February 17th, 2009
04:33 PM ET
5 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. demwit

    Funny how some see the Amercian dream as a bad thing...

    February 17, 2009 11:54 am at 11:54 am |
  2. KLK

    I wish I had a mansion to unload.

    February 17, 2009 11:55 am at 11:55 am |
  3. Andi

    ....ummmmm.....must hold back comment....head may explode.....

    February 17, 2009 11:55 am at 11:55 am |
  4. Andrew

    Sounds like an average American I can relate to. Romney '12

    February 17, 2009 11:55 am at 11:55 am |
  5. Hand tough Mitt

    If Mitt can only hang on long enough for Obama to come up with his foreclosure aid ......

    February 17, 2009 11:56 am at 11:56 am |
  6. Kevin

    Well now, how the mighty have fallen.

    February 17, 2009 11:57 am at 11:57 am |
  7. Bill S

    How anyone can describe a 9,500 square foot structure as a cabin boggles the mind.

    February 17, 2009 11:59 am at 11:59 am |
  8. Angie

    "...not an indication the nation's flagging economy has affected the Romney family," says the spokesman?? How nice for them.

    February 17, 2009 11:59 am at 11:59 am |
  9. marc

    Many homes, too many cars, over the top excesses, out of touch with the majority! No wonder all republicans want out of a stimulus package are tax cuts. Gross displays of wealth is what is wrong with this world. I have no issues with wealth but with the way the wealth is spent. Wake up people! BTW Romney was a lousy Governor, speaking negatively of the very state he was supposed to be governing while on the road.

    February 17, 2009 11:59 am at 11:59 am |
  10. Hans Brecker, Newport RI

    Now it's Al Gore's turn to unload his not-so-green mansion and downsize. Hypocrite!!!

    February 17, 2009 12:00 pm at 12:00 pm |
  11. Americans against abusive wealth

    Your comment is awaiting moderation.
    we will never be represented by a common man in upper government. Obviously only the welathy can get elected, or those who have already sold their souls to get where they are…

    Wealth requires you do special things for those who can make you wealthier.. and the truth is most of us have too much of a conscience to climb the ladder….

    I depise what has happened to this country, and I really can't be real proud of it.. we need a regular Joe or Jane to finally represent us workers…

    February 17, 2009 12:00 pm at 12:00 pm |
  12. Joe

    I'm sorry for your loss, Mitt. And to think I only had to give up one meal a day to make it!

    February 17, 2009 12:01 pm at 12:01 pm |
  13. John Starnes Tampa Florida

    Since "the fundamentals of the economy are strong" I wonder if McCain will keep all eight estates?

    February 17, 2009 12:01 pm at 12:01 pm |
  14. Shamick Gaworski

    Reply to demwit ...

    This is not an example of American dream – this is an example of conspicuous consumption that will ruin Americans and the rest of population if we allow this WASTEFUL STUPID way of living.

    February 17, 2009 12:02 pm at 12:02 pm |
  15. kevin

    "How dare he make more than his fellow comrades! He should have to live in the street like the rest of America. Obama's new foreclosure plan should not include any wealthy people, they need to be punished for being successful."

    Signed
    Typical Obama supporter (minus spelling mistakes for easy reading)

    February 17, 2009 12:02 pm at 12:02 pm |
  16. Gwen, FL

    It won't work. He's still a plastic, multi-millionaire who can't relate to most Americans. He will never be president, no matter how many homes he sells.

    Take it from me Rom, give it up. We still don't like you.

    February 17, 2009 12:02 pm at 12:02 pm |
  17. Shamick Gaworski

    Reply to demwit ...

    This is not an example of American dream – this is an example of conspicuous consumption that will ruin Americans and the rest of population if we allow this WASTEFUL STUPID way of living.

    February 17, 2009 12:03 pm at 12:03 pm |
  18. pat C.

    SPARE US! is he trying to just fit in with the rest of us poor folks out here just trying to hold on to our small and only home?
    we are no longer dems and repubs, we are haves, and have nots.
    the republican party only seems to understand the "HAVES" and could care less about us unfortunate "HAVE-NOTS".
    HE AN MCCAIN ARE TWO PEAS FROM THE SAME POD.

    February 17, 2009 12:03 pm at 12:03 pm |
  19. a newly blue state-VA

    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
    **************
    now, that says it all!!!!

    February 17, 2009 12:03 pm at 12:03 pm |
  20. KC

    Wow, jealousy is rearing it's ugly little head on this board.

    February 17, 2009 12:03 pm at 12:03 pm |
  21. Big Al

    And this is news? What about the markets reaction to the stimulus Plan? Guess there's no correlation there, huh?

    February 17, 2009 12:03 pm at 12:03 pm |
  22. John

    Must be getting ready for the 2012 election.

    February 17, 2009 12:04 pm at 12:04 pm |
  23. Ken, IN

    At least he knows how many mansions he owns. That's a leg up from John-I-don't-know-how-many-houses-I-have-McCain.

    Obama 2012

    February 17, 2009 12:04 pm at 12:04 pm |
  24. Kevin

    Sounds like a case of "Feed them Cake"

    February 17, 2009 12:04 pm at 12:04 pm |
  25. Beast

    "Funny how some see the Amercian dream as a bad thing…" by demwit

    Seriously....we should punish people for being good capitalists.

    February 17, 2009 12:05 pm at 12:05 pm |
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