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. olive

    i love popeye .

    February 17, 2009 01:12 pm at 1:12 pm |
  2. apprec8

    He has to unload those houses before he attempts to run for president. Those extra house would sink him just like McCains did!

    I have a question...why do we keep electing (rich) people who can relate to the needs of the average American? They act like parents who know us better than we know ourselves. If your counselor could't relate to your issues, would you keep seeing him? Just wondering...

    February 17, 2009 01:12 pm at 1:12 pm |
  3. Dan from Kitchener

    I guess the Democrats not lowering the taxes for the rich and elite has taken it's toll on Mittens. Oh well I guess he still go out and gut another company and put thousands more out of work to salve his conscience.

    February 17, 2009 01:12 pm at 1:12 pm |
  4. Tom

    This is definitely political. He saw all of the criticism heaped on McCain for owning all of those homes. Now the economy is even worse. Very poor time to run while owning FOUR mega-million dollar homes. Also easy target for environmentalists to attack, look at all of the energy used by two people.

    Now, somehow, he and his wife will have to struggle through life with only a $12M home in California, a large lakeside NH retreat, and what will undoubtably be a very upscale downtown Boston condo. I sure hope they are up to it.

    February 17, 2009 01:13 pm at 1:13 pm |
  5. Eric

    It was his magic underwear that got him the houses in the first place. Was this one of the republican nutcases who believes in creationism???

    February 17, 2009 01:13 pm at 1:13 pm |
  6. Moe, NY

    @ Ellis: I agree with you Romney probably is selling some of his mansions for political reasons, not that it will help him. Hey, maybe the McCains' are in the market for another mansion, I believe they only have seven at the present time.

    February 17, 2009 01:13 pm at 1:13 pm |
  7. sg

    Noah – I agree. Libs/Dems are total hypocrits. They want everyone else to pay higher taxes except themselves. Why don't you libs answer this question – Why are there so many wealthy libs and dems? I would think that most of them would give all or most their money away if they really believed in what they preach.

    February 17, 2009 01:13 pm at 1:13 pm |
  8. Kevin in Ohio

    More hate from the left wing krazies who demonize success and wealth in America. And for those of you who don't believe that the economy has adversely impacted the "rich".... you are dead wrong. And it will get worse because almost any incentive for investing by the "rich" is about to disappear, thanks to King Obama I.

    February 17, 2009 01:14 pm at 1:14 pm |
  9. Quick

    An obvious political move.

    February 17, 2009 01:15 pm at 1:15 pm |
  10. PJP

    I will be so glad when all you republican haters have to eat your words. They will be sour in your stomach!!!

    February 17, 2009 01:15 pm at 1:15 pm |
  11. Alicia

    For those who ask if this is news.....DARN RIGHT IT IS!!!!!

    The Republicans are claiming to be in touch with everyday Americans. As we can see, he is in touch with Rich Everyday Americans. They offered nothing on the stimulus that they were asked about and lorded over for eight long, long, long years.

    February 17, 2009 01:15 pm at 1:15 pm |
  12. Wolf-Woman Palin Charlotte, NC

    CNN: ""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."

    That is a sick joke, right?

    February 17, 2009 01:15 pm at 1:15 pm |
  13. Bubba

    . . . because he intends to run in 2012, not realizing that half the country is afraid of Mormons and the other half afraid of Mitt, and doesn't want anyone asking him how many castles he owns.

    February 17, 2009 01:16 pm at 1:16 pm |
  14. K

    Dan, I second that....

    why is this news? I sold a house too. Anyone care? Anyone?

    February 17, 2009 01:16 pm at 1:16 pm |
  15. Shanna, AL

    Boy, times are really hard when you have to unload your mansions–the poor thing. Let's send him an Obamabear.

    Obama 2012!

    February 17, 2009 01:17 pm at 1:17 pm |
  16. RJ

    You guys crack me up.
    There are more rich Democrats than rich Republicans.
    And why is it news that Mitt decides to sell off a couple of houses?
    Who cares.

    February 17, 2009 01:18 pm at 1:18 pm |
  17. Pamela, OR

    Make the lambs stop crying!!!!! The NIGHTMARISH GOPeeERs won't go away.

    February 17, 2009 01:18 pm at 1:18 pm |
  18. Greg, San Francisco, CA

    Love the right wing spin on the blog. You're all kidding right?

    February 17, 2009 01:18 pm at 1:18 pm |
  19. frodo

    so...the lead Republican is cutting back and the lead Democrat, Obama, is flying around on his private jet with entourage every other day creating a huge carbon footprint rather than using the technology that he so adamantly supported during his campaign.

    is the message that WE the taxpayers and corporate execs must cut back, but government gets to run amok?!!?!?!?!?

    February 17, 2009 01:18 pm at 1:18 pm |
  20. walleye

    I dont care how much $$ you have, why would anyone need four mansions. This just tells me how much the rich like to expend the worlds resources. Warren Buffet has lived in his home for most of his life and I am sure he is quite comfortable.

    February 17, 2009 01:18 pm at 1:18 pm |
  21. MLH

    Wonder if he thinks it will sound better during election time if he doesn't hold title to a bunch of mansions. Otherwise, it really isn't a seller's market at the moment, now is it?

    February 17, 2009 01:18 pm at 1:18 pm |
  22. steverino

    Clearly Romney is setting himself up for a 2nd presidential campaign for the 2010 election. He doesn't want to get trapped with the "how many houses do you own?" question.

    February 17, 2009 01:19 pm at 1:19 pm |
  23. Ula Nejad Sacramento, Ca

    Ha ha..morons. He is a business whiz. Understand what that means. He knows his own worth and should be allowed to enjoy his talent and wealth however he wants to. But these are elites and unfortuantely not genetically shared obviously with some ignorant fools who have no idea how much they're worth. If they did we would not be in this mess. Americans always were proud of the saying " survival of the fittest".Don't necessarily need a degree. Romney is a talented business man and knows when to unload. I hinted that he should have been VP 2008 because of his business acumen and McCains military background. What America needs at this time.

    February 17, 2009 01:19 pm at 1:19 pm |
  24. debbie

    And this is news because.....?

    February 17, 2009 01:20 pm at 1:20 pm |
  25. kevin

    Ha, belt tightening. He's just like us! Oh wait, I only have one tiny, practical house. Clearly I cannot relate to this man and vice versa.

    February 17, 2009 01:20 pm at 1:20 pm |
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