I'm definitely beginning to really like Jonathan Franzen. Freedom is such an addicting novel, and I'm only on page 200.
This isn't a "favorite" author of mine but he's someone who went up a notch in my book. I used to think of Dean Koontz as a second rate version of Stephen King... until I read Odd Thomas. LOVED it, it resonated with me in a way even most of King's books never did.
For me the masters of the art Shakespeare and Poe but for more modern authors Id have to say Anne Rice and JK Rowling.
Bill Wallace and Beverly Cleary used to be my favorite authors. Now I like Victoria Holmes and Michelle Paver.