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Are the Obamas Buying a Home in Rancho Mirage? White House Says No; Real Estate Agents Say Yes

President Obama and his wife, Michelle, could be the owners of a home in Rancho Mirage listed at $4.25 million before the month is out.

A 8,232-square-foot contemporary home on a 3.29-acre hilltop has four bedrooms and 4.5 bathrooms. (Credit: Realtor.com via Los Angeles Times)

A 8,232-square-foot contemporary home on a 3.29-acre hilltop has four bedrooms and 4.5 bathrooms. (Credit: Realtor.com via Los Angeles Times)

The First Family is believed to be in escrow on a contemporary home in a gated community where entertainers Frank Sinatra, Bob Hope and Bing Crosby once maintained estates.

The White House said “rumors regarding a home in Rancho Mirage are not true.”

But area real estate agents, who spoke on condition of anonymity, said the Obamas are the buyers of the Rancho Mirage home. Listing agents Marc Lange and Carl Blea of HOM Sotheby’s International declined to comment.

Click here to read the full story on LATimes.com.

Built in 1993, the home is in a gated community. (Credit: Realtor.com via Los Angeles Times)

Built in 1993, the home is in a gated community. (Credit: Realtor.com via Los Angeles Times)

U.S. President Barack Obama and first lady Michelle Obama wave from the South Portico to U.S. veterans and their families, as well as White House staff, during an Independence Day barbecue on the South Lawn of the White House on on July 4, 2014, in Washington, D.C. (Photo by Jim Lo Scalzo-Pool/Getty Images)

U.S. President Barack Obama and first lady Michelle Obama wave from the South Portico to U.S. veterans and their families, as well as White House staff, during an Independence Day barbecue on the South Lawn of the White House on on July 4, 2014, in Washington, D.C. (Photo by Jim Lo Scalzo-Pool/Getty Images)