Right now, in 2011, the real estate market has taken the biggest hit in history. After what is now being called the “mortgage bubble” popped, housing prices fell dramatically, leaving many people owing more money on their houses or condos than they are worth. It has caused foreclosures for even relatively wealthy citizens and forced many more of the middle class out of their homes.
While housing prices take a dive for most citizens regardless of wealth, the home of the late television producer, creator of 90210 and Melrose Place, was sold for a hair-raising $85 million. While the house, which features over 100 rooms, was estimated to be worth almost double that price (or $150 million), the more astounding thing is the purchaser of this mansion of all mansions: the 22 year old heiress to the Formula One racing fortune, Petra Ecclestone.

While percentage-wise, the house took a pretty big hit, it’s still a high enough rice to make many of us sick to our stomachs. Not only the fact that someone is buying house that’s worth more than 200 houses in many areas, but the fact that she’s a 22 year old heiress makes it even harder to digest. The Spelling Manor was listed as the most expensive house on the market before its sale earlier this year. There are still houses out there waiting to be bought for exorbitant prices.

The second highest-listed house in the United States has a beautiful name, but isn’t in Los Angeles or New York where you’d expect. No, this next house is actually in a place called Zephyr Cove, Nevada. The house, known as Tranquility, is most definitely the most expensive house in its home state. However, in the current market, it’s hard to say whether or not this home is worth anything near its listing price.

The Frank Woolworth Estate is the third most expensive house listed for sale in the United States. This house was actually one of three townhouses which were commissioned by a retail mogul, Frank W. Woolworth, each for one of his daughters back towards the turn of the century.  The biggest one,  designed by the late and famous Charles Pierpont Henry Gilbert, has now been put on the market for $90 million. It was put on sale this March.

If you’re in the market, the house is 18,000-sq ft, has 10 bedrooms, 11.5 bathrooms, three kitchens (seriously?), an elevator, and a private gym, and in this market, I’m sure you could get a bargain and get the price down 20 or 30 million. I’m sure you’ve got an extra 60 or 70 million lying around.

If you’re looking for a cheaper deal, the next two on the list are the Madison Ave. Townhouse in Manhattan for $72 million and the Wehba Mansion in Beverly Hills for a measly $68.5 million. Chump change right?