Deeds and WeedsMarch 4, 2009

Cha-Ching In The Desert

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The Arizona Republic has news of some big (and I mean BIG) recent home sales in the desert.

Two of the deals involve Stephen Hearn, president of a Chicago real estate and construction company bearing his family's name. It appears he sold one home on the Desert Mountain Club's Chiricahua course (pictured) for $4 million and then bought a new one on the same course for $8 million.

The article describes four other sales, all at the multimillion-dollar level. They border the Silverleaf Club, the Phoenician Golf Club, Paradise Valley Country Club, and the Camelback Country Club.

-- P.F.