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Photos: The Obamas Might Be Buying This Swank Home Near Palm Springs

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Some loose-lipped realtors told the Los Angeles Times that President Obama and his wife are in the middle of buying a home in Rancho Mirage. The White House has flat-out denied it, saying in a statement that "rumors regarding a home in Rancho Mirage are not true." Agents from HOM Sotheby’s International declined to comment.

But that won't stop us from checking out the opulent real estate in a gated neighborhood known for being the home of Frank Sinatra, Bob Hope and Bing Crosby. Real estate agents say the First Family is in escrow on a hilltop home with a small casita built in 1993. There are some wonderful panorama views, a bighorn sheep reserve nearby, a rock lagoon and a pool with a waterfall.

Obama and the whole family was just in the area last month, hanging with the Annenbergs and Obama played some golf. The Annenberg estate is known as the "Camp David of the West" and Obama has spent time there previously meeting with Chinese President Xi Jinping last June and King Abdullah II of Jordan. During this last trip, Michelle Obama hung behind in Rancho Mirage for a bit after her husband returned to DC on Air Force One.