Upon further inspection, we believe these pesky suckers are hornets. Someone will be by tomorrow to remove them for us. At least the nest is on the back half of the property and not too close to the house.
While taking a walk this evening I discovered a rather large bee hive nestled in one of our pine trees. Thankfully it does not appear to be a wasp nest which was my first thought since we have those all over the yard. Not quite as prevalent this year as in the past but the kids have been stung often because the wasps like to make nests under the swingset slide.