property in May 2010 from the Nichol Family Trust for $550,000. Nichol bought the lot in September 2003 from The Arnold D. Lehman Revocable Trust for $70,000.

 

1. 22. Amy Fry and Michael Stimis           

4104 Caerleon Circle

The 4,141-SF home was built in 2004, and appraised in 2011 for $619,250. Fry and Stimis bought the home in June 2009 from Wayne and Lori McKnight for $599,000. McKnight bought the home in April 2004 from The Arnold D. Lehman Revocable Trust for $$676,000.

 

23. Tall Oaks Construction LLC

The lot appraised in 2011 for $57,500.

Tall Oaks bought the lot in October from Todd and Kathy Matherly for $61,000. Matherly bought the lot in December 2010 from John and Amy Gramling for $60,000. Gramling bought the lot in March 2009 from Wayne and Lori McKnight for $59,000. McKnight bought the lot in April 2004 from The Arnold D. Lehman Revocable Trust for $59,000.

 

24. Hugh & Lori Jackson

4120 Caerleon Circle

The 4,344-SF home was built in 2010, and appraised for $556,550. Jackson bought the lot from Brian and Deanne Walker in January 2010 for $70,000. Walker bought the lot in September 2003 from The Arnold D. Lehman Revocable Trust for $79,000.

 

25. Penny A. Wells-Sims Trust

3951 Daventry Drive

The 4,392-SF home was built in 2004, and appraised in 2011 for $570,650. Wells-Sims bought the home in September 2004 from Winning Designs Inc. for $630,000. Winning Designs bought the lot in October 2003 from The Arnold D. Lehman Revocable Trust for $80,000.

 

26. Mark & Waynette Chambers

4130 Caerleon Circle

The 4,608-SF home was built in 2007, and appraised in 2011 for $609,300. Chambers bought the lot in March 2006 from Winning Designs Inc. for $103,000. Winning Designs bought the lot and Lot 29 from The Arnold D. Lehman Revocable Trust for $80,000.

 

27. Richard James & Tracey Battye

4132 Caerleon Circle

The 4,776-SF home was built in 2005, and appraised in 2011 for $646,650. Battye bought the home in December 2009 from Sanjeeb and Jharana Shrestha for $575,000. Shrestha bought the lot in May 2004 from Unique Concepts Inc. for $78,000. Unique Concepts bought the land in March 2004 from The Arnold D. Lehman Revocable Trust for $159,000.

 

28. Jeffrey & Ginger Sluder

4136 Caerleon Circle

The 5,011-SF home was built in 2005, and appraised in 2011 for $679,200. Sluder bought the home in July 2010 from Mark and Susan (Burnett) Hill for $711,000. Susan Burnett acquired the home from John Burnett in September 2009. Burnett bought the home in January 2008 from Donald and Sandra Romoser for $750,000. Romoser bought the home in June 2005 from Unique Concepts Inc. for $800,000. Unique Concepts bought the land in January 2004 from The Arnold D. Lehman Revocable Trust for $76,000.

 

29. Greg & Tracey Lancelot

This lot appraised in 2011 for $74,750.

Lancelot bought the lot in August 2011 from Sheila Winn and Penny Wells-Sims for $76,000. Winn and Wells-Sims acquired the lot from Winning Designs Inc. in June 2008. Winning Designs acquired the lot and Lot 26 in March 2004 from The Arnold D. Lehman Revocable Trust for $159,000.

 

30. Gary & Marissa Schubert

4144 Caerleon Circle

The 4,489-SF home was built in 2011, and appraised in 2012 for $570,100. Schubert bought the home in September 2011 from Riggins Construction Inc. for $500,000. Riggins bought the lot in December 2010 from First State Bank of Lonoke for $48,000. The bank acquired the lot from DFOM LLC in December 2008. DFOM acquired the lot from SCB Investments LLC in February 2008. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

31. Bobby & Denise Wright

4000 Caerleon Circle

The 4,965-SF home was built in 2011, and appraised in 2012 for $596,800. Wright bought the home in July 2011 from Kendall Riggins for $530,000. Riggins bought the lot in December 2010 from First State Bank of Lonoke for $48,000. The bank acquired the lot from DFOM LLC in December 2008. DFOM acquired the lot from SCB Investments LLC in February 2008. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

32. James & Andrea Brodbeck

4001 Ratcliffe Drive

The 4,214-SF home was built in 2006, and appraised in 2012 for $564,900. Brodbeck bought the home in December 2010 from Pinnacle View LLC for $493,000. Pinnacle View bought the lot and the adjacent Lot No. 33 in February 2005 from SCB Investments LLC for $200,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

33. Craig & Rita Seckington

4005 Ratcliffe Drive

The 3,880-SF home was built in 2006, and appraised in 2012 for $566,700. Seckington bought the home in April 2008 from Pinnacle View LLC for $540,000. Pinnacle View bought the lot and adjacent Lot No. 32 in February 2005 from SCB Investments LLC for $200,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

34. Clinton & Elizabeth Fox

4009 Ratcliffe Drive

The 4,149-SF home was built in 2005, and appraised in 2011 for $525,100. Fox bought the home in September 2006 from Zoe Unlimited Inc. for $571,000. Zoe Unlimited bought the lot in March 2005 from SCB Investments LLC for $100,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

35. Janak & Keli Patel

4013 Ratcliffe Drive

The 3,922-SF home was built in 2005, and appraised in 2012 for $435,350. Patel bought the home in November 2011 from The Capital Bank for $355,000. The Capital Bank acquired the home from JKS Landholdings LLC in June 2010. JKS acquired the lot from S.F. Investments Properties Co. LLC in August 2008. S.F. Investments bought the lot from The Arnold D. Lehman Revocable Trust in May 2004 for $76,000.

 

36. Richard & Renee Phillips

4017 Ratcliffe Drive

The 3,664-SF home was built in 2006, and appraised in 2011 for $481,300. Phillips bought the two-story home in June 2008 from S.F. Investments Properties Co. LLC for $492,000. S.F. Investments bought the lot from The Arnold D. Lehman Revocable Trust in June 2004 for $78,000.

 

37. James & Megan Baber

4021 Ratcliffe Drive

The 3,676-SF home was built in 2005, and appraised in 2011 for $491,300. Baber bought the home in November 2008 from Legacy National Bank for $435,000. The bank acquired the home from Celtic Construction Inc. in September 2008. Celtic Construction bought the lot in November 2004 from SCB Investments LLC for $99,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million. Lehman bought the lot in December 2003 from Brittain Custom Homes Inc. for $75,000.

 

38. DG & TG Trust

4025 Ratcliffe Drive

The 5,084-SF home was built in 2005, and appraised in 2011 for $598,450. DG bought the home in August 2006 from Stahl Enterprises LLC for $721,000. Stahl bought the land in November 2004 from SCB Investments LLC for $115,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

39. Randy & Lois Jean Rodgers

4029 Ratcliffe Drive

The 4,024-SF home was built in 2004, and appraised in 2012 for $512,150. Rodgers bought the lot in August 2003 from The Arnold D. Lehman Revocable Trust for $90,000.

 

40. Clifta & Dale Morrell

350 Barnstone Lane

The 5,440-SF home was built in 2004, and appraised in 2011 for $741,700. Morrell bought the home in December 2004 from Tanglewood Homes Inc. for $825,000. Tanglewood bought the lot and four others in July 2003 from The Arnold D. Lehman Revocable Trust for $358,000.

 

41. Cory & Hsin Hua Jensen

4013 Englefield Drive

The 3,577-SF home was built in 2008, and appraised in 2012 for $534,000. Jensen bought the land from SCB Investments LLC in March 2007 for $70,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

42. Travis & Jami Lamontagne

The lot appraised in 2011 for $57,500.

Lamontagne bought the land in March 2011 from First State Bank of Lonoke for $48,000. The bank acquired the lot from DFOM LLC in December 2008. DFOM acquired the lot from SCB Investments LLC in February 2008. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

1. 43. Stephen & Sarah Phelan           

359 Barnstone Lane

The 4,610-SF home was built in 2010, and appraised in 2012 for $558,000. Phelan bought the home in June from Jean and Danielle Robinson Briand for $568,000. Briand bought the home in May 2010 from Payne Construction Inc. for $577,000. Payne Construction bought the lot in July 2009 from First State Bank of Lonoke for $55,000. The bank acquired the lot from DFOM LLC in December 2008. DFOM acquired the lot from SCB Investments LLC in February 2008. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

44. Robert & Michelle Beitscher

355 Barnstone Lane

The 4,547-SF home was built in 2004, and appraised in 2011 for $613,350. Beitscher bought the home in October from Lawrence Schmitz for $648,000. Schmitz bought the home in January 2005 from Tanglewood Homes Inc. for $645,000. Tanglewood bought the lot and three others from The Arnold D. Lehman Revocable Trust for $284,000.

 

45. Thomas & Linda Vytlacil

4004 Agincourt

The 4,952-SF home was built in 2006, and appraised in 2011 for $675,000. Vytlacil bought the home in December 2008 from First Federal Bank for $550,000. The bank acquired the home and Lot 55 in July 2008 from Gene Knight Homes Inc. Knight acquired the lot in November 2004 from SCB Investments LLC for $95,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

46. Williams Family Trust

4000 Agincourt

The 4,710-SF home was built in 2011, and appraised in 2012 for $576,100. Williams bought the lot in June 2010 from The Armon Douglas Perrin Jr. Living Trust for $55,000. Perrin bought the land in September 2007 from J.R. and Patty Lee for $65,000. Lee bought the land in July 2006 from Robert and Melissa Reed for $85,000. Reed bought the lot in April 2005 from SCB Investments LLC for $98,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

1. 47. Jack & Rebecca Taylor           

The lot appraised in 2011 for $57,500.

Taylor bought the lot in May 2009 from Tanglewood Homes Inc. for $60,000. Tanglewood bought the lot and three others in March 2004 from The Arnold P. Lehman Revocable Trust for $284,000.

 

48. Sonya Jo & Dirk Hostetler

4001 Englefield Drive

The 4,296-SF home was built in 2006, and appraised in 2011 for $574,900. Hostetler bought the home in April 2011 from Janak Patel for $722,000. Patel bought the home in December 2007 from Douglas and Cynthia Howe for $750,000. Howe bought the land in September 2005 from SCB Investments LLC for $95,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

49. Manual & Kathleen Orejuela

4001 Agincourt

The 4,982-SF home was built in 2008, and appraised in 2012 for $640,100. Orejuela bought the home in January 2011 from Malcolm and Lisa Gillihan for $580,000. Gillihan bought the home in June 2009 from Five Star Development Corp. for $618,000. Five Star acquired the property in October 2008 from ANB Financial N.A. ANB acquired the lot and Lot 50 from Leroy and Gloria Jean Meyer in December 2007. Meyer bought the lot in February 2006 from SCB Investments LLC for $100,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

50. Stephen & Joanne Blakeley

4005 Agincourt

The 4,471-SF home was built in 2006, and appraised in 2011 for $595,500. Blakeley bought the home in July 2010 from Ronald White for $585,000. White bought the home in January 2008 from ANB Financial N.A. for $528,000. ANB acquired the lot and Lot 49 from Leroy and Gloria Jean Meyer in December 2007. Meyer bought the lot in May 2004 from The Arnold D. Lehman Revocable Trust for $75,000.

 

51. Chris & Jennifer Fowler

4032 Ratcliffe Drive

The 4,232-SF home was built in 2006, and appraised in 2012 for $633,350. Fowler bought the home in November 2007 from JP Morgan Chase Bank N.A. for $480,000. JP Morgan acquired the home from Shane and Amy Anders in June 2007. Anders bought the home in January 2006 from Kurt Lind and Holly Lind for $655,000. Lind bought the lot in April 2004 from The Arnold D. Lehman Revocable Trust in August 2004 for $73,000.

 

52. George & Mary Alderman

4020 Ratcliffe Drive

The 4,291-SF home was built in 2006, and appraised in 2011 for $647,450. Alderman bought the lot in May 2005 from SCB Investments LLC for $100,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

53. Aaron & Amanda Denson

4008 Ratcliffe Drive

The lot appraised in 2011 for $57,500. Denson bought the lot in August from Payne Construction Inc. for $73,000. Payne Construction bought the lot in June from Sridhar and Meera Narayan for $72,000. Narayan bought the lot from First State Bank of Lonoke in February 2010 for $55,000. The bank acquired the lot from DFOM LLC in December 2008. DFOM acquired the lot from SCB Investments LLC in February 2008. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

54. Brian & Teresa Odell

4000 Ratcliffe

The 3,351-SF home was built in 2008, and appraised in 2011 for $439,750. Odell bought the lot in January 2008 from SCB Investments LLC for $60,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

55. Tim & Cheryl Wilhoit

4009 Caerleon Circle

The 3,548-SF home was built in 2011, and appraised in 2012 for $450,900. Wilhoit bought the home in April 2011 from Burckart Construction Inc. for $420,000. Burckart bought the lot in August 2010 from Wilhoit for $60,000. Wilhoit bought the lot in June 2010 from First Federal Bank of Lonoke for $58,000. The bank acquired the lot and Lot 45 in July 2008 from Gene Knight Homes Inc. Knight acquired the lot in November 2004 from SCB Investments LLC for $95,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

56. Robert & Michelle Thompson

4013 Caerleon Circle

The 5,137-SF home was built in 2010, and appraised in 2012 for $663,050. Thompson bought the home in February 2012 from Unique Concepts Inc. for $629,000. Unique Concepts bought the land from SCB Investments LLC in June 2005 for $100,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

57. Jason & Jennifer Shaw

The lot appraised in 2011 for $74,750.

Shaw bought the land in February 2005 from SCB Investments LLC for $99,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

58. Juan Carlos Sanz & Tamela Thomas

The lot appraised in 2011 for $57,500.

Sanz and Thomas bought the lot in April 2004 from The Arnold D. Lehman Revocable Trust for $71,000.

 

1. 59. Dale & Laura Marks           

4025 Caerleon Circle

The 3,510-SF home was built in 2009, and appraised in 2011 for $465,550. Marks bought the home in July 2009 from Payne Construction Inc. for $434,000. Payne bought the lot in January 2009 from Parkway Bank for $54,000. The bank acquired the lot and Lot 63 from McTab Construction Inc. in October 2008. McTab bought the lot in February 2005 from SCB Investments LLC for $98,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

60. Tonsing Revocable Living Trust

4029 Caerleon Circle

The 4,787-SF home was built in 2010, and appraised in 2011 for $562,850. Tonsing bought the home in January 2011 from Tall Oaks Construction Inc. for $596,000. Tall Oaks bought the lot in June 2010 from John and Ashley McConnell for $56,000. McConnell bought the lot in May 2007 from SCB Investments LLC for $56,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

61. Meczkowski Family Trust

4033 Caerleon Circle

The 4,486-SF home was built in 2005, and appraised in 2011 for $547,800. Meczkowski bought the home in November 2009 from Robert and Elizabeth Workman for $655,000. Workman bought the home in May 2005 from The Arnold D. Lehman Revocable Trust for $608,000.

 

62. Payne Construction Inc.

The lot appraised in 2011 for $57,500.

Payne bought the lot in August from Michael and Stephanie Daniels for $77,000. Daniels bought the lot in March 2005 from SCB Investments LLC for $98,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

63. Michael & Danna Caudill

4041 Caerleon Circle

The 3,483-SF home was built in 2009, and appraised in 2011 for $465,950. Caudill bought the home in June 2009 from Payne Construction Inc. for $504,000. Payne bought the lot in December 2008 from Parkway Bank for $54,000. Parkway acquired the lot from McTab Construction Co. in October 2008. McTab bought the lot in February 2005 from SCB Investments LLC for $98,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

64. Edward Jones II & Mark Brodeur

4045 Caerleon Circle

The 4,367-SF home was built in 2011, and appraised in 2012 for $588,050. Jones and Brodeur bought the home in April 2011 from Payne Construction Inc. for $600,000. Payne bought the lot in June 2010 from S.F. Investments Properties Co. LLC for $57,000. S.F. Investments bought the lot in August 2004 from The Arnold D. Lehman Revocable Trust for $77,000.

 

65. Lawrence & Erica Schmitz

The lot appraised in 2011 for $69,000.

Schmitz bought the lot in January 2012 from Veerendra Basappa and Shilpa Sadashiviah for $65,000. Basappa and Sadashiviah bought the land in December 2010 from First State Bank of Lonoke for $50,000. The bank acquired the lot from DFOM LLC in December 2008. DFOM acquired the lot from SCB Investments LLC in February 2008. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

66. Mark & Rachel Malo

4061 Caerleon Circle

The 5,159-SF home was built in 2006, and appraised in 2012 for $741,350. Malo bought the home in September from Michael and Julie Roehm for $689,000. Roehm bought the home in June 2006 from Spackler LLC for $830,000. Spackler bought the lot and Lot 69 in March 2005 from SCB Investments LLC for $200,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

67. Tanglewood Homes Inc.

The lot appraised in 2011 for $57,500.

Tanglewood bought the lot and three others in March 2004 from The Arnold D. Lehman Revocable Trust for $284,000.

 

1. 68. Thomas & Vondra Martin           

4069 Caerleon Circle

The 4,963-SF home was built in 2011, and appraised in 2012 for $722,500. Martin bought the lot in April 2009 from First State Bank of Lonoke for $54,000. The bank acquired the lot from DFOM LLC in December 2008. DFOM acquired the lot from SCB Investments LLC in February 2008. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

69. David & Laura Guenthner

4073 Caerleon Circle

The 4,183-SF home was built in 2006, and appraised in 2012 for $551,250. Guenthner bought the home in March 2007 from Spackler LLC for $541,000. Spackler bought the lot and Lot 66 in March 2005 from SCB Investments LLC for $200,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

70. Anne Thomas

4093 Caerleon Circle

The 4,262-SF home was built in 2008, and appraised in 2012 for $562,000. Thomas bought the home in February 2012 from Jerry and Whitney Duncan for $640,000. Duncan bought the lot in December 2006 from SCB Investments LLC for $65,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

71. Donald & Anne Fitzpatrick

4097 Caerleon Circle

The 3,746-SF home was built in 2004, and appraised in 2011 for $483,850. Fitzpatrick bought the home in February 2006 from Allen and Selena Snyder for $532,000. Snyder bought the home in July 2004 from Homes by Ward Inc. for $544,000. Homes by Ward bought the land in July 2003 from The Arnold D. Lehman Revocable Trust for $71,000.

 

72. Matthew & Jane Ewing

4101 Caerleon Circle

The 4,173-SF home was built in 2005, and appraised in 2011 for $596,600. Ewing bought the home in October from Jamie and De Ann Elliott for $635,000. Elliott bought the home in June 2008 from ANB Financial N.A. for $528,000. ANB acquired the lot and four others in December 2007. Spainhower Enterprises Inc. bought the lot in December 2004 from Tanglewood Homes Inc. for $100,000. Tanglewood bought the lot and four others in July 2003 from The Arnold D. Lehman Revocable Trust for $358,000.

 

73. Steven & Mary Smits

4105 Caerleon Circle

The 3,925-SF home was built in 2006, and appraised in 2011 for $625,550. Smits bought the home in January 2010 from Arvest Bank for $473,000. The bank acquired the home from McMurtrey Homes LLC in October 2009. McMurtrey bought the lot in June 2005 from Tanglewood Homes Inc. for $109,000. Tanglewood bought the lot and four others from The Arnold D. Lehman Revocable Trust for $358,000.

 

74. Tidwell Revocable Trust

4109 Caerleon Circle

The 4,097-SF home was built in 2004, and appraised in 2011 for $536,150. Tidwell bought the home in March 2009 from Sheldon and Waianne Weinstein for $710,000. Weinstein bought the home in August 2004 from Tanglewood Homes Inc. for $688,333. Tanglewood bought the lot and four others from The Arnold D. Lehman Revocable Trust for $358,000.

 

75. Shaun & Miriam Turner

4113 Caerleon Circle

The 5,808-SF home was built in 2004, and appraised in 2011 for $693,100. Turner bought the lot in May 2003 from The Arnold D. Lehman Revocable Trust for $75,000.

 

76. Michelle & Mark Lotti

4117 Caerleon Circle

The 4,402-SF home was built in 2004, and appraised in 2012 for $634,450. Lotti bought the home in October from Matthew Forsythe and Ellen Siebenborn-Forsythe for $537,000. Forsythe bought the home in March 2009 from David and Frangie Minsky for $600,000. Minsky bought the home in February 2008 from Mauricio and Sandra Montilha for $570,000. Montilha bought the home from Unique Concepts Inc. in January 2006 for $685,000. Unique Concepts bought the lot in November 2003 from The Arnold D. Lehman Revocable Trust for $73,000.

 

77. Callaway Revocable Trust

4121 Caerleon Circle

The 3,640-SF home was built in 2006, and appraised in 2011 for $574,750. Callaway bought the home in November 2007 from Jerry and Angela Hawkins for $580,000. Hawkins bought the home in October 2007 from S&V Miller Inc. for $775,000. S&V bought the land in August 2004 from The Arnold D. Lehman Revocable Trust for $81,000.

 

78. Bugos Revocable Trust

The lot appraised in 2011 for $69,000. Bugos bought the lot in June 2010 from David and Lisa Roetto for $57,000. Roetto bought the land in June 2007 from SCB Investments LLC for $68,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

79. John & Brandy Furner

4129 Caerleon Circle

The 4,678-SF home was built in 2005, and appraised in 2012 for $709,000. Furner bought the lot in April 2004 from The Arnold D. Lehman Revocable Trust for $79,000.

 

80. Jenea Law

4133 Caerleon Circle

The 3,984-SF home was built in 2007, and appraised in 2011 for $563,050. Law bought the home in April 2010 from Simmons First Bank of Northwest Arkansas for $475,000. Simmons acquired the home from Brian and Heather Litchford in November 2009. Litchford bought the lot in April 2006 from SCB Investments LLC for $95,000. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.

 

81. David & Donna Kash

The lot appraised in 2011 for $57,500.

Kash bought the 4,335-SF home in July from Payne Construction Inc. for $658,000. Payne bought the lot in May 2011 from Bobby and Denise Wright for $60,000. Wright bought the lot in November 2009 from First State Bank of Lonoke for $55,000. The bank acquired the lot from DFOM LLC in December 2008. DFOM acquired the lot from SCB Investments LLC in February 2008. SCB bought the lot and 38 others from The Arnold D. Lehman Revocable Trust in August 2004 for $2.98 million.