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. Ariana

    lucky him...i just got laid off.

    February 17, 2009 12:44 pm at 12:44 pm |
  2. Anonymous

    perhaps he knows something the rest of us dont! have to wait to find out

    February 17, 2009 12:44 pm at 12:44 pm |
  3. BryanSTL

    To Noah: Conservative red necks that make 30000-40000 a year vote for the interests of wealthy people. 1% of America holds 80% of the country's wealth. Be smart. Vote your interests. Your immediate interests. Don't vote for the idealogical defense of capitalism and free trade, which you don't benefit from. Vote your interests and vote for a government that works for YOU!

    February 17, 2009 12:44 pm at 12:44 pm |
  4. J

    They took my house--– No one wrote a story about me??

    February 17, 2009 12:45 pm at 12:45 pm |
  5. JenNYC

    What a waste. What human family needs 9500 sqft of space + 3 more homes. So wasteful...

    February 17, 2009 12:45 pm at 12:45 pm |
  6. Wyatt

    What's the problem? At least he made his money by legal means and paid taxes on it which is something Obama and staff can't say.

    February 17, 2009 12:45 pm at 12:45 pm |
  7. Maurice from Ontario

    Poor Mitt! I'll bet he's really sad about having to let go of that "cabin" in Utah! Oh well! He's got to raise enough money for his 2012 run, doesn't he? And as Ellis mentioned earlier, he might be making efforts to really know just how many homes he does have! Maybe he should let that homeless lady in Fort Myers know about the "cabin" and also the "modest home" in Belmont. Perhaps he would be ready to rent them to her!

    February 17, 2009 12:46 pm at 12:46 pm |
  8. J

    I dare you print this---- No one gives a s@#t what Romney does.

    February 17, 2009 12:46 pm at 12:46 pm |
  9. texas teacher

    As a practicing Mormon, he will/should be donating a sizable chunk of the income receives by tithing. I believe the usual amount is 10%. How many people complaining about the amount he will make off the sales of these 2 homes do the same?

    February 17, 2009 12:47 pm at 12:47 pm |
  10. Maurice from Ontario

    Poor Mitt! I'll bet he's really sad about having to let go of that "cabin" in Utah! Oh well! He's got to raise enough money for his 2012 run, doesn't he? And as Ellis mentioned earlier, he might be making efforts to really know just how many homes he does have! Maybe he should let that homeless lady in Fort Myers know about the "cabin" and also the "modest home" in Belmont. Perhaps he would be ready to rent them to her!

    February 17, 2009 12:47 pm at 12:47 pm |
  11. bill

    Yep. Similar to John "I get 400.00 manicures just like the average american" Kerry. I wonder if Milt married into his fortune?

    February 17, 2009 12:47 pm at 12:47 pm |
  12. Ruth

    Maybe we should take up a collection for him. Poor thing.

    February 17, 2009 12:47 pm at 12:47 pm |
  13. Nick

    Having so many expensive "homes and Cabins"isn't reflective of the American dream It is reflective of greedy and gaudy people.. So he is selling his two places because his children are grown and gone, but he is replacing the homes with two more, one of which is more costly then the two his is selling....... Talk about relating to the common people, or reducing your "carbon footprint" A man for the people,lol....

    February 17, 2009 12:47 pm at 12:47 pm |
  14. texas teacher

    and by the way - I'm an Obama supporter, so please do not start in on me about that!

    February 17, 2009 12:47 pm at 12:47 pm |
  15. dejah

    What's so "dreamy" about a supremely sexist and dishonest plutocrat unloading a few of his mansions. Romney oversaw many "regular" Americans losing their jobs while he stashed cash away and bought these "cabins" and mansions. He's an oil slick from way back.

    I'm trying to sell a house, too. Will CNN help me with some free advertising, too?

    February 17, 2009 12:48 pm at 12:48 pm |
  16. Debi

    I say, good luck unloading TWO houses in this market. Most people can not unload 1.

    Ellis – I agree. Politicians do nothing without a political objective.

    By the way, if you have questions about the mortgage crisis watch the documentary "House of Cards". I believe it was on CNBC or History Channel.

    It is a detailed explaination of the mortgage crisis without finger pointing at one party over the other.

    February 17, 2009 12:48 pm at 12:48 pm |
  17. Amber

    no corporate politics –

    You know, it would be great if Ralph Nader could be president.
    But that will happen just as soon as Southerners start wearing hemp beaded necklaces and turn vegan; i.e., dream on. We've got two parties right now, they're not perfect but it's what we've got to deal with.

    February 17, 2009 12:48 pm at 12:48 pm |
  18. Jim

    It is easier for a camel to go thru the eye of a needle than a rich man to get into heaven. I am glad I have humble surroundings.

    February 17, 2009 12:48 pm at 12:48 pm |
  19. Jim in Bisbee

    I would bet he's just trying to not look to ostentatious before his presidential run in 2012. I'm sure he took note of how much heat John McCain got for all of his cars and houses. Romney is no fool, and knows it will become an issue unless he does something about it.

    February 17, 2009 12:48 pm at 12:48 pm |
  20. Rick

    We would be in much better hands if Romney was sitting in The White House instead of the doofus Obama.

    February 17, 2009 12:51 pm at 12:51 pm |
  21. James

    Who cares! Who feels sorry for this guy! Hes out of touch with REALITY. He thinks the problems of the country are LABOR....Labor made you millions, besides your homes!

    This cult member, thinks he will be the next President! Please, this is a man that thinks his special hand shake in the temple will give him the power to be "God his own worlds" but if he gives away the secrets of the Temple he will have his neck slitt and his guts cut out!

    Hello, Cult memeber!

    February 17, 2009 12:51 pm at 12:51 pm |
  22. D-Coder

    "no corporate politics" says, "Question Authority."

    Who are *you* to tell me to question authority???

    February 17, 2009 12:51 pm at 12:51 pm |
  23. Beverly, NYC

    Noah February 17th, 2009 12:21 pm ET: Noah you are as wrong as two left shoes!

    This country is not England, liberals do not hate the rich and landed Gentry. This is still the land of opportunity so many of us came here for. What we don't like about the rich is their entitled "taxes are for the little people" snobbery. The nation can go to hell in a handbasket as long as their lives are not disrupted and they get everything they want. Don't tell me how hard you have it from your private jet bought with money inherited from your grandpa, all the while keeping your thumb on my head.

    February 17, 2009 12:52 pm at 12:52 pm |
  24. Paul Ballard

    What a palatial home! I am interested!

    February 17, 2009 12:52 pm at 12:52 pm |
  25. Independent

    9500 ft is not a cabin.....Please!!!!

    February 17, 2009 12:52 pm at 12:52 pm |
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