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Sales history of a single home site at Cannonsgate at Bogue Sound:
Lot 135 was sold six times in little more than a year, and along the way the price nearly doubled from the initial purchase price of $180,000, according to Carteret County tax records. In all six transactions, Total Realty Management of Fairfax, Va., was either the buyer or seller; and on two occasions, TRM officers or their relatives apparently bought the lot from TRM.
Here are the transactions:
Developer R.A. North subdivided the lot, then sold it to TRM on May 5, 2006, for $180,000, according to tax records. On the same day, TRM sold it to Darryl Brogan for $250,000. Brogan is listed in one lawsuit as TRM's president of development. For this transaction, Brogan listed his address as 222 Colleton Square – the street address for the vacant lot.
Twelve weeks later, Brogan sold it back to TRM for $225,000, according to tax records. On the same day, TRM sold the lot to Charles Deuterman. S. Jill Pisner, a lawyer whose firm is suing TRM, said Deuterman is the father of Cari Deuterman, TRM vice president for finance. He paid $310,000. The Deutermans, including Cari Deuterman, live in Woodbridge, Va., but in this transaction, his address was listed as “Lot 135, Cannonsgate.”
On June 18, 2007, TRM bought the lot for the third time. This time, Martha Deuterman – Cari Deuterman's mother, Pisner said – was listed as a co-seller with Charles Deuterman. The price was $289,500.
On the same day, TRM sold the lot to Babette and William Hale of Centreville, Va., for $354,000, according to records filed in federal court in Virginia.
