Want to get your hands on “Grey’s Anatomy’s” Dr. McDreamy? Heartthrob Patrick Dempsey is married in real life, but you can nab his 3,841-square-foot Bel-Air home with matching tree house for just $3,595,000.

The four bedroom, five-and-a-half bathroom New England traditional is outfitted with a living room fireplace, formal dining room, pool, and large lawn. The property is also gated and hedged for privacy, of course—wouldn’t want the neighbors spying on the hottest fictional medical professional since Dr. Doug Ross (though we’ve been secret Dempsey fans since his adorable 1987 turn in teen rom-com “Can’t Buy Me Love”). According to the SoCal MLS, Brett Lawyer of Sotheby’s International Realty, Sunset Boulevard office, is the listing agent.

Patrick Dempsey, 44, has played in more than 100 episodes of Grey’s Anatomy on ABC. He’s been nominated for two Golden Globes for the role, which also earned him the moniker Dr. McDreamy because of his good looks and sex appeal.

Nicolas Cage lost his house to foreclosure due to huge debts he has. He owes $11 Million to Citibank. He has had the house in market for over a year but no one was willing to but it for the $11.5 Million asking price. Last Wednesday the bank held an auction, but no one made the minimum bid of $10.4 Million. Westside Estate Agency who was holding the auction said this clears most lenders with stakes in the property and leaves Citibank as the sole owner.

Located in Los Angeles (the posh Bel Air community), this party palace has had several high-profile owners, including Tom Jones and Dean Martin. It has 35-seat home theater, nine bathrooms, six bedrooms and a huge swimming pool. The actor reportedly has several such mansions in several countries.

Nicolas Cage’s former mansion was built in 1940′s “on a flat acre in a prime Bel Air location,” Shapiro his attorney said. “It’s about 11,817 square feet of two-story English brick Tudor house. It’s very old world craftsmanship, great detail, a lot of charm, but specific in its tastes.”

In case you don’t know who Nicolas Cage is, he is an Oscar winning actor who has played in over 60 movies, including “Raising Arizona,” “Honeymoon in Vegas,” “National Treasure” and “Ghost Rider.”

Like many countries around the world, the real estate market in Spain has been hit hard by the current financial crisis.  It is estimated that there are as many as 1.2 million new homes sitting on the market unsold, many of which have yet to be completed.  In some spots that are more popular for those purchasing vacation homes, including the Costa del Sol region, the market peaked as early as 2004.  Recent months have seen a significant wave of foreclosures, with more expected to follow.

However, the luxury home market in Spain hasn’t seen as dramatic an impact as other segments of the market.  It is estimated that these homes have only dropped 15% to 25% of their value since they hit their peak.  This includes more unusual homes or those that have a unique historical appeal.  It is likely that the prices have held up better because wealthier buyers aren’t as dependant on financing. Many of these sellers are also more likely to be able to hold onto the properties until the market improves.

Over the past few years, home prices have dropped significantly from their peak (as much as 40% in some locations). As the economy continues to get better, opportunistic investors and families seeking a second home have begun taking advantage of these bargain prices and affordable current mortgage rates. According to Craig Summerall of Lexington SC Real Estate and Irmo Rea​l Estate​ “We’ve seen an up-tick in buying in just the last couple of months.” In Greenwich, CT, for example, realty brokers say that the final months of 2009 were close to record-setting in terms of sales volume, as borrowers took advantage of current mortgage rates in Connecticut.

For investors and homeowners alike, it is important to emphasize that the economy is still in a state of recovery and that it is going to take some time for property values to increase. Nevertheless, it is also important to stress that the demand for homes in some of the country’s most prized locations is on the rise and that these low prices and low mortgage rates will not last forever. While the median price for a home in the Hamptons is currently $1.5 million, keep in mind that this represents a drop off of 30% from the peak sales prices of 2007.

“In Boston area we have seen an uptick of Luxury Home sales recently. It appears the price drops are bringing in some new buyers to the market” says a broker from Bushari Group Real Estate who specializes in Boston Luxury real Estate.

Whether you want to realize your dream of being able to say “I’ve got a little place by the beach” as a second home or are looking to make an investment for the long term, now is the perfect time to tap into the slowly rebounding luxury home market and take advantage of low current mortgage rates and record-low prices in some of the most lavish localities in the United States.

In recent years, the real estate markets in Las Vegas and Detroit were as different as night and day.  Las Vegas was the site of a building boom, with luxury housing and commercial property going up at an almost astonishing rate.  By contrast, Detroit was a former center of American industry, now aging into rust.

However, with the recent financial crisis and the collapse of the housing market, Las Vegas and Detroit now have something in common.  They are ranked number one and number two for the most abandoned cities in the United States.  And if you had guessed that Detroit was in the top spot, you’d be wrong.

These rankings, taken from U.S. Census information released in February 2009, showed that Las Vegas had the highest rate of housing and rental vacancies of any city in the country — 4.7% and 16% respectively.  While Detroit has a higher percentage of vacant rentals (almost 20%), the rate of housing vacancies is a little lower at 4%.  Considering the amount of high-end property in Vegas and the dire financial straits that many people are facing, this shouldn’t come as too much of a surprise.  Other exceptionally empty cities include Atlanta, Greensboro, and Dayton in the third, fourth, and fifth spots.

The quarterly numbers for real estate sales in Manhattan were released this week, painting a dark picture of the current market.  While even the most uninterested layman could probably tell you that housing sales have fallen, the latest reports indicate that sales of Manhattan apartments and co-ops have fallen by as much as 58%.  This is a dramatic drop, especially when one takes a look at the deeply troubled auto industry, where sales are off by approximately 45%.

New construction and luxury apartments on Park Avenue, Fifth Avenue and Central Park West in particular have been hit hard by the housing slump.  Compared to a year ago, sales of apartments that are priced over $10 million have plummeted by a whopping 87%.  While there
were eight co-ops that closed for over $20 million in the first quarter of 2008, only one managed to close for that amount in the same quarter of this year.

A representative from Advantage Home Rates says: “Not only have the price dropped and there are very few buyers in the market now, but out of those few buyers, very few actually qualify for mortgage loans, as the requirements for mortgage loans have tightened, often requiring minimum down payments of 30% or more.”