As the prices of homes continue to drop, even the ultra-rich are feeling the pinch. According to Forbes.com, the prices of some of the most expensive home properties in the world are also being reduced. For example a 22,000-square foot Connecticut home that was the second highest priced home for sale in the world last year at $125 million now has a $60 million price tag.

The current top-priced home is Candy Spelling’s mansion in Los Angeles, which is priced at $150 million. The 45,000 square foot house has 100 rooms and is modeled after the palace at Versailles. Candy Spelling, widow of famed television producer Aaron Spelling, plans to keep the house on the market at that price and has no plans to cut the price. It remains to be seen whether she’ll get the price she wants for the property.  Read complete details and see a slideshow of the world’s most expensive houses at Forbes.com.

The home building industry is still experiencing a slow down as a result of the current recessionary climate. According to the U.S. Department of Commerce, construction of new homes in October dropped to its lowest point since April. Contributing to the slowdown in new home construction is an abundance of unsold new homes already on the market and the record-high number of recent home foreclosures. A contributing factor in the lack of new home starts is uncertainty about the extension of tax credits for homebuyers. The low construction level in turn contributes to the high level of unemployment currently being experienced in the construction industry.

In an interview with Fox News, President Barack Obama said the government is considering tax breaks to encourage job growth, but added that continued deficit spending through tax cuts and stimulus funding could in turn diminish people’s confidence in the economy and “lead to a double-dip recession.”

An “arboreal architect” named Dustin Feider is designing upscale tree houses for the rich and famous in Los Angeles. Many of the tree houses are based on the geodesic dome which was first made famous by the futurist Buckminster Fuller. The average cost for one of Feider’s tree houses is $20,000. Because of the structure of the domes, they are relatively light and are hung from the tree’s branches with cables. The tree house materials are also fully sustainable. For more information, see Dustin Feider’s O2 Treehouse website and this YouTube video on the construction of one of these tree houses:

Nothing says Fall like pumpkins.  In addition to cooking with pumpkins, you can use them for unique table centerpieces.  Try these ideas for bringing the natural beauty of pumpkins to your table:

Who says a pumpkin has to be carved to be interesting?  For more ways to decorate with pumpkins, see this article in Sunset Magazine.

If you own a home that has a roof or yard space that gets several hours of sun exposure most days, then it could be time to go solar. By installing solar panels, you can cut back on the amount of power you need to purchase from your power utility company. A solar installation professional will be able to help you evaluate your power needs and decide how many solar panels will be appropriate for your home. You don’t need to depend completely on your solar power system, but can use it to replace some of the power you currently purchase from the energy grid.

Many areas provide tax breaks, rebates and other financial incentives for homeowners who install solar power systems. You can research the incentives online and also find recommendations for qualified solar installation professionals. Your solar power system installer should be able to advise you on local permits and connecting to the utility grid. Solar panels only take a few days to install. Before you know it, you’ll be helping your wallet and doing your part for the environment.

HGTV

If you’re looking for a way to add interest to a room without spending a lot of money, fabric wall art may be just the thing. In this YouTube video, HGTV designer Taniya Nayak shows how to create stretched fabric panels for hardly any money. Use your own creativity to choose fabrics that complement your wall cover and décor.

Thayer Allyson Gowdy

Maybe you never considered making your bedroom more eco-friendly.  There are several benefits to designing your bedroom using green principles.  The environment in your room will be healthier and you just may get a better night’s sleep.

Here are some suggestions for eco-friendly products for the bed from Sunset magazine:

One of the best ways to add some interest to a room is with custom framed art. You can express your taste with your choice in artwork, and it’s also a great way to add color and visual interest to walls. There are many online stores that offer thousands of art reproductions, from classic to abstract. Framed photographs are another choice, and you can also frame your own original art pieces and share them with your family and friends. Your rooms will be more inviting with beautiful framed custom art pieces on the wall.

The Modern style in home decorating dominated in the middle part of the 20th century. Many decorative features of earlier times fell out of favor, including the use of architectural trim like crown molding. Beginning about 30 years ago, the Traditional style in decorating came back into favor, and crown molding once again became popular. Today you can find molding in many styles and sizes. Most homeowners consider the installation of molding to be a good way to add value to their home.

Installation of crown molding is a good do-it-yourself project, providing you understand how to measure and cut the molding. This helpful YouTube video explains How to Cut Crown Molding:

An inground swimming pool is a great feature for any home.  One way to get the most out of your swimming pool and to add value to your home is by adding a pool deck.  A well-designed pool deck complements the home and yard.   Choosing the material is the first step in pool deck design.  There many types of materials available, including:

When deciding on the shape and size of your pool deck, take into account existing landscape in your yard and the path of the sun.   Then think about how you’ll be using the deck.  If you plan on doing a lot of entertaining, make a space for deck furniture and a grill.  Once you’ve made some basic decisions about your deck, it’s time to find a professional pool designer to create a final design.

Keep in mind these important pool safety tips when using your pool.