While the worst of the economic crisis is over, many individuals still find that their homes are underwater, or have had their houses on the market for years with no buyers bidding. This catastrophe has affected all forms of housing from condos to luxury homes. However, the good news is that the housing market is making a slow, but steady comeback, and it is beginning first with the buying and selling of luxury homes.

In fact one of the most expensive luxury homes located in the heart of the Silicon Valley was just recently sold for one hundred million dollars. Russian billionaire, Yuri Milner, purchased this French-style chateau with no plans to yet settle in, according to the Associated Press. This could possibly mean that this house might instead become a new summer home for him as opposed to a permanent residence, but he was unwilling to provide any further comment according to one of his spokesmen.

The luxury home he purchased took about six years to complete and consists of eighteen acres of land that overlooks the San Francisco Bay area. Within the mansion are gyms, spas, pools, both in and outdoor, screening rooms, wine cellars, ballrooms, and even a motor court to help ensure security and privacy. This one hundred million dollar home is easily affordable for someone like Milner who is the current chairman of Mail.ru and founder of an Internet investment firm known as Digital Sky Technologies. He has major investments in other Internet based groups like Groupon and Facebook, and Facebook’s popular game of Farmville by Zynga to keep the money flowing inward.

According to Betty Graham, who listed the property, the sale of this mansion dwarfed the fifty million paid for the forty-eight hundred acre Belvedere Mansion in Bel Air last year. She went on to state that the smart money was in real estate, and that the number of homes over twenty million dollars sold triple this year than they did back in 2009.

With this increase in sold luxury homes it is easy to see that the housing market is slowly recovering. It might be for the well to do at first, but as the economy gets better with the progress of time more and more houses will continue to be purchased and sold well under the twenty million dollar mark returning the housing market back to its original strength. Home owning might be tough now, but the future for all looks like it might be getting a little bit brighter.

An anonymous landowner’s decision to build an 85,000-square foot family compound has upset more than a hundred Benedict Canyon neighbors, the Los Angeles Times reports.

If approved, the “megamansion” on Tower Lane will feature a 42,681-square-foot house, a double-winged villa of more than 27,000 square feet, a 4,400-square foot guest house, luxury staff quarters and a gatehouse. The entire property with its many structures would take up an area larger than Griffith Observatory, according to the Times.

Megamansions are nothing new in the canyons above Sunset Boulevard. Although the popular 90210 ZIP code is home to many mansions with luxury amenities such as swimming pools and tennis courts, the proposed size of the compound “pushes the bounds of common sense and decency” residents told the Times. The neighborhood, which is currently home to residents Bruce Springsteen, David Beckham, and Jay Leno, includes over 150 neighbors who have banned together through e-mails, house gatherings and phone calls to stop the construction.  The group’s next step is to launch a website and a door-to-door campaign.

Although the owner has not been disclosed, he or she has created a business, Tower Lane Properties Inc., to buy three plots of land for $12 million. The owner has also hired a team of layers, architects, intermediaries and sales brokers to manage the project. According to the Times, city planning papers list Mansour Fustok of London as the president of Tower Lane Properties.

Mansour Fustok of London is King Abdullah’s former brother-in-law and the uncle of one of the king’s sons, according to the Times. However, when he was contacted in his home in London, Fustok told the Times he was prohibited from giving out the name of the owner and said the proposed construction will be a regular “Mediterranean-style house,” and that a “very nice family is going to live there.”

The group of neighborhood protestors says that the city has ignored many omissions in the property owner’s application. They contend that the owner has tried to avoid regulations limiting retaining walls in an area with steep hillsides. In addition, they say that the owner has tried to “piecemeal” the project to void a review under the California Environmental Quality Act. 

Whether or not the mystery owners get to build his megamansion, even wealthy Benedict Canyon residents don’t understand “why anyone needs an 80,000-square-foot compound."

Santa Cruz is one of the most popular tourist destinations in California. However, it’s also a great place to consider raising a family and buy affordable luxury homes. The Santa Cruz real estate market has been one of the most desirable in the state for several years, as people from around the country move to the area each year. Even with the recent economic downturn, housing prices in Santa Cruz have remained firm, a testament to the high demand for homes in the area.

So what is it that makes Santa Cruz County and the surrounding area such a popular place to live? And should you consider moving as well? If you are thinking about relocating to Santa Cruz, now is the perfect time to do it. Real estate prices are starting to rise again, making this the ideal time to find a great deal on amazing Santa Cruz homes for sale. Here are a few reasons that people make the decision to move to Santa Cruz:

Natural Beauty: Santa Cruz is set on the scenic Pacific Ocean. This not only provides one of the most beautiful places to live in all of the country, but it also helps to keep temperatures cool year-round. This lets residents take advantage of a wide range of recreational activities in Santa Cruz. Families can enjoy a day at the beach, a hike in the nearby Santa Cruz Mountains or a fun day at one of the many well-maintained public parks.

Location: Santa Cruz has a small-town feel, yet it is close to major cities such as San Jose and San Francisco. A short drive brings residents access to world-class entertainment, sporting events, dining and nightlife.

Charm: The Santa Cruz Boardwalk is one of California’s most enduring symbols, but it only tells part of the story of Santa Cruz. The city’s downtown features a range of eclectic shops, restaurants and art galleries. In addition, the residents are friendly and outgoing, helping to create a community vibe that few places in California can match.

Recently we stumbled upon the listing for this Frank Lloyd Wright designed house in LA. In case you don’t know Frank Lloyd Wright (1867-1957)  is a famous architect, interior designer and author, who in 1991 was named as “the greatest American architect of all time” by  American Institute of Architects.

The house is made out of  designer concrete blocks and is one of 4 houses designed by the architect in 1920′s. Currently the house belongs to the Ennis House Foundation which is  on-profit organization, responsible in maintaining the property.  The house is listed by the U.S. Department of the Interior in the National Register of Historic Places, it has been declared a Cultural Heritage Monument by the City of Los Angeles, and it has been designated a California State Landmark.

In 2005, the house which is located in the Los Feliz Hills in Hollywood, CA was damaged due to rain and mud slides. It is estimated that the property will need $10  million in restoration, which the Ennis House Foundation cannot afford to pay. That is why they placed the property on sale. The listing price is about $7.5 million. The house was originally listed for $15 million in 2009.  Given the necessary repairs, we’ll let you decide if such property might be worth the price tag. Perhaps it should be looked at as apiece of art, like a Picasso.

“What this house offers, really, it’s a trophy property. Some people have trophy wives – this is a trophy house,” Linda Dishman, executive director of the Los Angeles Conservancy, told National Public Radio.

Looking to buy land or a house in Sacramento? Then you’ve got to do your homework by checking out Sacramento real estate properties available online. What property buyers usually look for are affordable offers and flexible financing plans. And the only way you’re going to do that is by talking to a knowledgeable and helpful real estate agent to help you look and plan your financial obligation. Online real estate buying is now much simpler thanks to online research tools that help you find the kind of property that you’re looking for.

Right now, the Sacramento real estate market is in a ripe stage. There are dozens of properties available that can serve as your potential dream house. To make things easier for you, you should try to look for a property that goes along with the most flexible payment plan to ease up on your finances. There are properties out there that go along with fixed rate FHA mortgage loans, with some spanning up to thirty years. With a plan like that, you can raise your family in comfort without having to worry too much about your monthly amortizations.

First and foremost, however, you’ve got to find a really good agent that’s willing to help you find your dream house. There are a number of Sacramento real estate agents out there who are willing to give out a limb to help families in need of a home. The best part is some agents will offer your research tools at no cost, even if you do not yet wish to avail of their brokering services.

This modern masterpiece in La Jolla, CA must be seen to be believed.  It is a beach front house designed by Wallace E. Cunningham, one of Architectural Digests Top 100 designers.  It is constructed from white concrete  and has floor-to-ceiling glass windows.  This 11,000 SQ FT property features 4 bedrooms and 5 baths and is located on the hills with panoramic view of the ocean in one of the prime areas in San Diego (La Jolla). It is on a 0.77 acre lot size.  It also has 4 levels,  black tiled infinity pool, 8 car garage, a theater and a guest house.  It took 5 years to built this property and it is listed for $25 million.

The property is nicknamed “The Razor” and it is located at:  9826 La Jolla Farms Way La Jolla, CA 92037

Below are some pictures.