February 17th, 2009
04:33 PM ET
6 years ago

Romney unloading two of his mansions

 The Romneys are selling their ski retreat in Utah, as well as their home in Belmont, Massachusetts.
The Romneys are selling their ski retreat in Utah, as well as their home in Belmont, Massachusetts.

(CNN) - He has been estimated to be worth in excess of $250 million, but former Republican presidential candidate Mitt Romney may just be belt-tightening along with the majority of Americans.

Romney, the former business whiz and governor of Massachusetts, is looking to unload two of his four mansions, collectively valued in the currently-sour real estate market at close to $10 million.

The more expensive of the two homes is a 9,500 square foot cabin on 11 acres in Deer Valley, Utah, listed at $5.25 million. The property comes complete with 9.5 bathrooms and is entirely furnished with custom-made furniture. The real-estate Web site Zillow.com describes the 10-year-old ski cabin as the "perfect retreat" with "several gathering areas [that] provide enough space for lots of family and/or guests."

Also on the market is the Romneys' chief residence in the posh suburban Boston neighborhood of Belmont, where most home prices run well into the millions. The Romney house, which comes with a tennis court and 2.5 acres of land, has yet to be listed, though the Boston Globe estimates the price will be set at $3 million - $1 million less than what the home was worth 2 years ago.

Eric Fehrnstrom, a spokesman for Romney, said the moves are not an indication the nation's flagging economy has affected the Romney family.

"Now that the children are all grown with families of their own, the Romneys have too much space and are downsizing and simplifying," Fehrnstrom said.

The former governor is still holding on to a large retreat on Lake Winnipesaukee in New Hampshire and a recently purchased $12 million home in La Jolla, California. Fehrnstrom also told CNN Romney plans to buy a condominium in Boston.

"They want to maintain Massachusetts as their official residence, but it will be an apartment-size dwelling," he said. "Massachusetts is where the Romneys raised a family, where Mitt Romney started his business and where he was governor for four years, so they have an emotional attachment to the state and many friends there."


Filed under: Mitt Romney
soundoff (415 Responses)
  1. Michiganian

    I'm astounded that anyone needs 4 posh residences! What is the matter with people? With homeless folks, charities needing help, myriads of medical problems in this country-why can't these people with way too many millions just help others? When is your income just too high? Why is it that a man who professes being religious has all these millions to burn? At least Rick Warren has the sense to practice what Jesus preached–they give away 90% of their income.

    February 17, 2009 02:45 pm at 2:45 pm |
  2. Jeri

    To Karen in Phoenix, what, you rather have that blubbering Barney Frank, Nance Polesi and Harry Reid and that president who stood up and lied to the people saying there was no PORK in the package. What about nancy pelosi who got 20M for salt rats in California instead of the hard working people who have lost their jobs and can't feed their children. And what about your big $13.00. You can donate it to the unproductive people who steal everyday from every hard working taxpayer in this country. Oh excuse me, are you one of them.

    February 17, 2009 02:46 pm at 2:46 pm |
  3. kevin

    Uncle jimbo, no one from chicago needs to give advice to anyone abotu how to run things. Nothing good comes out of chicago, especially dirty politicians

    February 17, 2009 02:46 pm at 2:46 pm |
  4. Matt, Chico, CA

    Why does this have be related to the "recession"? Maybe he just doesn't spend time there anymore? At any rate, this is not political and has no business on a political ticker

    February 17, 2009 02:46 pm at 2:46 pm |
  5. Tulsa L

    Lets see McCain owns 8 homes (each one over a million dollars some cost several million) Romney owns how many? At least these 3 are worth $20 million and the one in New Hampshire isn't listed here as to how much it cost.........9.5 bathrooms in the cabin.......my my these are just the people who can reallly feel the heartache and hardships that we main street americans are feeling......these are the Republicans that want more taxes cuts so they can keep getting richer and buying these nice homes, while the rest of us are sucked down into the sewer............The GOP has lost touch with AMERICANS and what we need and what we are going through........that is why they have NO business running our government........

    February 17, 2009 02:46 pm at 2:46 pm |
  6. Jeff

    Overindulgence...How so ever did we here in the U.S. get ourselves into the mess we are in? I wonder. I know this does not apply to many hard working honest Americans, however, there are many many it does apply to. If only not for deregulation, tax loopholes, et al business corruption we could separate the criminals from the truly noble.

    February 17, 2009 02:47 pm at 2:47 pm |
  7. Jeff

    Overindulgence...How so ever did we here in the U.S. get ourselves into the mess we are in? I wonder. I know this does not apply to many hard working honest Americans, however, there are many many it does apply to. If only not for deregulation, tax loopholes, et al business corruption we could separate the criminals from the truly noble.

    February 17, 2009 02:48 pm at 2:48 pm |
  8. arithmetic is liberal

    reggie – politics aside, why would you down-ticket ROMNEY to PALIN?!
    Are the low-information Republicans that phobic about Mormons?

    February 17, 2009 02:50 pm at 2:50 pm |
  9. repuke

    Mit Romney comes from money his father was a Governor. His whole family is connected. Now Obama is self made he did not have contacts in high places to give him jobs after his well off Daddy paid for all his expenses while he went through school. Mitt Romney self made man is a joke. I am not saying he is a bad man just not self made people.

    February 17, 2009 02:51 pm at 2:51 pm |
  10. Carlos

    The home in Utah has 9.5 bathrooms. Why would a home need nearly 10 full bathrooms? This makes no sense to me.

    February 17, 2009 02:51 pm at 2:51 pm |
  11. John

    That sucks... you finally get to own some stuff and the Economy backfires... oh well...

    February 17, 2009 02:51 pm at 2:51 pm |
  12. Faith Restored

    So all you Mitt lovers on here...how many homes you got to sell? And spare me the hard work blah blah when you don't seem fit to extend the same "ethics" to others who didn't have a silver spoon in their mouth and worked just as hard as Mitt. He's the last person you should be holding up as an example. Oprah's more of a rags to riches success story than Rommey will ever be.

    February 17, 2009 02:52 pm at 2:52 pm |
  13. marty

    So Mitt should give the money to charity, huh? Check the stats, conservatives outgive liberals in charity, unless you count giving someone else's money to charity(like the liberals do)! How much does Teddy K give, or George Soros, the liberal moneybags? If it is good for Republicans it ought to be good for Democrats, too. Put up or shut up.

    February 17, 2009 02:53 pm at 2:53 pm |
  14. mrlgh

    Ya, you know, when the kids get older and all...I mean what are they gonna do with all that space? use it as storage, maybe convert it to a garage or something. I mean, what a headache...may as well sell it and save the property taxes on it or something. Maybe take a little vacation or perhaps buy and election or something.

    February 17, 2009 02:53 pm at 2:53 pm |
  15. Larry

    Liberals hate people who earn money for themselves and don't look toward the government for handouts. This is the only way the Democrats win...get as many people as possible reliant on the federal government. Democrats promote a nanny-state – forget about self-government.

    Romney should be applauded for succeeding and achieving what most of us are working toward. Instead, Democrats demonize and try to diminish his success because it didn't come from the government.

    February 17, 2009 02:53 pm at 2:53 pm |
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