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Possible Obama home on hilltop in Rancho Mirage, CA / [email protected]

*If a Los Angeles Times report is to be believed, President Barack Obama and his wife, First Lady Michelle Obama, are looking to buy a home in in the Southern California desert community of Rancho Mirage near Palm Springs.

According to the publication, the first family, who also own a home in Chicago, is believed to be in escrow on a contemporary home in a gated community where entertainers Frank Sinatra, Bob Hope and Bing Crosby once lived.

Constructed in 1993, the 8,232-square-foot custom-built home features a gym, four bedrooms and 4.5 bathrooms as well as a pool with a 20-foot waterfall, a rock lagoon, two spas, a misting system and a putting green with a sand trap. Also included is a 2,000-square-foot casita with three bedrooms and three bathrooms.

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Photo: Clark Dugger Photography

Commenting on whether the Obamas are pursuing a new home out West, the White House said, “”rumors regarding a home in Rancho Mirage are not true.”

Despite the denial area real estate agents, who spoke on condition of anonymity, tell the Times that 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 on the situation.

Talk about the Obamas and the Rancho Mirage residence started when the family spent a long Father’s Day weekend there. The Desert Sun noted that President Obama was also in Rancho Mirage, where he played golf at Oracle co-founder Larry Ellison’s private course at the Porcupine Creek estate and at Sunnylands.

If the talk proves true, the Obamas would join former President Gerald Ford, who moved to the area after completing his time in office.

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Photo: Clark Dugger Photography

Public records reveal the property was last sold 10 years ago for $397,500. Eight years ago, the property was listed for as much as $12.5 million. However, according to the  LA Times report, the house is listed at US$4.25-million — with “Pending” in red letters beside the price.

You can see MORE Clark Dugger photos ([email protected] ) of the possible new Coachella Valley home of the Obamas at the National Post.