Sale of Combs Home Signals Revival at Waterford Estates

Deceased developer Gary Combs’ sprawling mansion in the Waterford Estates subdivision in Goshen just east of Fayetteville sold in July for $1.05 million.

Realtor Mary Bassett, the listing agent, said buyers clamored for the home once the list price was reduced from $1.9 to $1.2 million.

The 180-lot subdivision on Arkansas 45 languished during the recession, but the sale of Combs’ property signals a turnaround in Waterford’s fortunes.

Martha Haguewood, a realtor with Lindsey and Associates of Fayetteville, which listed the entire subdivision in 2009, said only 37 of the 180 lots remain.

Buffington Homes and Riggins Construction Co. both bought multiple lots and are building custom and spec homes there, Haguewood said. Lots are listed between $49,900 and $62,500, while houses are listed between $299,000 and $460,000.

In 2012, seven homes sold in Waterford. This year, 11 have already sold.

“We’re having a great year out there,” Haguewood said.

Combs, known for his flamboyance, spared nothing when he built the four-bedroom, six-bath, 8,305-SF estate overlooking the White River.

“It’s a stunning property,” Bassett said. “I would hate to guess how much Gary Combs put in it when he built it, but it was more than $1.05 million.”