Richard and Lois Krieff have listed for sale a three-bedroom, 2.5-bath home at 1197 Colonial Palms Way in Palm Springs for $3.9 million.

The Krieffs bought the property for $239,900 in Sept. 2007. The 1,342-square-foot house in the Palm Springs Central neighborhood was built in 2007. Alon Bachar of Rickenback Associates is the listing agent.

Mr. Krieff is a principal at Guardian American Cos., a full-service real estate developing company in Miami. He has more than 45 years of experience in land development and residential construction.

According to BlockShopper.com, there have been 214 home sales in Palm Springs during the past 12 months, with a median sales price of $70,000.

Address: 1197 Colonial Palms Way
Buyer(s): Richard Krieff and Lois Krieff
Seller(s): Colonial Palms Development Llc
Sale date: Sep. 18, 2007