A few days ago I finished The Wood Wife by Terri Windling.

This is the first book I've read by Terri Windling, who spends more time as an editor than a writer. I quite enjoyed it - it is urban fantasy in the Charles De Lint vein, dealing with spirituality and wonder in the modern world, through the lens of fantastic events.

The fantastic events are slow to develop in this book. It starts out with a poet moving to the outskirts of Tuscon, to take over the house of an older poet who had just died mysteriously. The first sections of the book introduce us to the protagonist and follow her as she meets her new neighbours and then gets drawn into the charms of her new surroundings. The later sections start to delve into the mysteries, and the fantastic elements tied to them.

The slow development pays off, as it strongly ties the reader more into the characters before moving into the action. 

Well worth reading.