As Kalifornians, er Californians, like to joke, Arnold Schwarzenegger is our large-and-in-charge Governator. He and the missus just bought a 25-acre tract in Santa Barbara County. How much for this luxurious acreage? Only $4.7 million. A steal, my sweet ones. A steal.

The LA Times broke the story on Tuesday, revealing that the purchase was made in the Rancho Monte Alegre project. This project takes a ranch with several thousand acres of canyons, waterfalls, and spectacular views and turns it into just 25 private estates. Fortunately, about 2800 acres were set aside for a land trust. At least some of that amazing property will remain undeveloped - and that’s a disappearing beast in good old Kalifornia.

Imagine this, dear ones — an entire project of 25 home sites in parcels from 20 to 720 acres. But talk about CC&Rs. The home sizes are required to be a minimum of 4500 square feet. There’s a maximum, too, but it appears to vary based on the acreage. And the LA Times reports that the 99-page project guidelines determine a house’s style of construction, what landscaping can be used, and many other niggling little details. We think Ah-nold will leave the guideline reading to his lawyers. Or maybe his wife.

So we guess the Governator’s idea of luxury property better line up pretty closely with developers, right? Schwarzenegger and Maria Shriver must be making plans for when they have to vacate the governor’s mansion. Or maybe they’re just expanding their real estate empire. Only time will tell, my pretties.

Photo by schumigirl.