Charles Stross' "Laundry" series. Magical realism, with a foreboding sense of Lovecraftian doom tempered with a satire of government bureaucracy.
In The Atrocity Archives, IT specialist Bob Howard runs up against neo-Nazis trying to summon a "frost giant" to bring about the next Reich. The Jennifer Morgue deconstructs the "James Bond" archetype. In The Fuller Memorandum, we find out the background of "Angleton", Howard's mysterious boss and mentor. In The Apocalypse Codex, Howard deals with a religious cult actively trying to bring about Doomsday. The Rhesus Chart and The Annihilation Score introduce vampires and superheroes, respectively - each time perfectly fitting them into the rules of the milieu.
I just finished The Nightmare Stacks..... Would you believe an army of Elven mages invading England?
Alex Schwartz is a new "recruit" to the Laundry. He's one of the vampires that survived the end of The Rhesus Chart, and happens to be the "Agent On The Scene" when the advance scout for the invasion appears. If you ever wondered how a dragon would do against a modern jet fighter....
Stross continues to add more to his version of England, while staying true to local custom and geography (aside from the occasional bit of artistic license). And that's particularly important in the way the novel comes to an end. By around the 2/3 mark, I had a good idea of how the whole thing would be wrapped up. As it turned out, I was pretty close. The biggest difference was that Stross managed to bring it all to a perfectly satisfying conclusion in less than one page.
I practically jumped out of my chair, shouting "YES! YES! THAT IS FREAKIN' AWESOME!!!"
(By all that's holy, if you do get your hands on the book, don't read the last two pages unless you're going to read the rest of it first.)
Of course, there's going to be (at least) one more novel in the series. It's going to be impossible to keep magic a secret, now that a few thousand Elven mages are wandering around near Leeds, and there are about as many human casualties and a couple of destroyed aircraft to deal with....