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. Jthomas

    It is nice to see the wealthy are not impacted by our national economic crisis......

    February 17, 2009 12:14 pm at 12:14 pm |
  2. James

    Mitt Romney earned his money before he went into politics not like many of the dems that seem to get Rich after politics. My guess is that he didn't get the help of conviticed felon Tony Rezko like Obama did to purchase his HydePark Mansion.

    February 17, 2009 12:15 pm at 12:15 pm |
  3. BK

    "Eric Fehrnstrom, a spokesman for Romney, said the moves are not an indication the nation's flagging economy has affected the Romney family."
    Of course it isn't, the flagging economy doesn't affect the super rich. Only people somewhat rich or lower.

    February 17, 2009 12:15 pm at 12:15 pm |
  4. dan

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

    February 17, 2009 12:15 pm at 12:15 pm |
  5. JT

    DOn't you just feel sorry for the rich. They can unload 2 mansion and still be alright. But us people who trying to maintain one house are struggling. Poor Romney.

    February 17, 2009 12:15 pm at 12:15 pm |
  6. TIME

    Oh God thanks for my pinto beans and rice. Because, I truly understands your word, "Why gain this whole world and lose my soul".

    February 17, 2009 12:15 pm at 12:15 pm |
  7. Hayden Zeke

    He's just trying to get it down so if a reporter asks in the next campaign "How many homes do you have", he'll have a managable answer.

    February 17, 2009 12:16 pm at 12:16 pm |
  8. Hannah Stevens

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

    To demwit, or is it dimwit, this isn't the American dream. When only a few can get rich and the majority are starving on the street the so called American dream is dead, period, end of story.

    February 17, 2009 12:16 pm at 12:16 pm |
  9. JA/TN

    there you go, ok belt tightening, that is the reason we have a nuclear mess, where did he get the type money, how much do any one man really need

    February 17, 2009 12:16 pm at 12:16 pm |
  10. Hillbilly Bob

    I am trying to unload my trailer park home.

    February 17, 2009 12:17 pm at 12:17 pm |
  11. Obama 2.0

    Sell them to the McCains they love lots of houses!

    February 17, 2009 12:17 pm at 12:17 pm |
  12. jd

    "Now that the children are all grown...
    What an excuse – did he have 50 kids?
    But Romney was always BS-friendly.

    February 17, 2009 12:17 pm at 12:17 pm |
  13. STLouisGal

    Or....perhaps he wants to appear not so wealthy for his presidential bid in 2012. He saw what happened when people didn't like the fact that McCain had so many homes.

    February 17, 2009 12:17 pm at 12:17 pm |
  14. JA/TN

    he should donate it to the homeless

    February 17, 2009 12:17 pm at 12:17 pm |
  15. Shawn-Tx

    Wow, so now I can see why the Republicans are against the "wasteful spending" that is in the stimulus package, they don't need it. McCain has 8 homes nad now Romney w/ 4 or 5 homes that or worth more money than most Americans make in their whole life time. They can't honestly tell me that they would be hiring more Americans to work if Obama cut their taxes. They would just be buying more real estate to keep their only families rich.

    February 17, 2009 12:18 pm at 12:18 pm |
  16. Harvey, Tampa, FL

    Yeah, all of a sudden the dream of owning mansions and multiple home is a BAD thing. All of you libs would do it in a heartbeat, but you sure are quick to nail Romney & McCain for their achievements and possessions. And all the while, it's okay for Obama to have his Chicago mansion. KLK, be successful and you can have your mansion too.

    February 17, 2009 12:18 pm at 12:18 pm |
  17. dennisk

    There is no greater indication of the disparity of wealth in this country than the fact that anyone would have the temerity to refer to a 9500 square foot residence as a "cabin."

    February 17, 2009 12:18 pm at 12:18 pm |
  18. RICK FROM PA

    NO WONDER WHY THESE POLITICIAN/PRESIDENTIAL CANDIDATES CANNOT RELATE TO THE AVERAGE AMERICAN!

    February 17, 2009 12:19 pm at 12:19 pm |
  19. Sandi AZ

    To think this Rich Man was running for President...............I am sure he can relate to all the little taxpayers of this country!!

    February 17, 2009 12:19 pm at 12:19 pm |
  20. natasha

    Please he is just trying to look good. He is going to run for President again. He is not broke (did you see the line where they just recently bought a 12 million house is LaJolla, CA

    February 17, 2009 12:19 pm at 12:19 pm |
  21. Bud

    This should fall under entertainment, not news. Maybe the jerk can do an episode of Celebrity Cribs?

    February 17, 2009 12:20 pm at 12:20 pm |
  22. no corporate politics

    Thanks to CNN for providing today's set up for 2 minutes of hate.
    Read 1984 if you haven't already! It is textbook for the RepubliCrat controlled government.

    Question Authority.

    February 17, 2009 12:20 pm at 12:20 pm |
  23. karen-Phoenix

    This man had better NOT even think of running for President!!! He has NO IDEA what it is like to be an average American worker!!!! The man would be worse than Bush or McCain!! Why do the republicans always pick spoiled rich boys!!?

    February 17, 2009 12:20 pm at 12:20 pm |
  24. Not Bitter

    Since when do we scorn success in this country? I applaud the Romney family for its achievements and hope they never strive for mediocrity (the new American Dream, apparently).

    February 17, 2009 12:20 pm at 12:20 pm |
  25. Matt Lyons

    How can you own a 9500sf CABIN?!

    –noun
    1. a small house or cottage, usually of simple design and construction: He was born in a cabin built of rough logs.

    I suppose it IS all subjective, maybe its the smallest and most cramped of his... um... homes?

    February 17, 2009 12:20 pm at 12:20 pm |
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