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. Jessica

    Republicans who? The entire party should have retired with Bush!

    February 17, 2009 12:28 pm at 12:28 pm |
  2. Hayden Zeke

    The "cabin" has 9.5 bathrooms, enough to hold all of Romney's crap.

    February 17, 2009 12:29 pm at 12:29 pm |
  3. NYC REPUB

    Mr. Romney is doing this in prep for 2012, so he can properly answer, how many homes he has. No more Romney, Huckabee,Palin, or Pawlenty...... PLEASE???!!!

    February 17, 2009 12:29 pm at 12:29 pm |
  4. Bob from Kentucky

    Where I live, we don't call 9500 sq ft a "cabin". We call it a neighborhood.

    February 17, 2009 12:29 pm at 12:29 pm |
  5. David

    Who would question that the Romney's have too much space and need to downsize?

    February 17, 2009 12:29 pm at 12:29 pm |
  6. A Dissatisfied Customer, Lake Forest CA

    My guess is that he doesn't want to fall victim to one of the problems that plagued John McCain's campaign. It's easier to remember how many houses you have if you cut back on a few of them.

    February 17, 2009 12:30 pm at 12:30 pm |
  7. Former Republican

    The only thing I have to unload is last night's beans!

    February 17, 2009 12:30 pm at 12:30 pm |
  8. Krista

    And that house in La Jolla is relatively small and cheap! Beautiful out there! Mitt Can I come for a visit?

    February 17, 2009 12:31 pm at 12:31 pm |
  9. Pat

    ..ahhh.- just like the rest of us that simply decided to unload a mansion or two....

    February 17, 2009 12:31 pm at 12:31 pm |
  10. petena

    Poor Mitt. These people have no idea of what it is like to the little guy who has to sell his one and only home. Or to have to lose it.

    February 17, 2009 12:31 pm at 12:31 pm |
  11. Annie

    at least Romney is not confiscating our hard earned dollars like obama

    February 17, 2009 12:31 pm at 12:31 pm |
  12. Marge

    He is perfectly correct to sell homes he doesn't need. WHY IN THE WORLD would a man and his wife need all that space. WHY IN THE WORLD would he have them at all.

    February 17, 2009 12:32 pm at 12:32 pm |
  13. Mike

    does not want to be compared to McCain's seven homes.

    February 17, 2009 12:32 pm at 12:32 pm |
  14. Justina

    Regular people are losing jobs left and right and HE has FOUR mansions????? There is a problem with this analogy.... Yeah, I really feel sorry for HIM... Four mansions!!! Start giving them to the American people, that may help some!!!!

    February 17, 2009 12:33 pm at 12:33 pm |
  15. GW BUSH 2001 1.35 trillion dollars TAX CUT for the RICH

    no tax breaks for the RICH, so MITT shedding their excesses....this are the guys that want to figure out how to fix our economic problems?!

    go figure!!!!!

    February 17, 2009 12:33 pm at 12:33 pm |
  16. Dave

    Noah, you got it all wrong. Liberals hate everybody. Unless you are a terrorist or an illegal.

    February 17, 2009 12:34 pm at 12:34 pm |
  17. Dave C - NJ

    Yes and Obama is an elitist! lol

    February 17, 2009 12:34 pm at 12:34 pm |
  18. You know the Republican party is toxic when ... Palin bails on NRCC & CPAC

    Is this so he can run as the everyday man in the next presidential election, or is he avoiding being tripped up on the question of how many houses he owns – you know, like the angry, old and disconnected John McCain ?

    February 17, 2009 12:34 pm at 12:34 pm |
  19. Hammer

    Romney has to sell his property to pay on the bill for the people that made "bad decisions" and the greedy. The ones that Franks & Co. forced the banks to loan money to and the greedy that saw a chance to make a lot of quick money.

    February 17, 2009 12:35 pm at 12:35 pm |
  20. TT

    .Am not knocking him, because he is successful this is the America way however how can he understand what the average
    American is going through. They can't see beyond their nose.
    And it's not that they don't care is that they just don't understand.
    James you need to get a life. Because you dont know what people are involve with went you buy a house. Also the REP., only care about their own the rich, for those who make the comment about Dem.,
    are you Rich, because if you not get with the program. They just dont
    understand the needs of the American people.

    February 17, 2009 12:35 pm at 12:35 pm |
  21. Brad

    He's selling his Utah "cabin?" Maybe somebody finally pulled him aside and told him the 2002 Olympics really were going just fine before Mitt came in and "saved" them.

    February 17, 2009 12:36 pm at 12:36 pm |
  22. Jeanni

    Noah, you wrote: "Liberals don't hate rich Americans, they hate rich Republicans." I am a moderate independent though that too you'd probably pigeonhole as "liberal." I'd greatly appreciate if you'd stop telling everyone X, Y and Z as if you are God. How about asking us, talking with us and not to or at us, being in this boat together instead of trying to push others off? Love America or leave it, Noah!

    February 17, 2009 12:36 pm at 12:36 pm |
  23. Moonbeam

    My definition of ski cabin just greatly expanded. By about 9000 sq. feet. Poor, poor Romney. I am sure he truly can relate to us!

    February 17, 2009 12:36 pm at 12:36 pm |
  24. Jack Sprat

    Johnny Maverick McCain wants to buy one of them....charge it to the wife and forget about it.

    February 17, 2009 12:36 pm at 12:36 pm |
  25. raagos

    POOR ROMNEY FAMILY HE'S THINKING ABOUT RUNNING 2012 SO PPL LIKE US DONT CALL HIM RICH GUY WHO HAS 8 HOMES LIKE MCBUSH.

    I AM UNEMPLOYED BUY NOT FOOL

    GOP WE SMARTER THEN U THINK

    February 17, 2009 12:36 pm at 12:36 pm |
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