Rumor had it that President Barack Obama and his family were about to drop $4.25 million on a contemporary California mansion. Well, according to TMZ, it's not happening (relax</.i>). Earlier this morning, the LA Times and local real estate agents - who "spoke on condition of anonymity" - claimed the first family was in escrow with the 8,200-square-foot home located in exclusive Rancho Mirage, CA. Although The White House said this was completely false, many believed otherwise. For good reason though, the president is often seen mixing business and golf in the surrounding area and he could potentially want a political neighbor like former President Gerald R. Ford. Details of the home include: a gym, four bedrooms, a rock lagoon, two spas, and panoramic views of the surrounding hillsides.
Source: Pete Souza/White House Photo/Getty Images, Sotheby's