February 17th, 2009
04:33 PM ET
14 years ago

Romney unloading two of his mansions

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2009/images/02/17/art.romney.cnn.jpg caption=" 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. tice

    Didn't anyone ever teach the Romney family to turn a light off when you leave a room? I thought the house was on fire at first glance.

    February 17, 2009 01:32 pm at 1:32 pm |
  2. Go and Hate no more!!!

    @Noah February 17th, 2009 12:21 pm ET
    So a man think it so is he .......You are so full of hate to the point that you smell like sewage.......now shut the H_ll up !!!

    February 17, 2009 01:33 pm at 1:33 pm |
  3. Amazed

    Poor guy, look at what he's been driven to do. As for Dimwit, I don't think the American Dream includes owning multiple mansions. For most, it means owning their own house instead of renting from a slumlord, having a job and being able to raise kids without needing welfare. If you don't get it, it's not our fault.

    February 17, 2009 01:33 pm at 1:33 pm |
  4. shawn hayes

    Thats why I would never vote for a republican, no where, no how, I along with millions of people can't relate to him or any other republican for that matter. Remember folks only what you do for Christ will last God does not care about how many homes you can buy or sell He owns them, however you will be judged on did you feed the poor and did you give shelter to the homeless etc.....

    February 17, 2009 01:35 pm at 1:35 pm |
  5. What

    Ok, so apparently some of you skipped over the part where it says he's worth $250MM. He could practically give these houses away and not miss the money. I have to agree that THIS IS NOT NEWS, but he man did make his money as a business guru prior to entering politics. Most of the people on here, I'm sure, has the dream of making more money and have taken actions to do so. Why is there such hostility when someone makes the RIGHT decisions in life that leads them to a position of great wealth? It seems like "the rich is evil, until I become one of them."

    February 17, 2009 01:35 pm at 1:35 pm |
  6. churchill

    Earned his money indeed. A very very hard working man indeed. When you scheme and con unsuspecting victims and seperate them from their money, it is rationalized as sound business STRATEGY.... under CAPITALISM. Indeed, ROOMNEY is an Honest man. He earned his wealth.

    February 17, 2009 01:35 pm at 1:35 pm |
  7. Hal

    I wonder if he will put the money into the Mormon Church or if he will use it finance his next political campaign?? He should use it to save the GOP he is one of the last sane Republicans on the planet. The only problem is that he is a Mormon and so much of the GOP base are bigots that they won't vote for him.

    February 17, 2009 01:35 pm at 1:35 pm |
  8. Rob

    I'd just like to take a moment and thank Comrade Chairman Obama and the Democrat Politburo. Usually one has to go to a rap concert or set of an adult film to get screwed this hard. You all have done it with this so-called 'stimulus' bill.

    What part of the millions set aside so that Pelosi can save some flippin' mouse is considered a stimulus? Or how about the billions Reid crammed in for his train from Vegas to LA? No pork? Sure.

    February 17, 2009 01:35 pm at 1:35 pm |
  9. Amazed

    Dan – congratulations! Selling your home in today's market is a huge deal 🙂

    February 17, 2009 01:35 pm at 1:35 pm |
  10. pointofview

    sittin here and watching people whine about others with money. Mitt comes from a family where his father worked in the auto industry in it's glory days and Mitt has applied those tried and true ideals to make his own way. It was not until the some other 2nd, 3rd generation executives who walked into a dynasty only to loot the coffers. GE Is a prime example, once considered the most well run company in the nation/world has since been soaked dry by poor management and even worse leadership. But let's not dwell on the fact that once the current liberal management of GE took over their stock was near 100 bucks. Now trading around 10 bucks. The problem is these dirt bags are still killing the business and hurting the families of the workforce

    February 17, 2009 01:35 pm at 1:35 pm |
  11. Tony

    What a joke!

    February 17, 2009 01:36 pm at 1:36 pm |
  12. Tony

    Boo hoo! The poor Romeny's have to sell a manison to make ends meet.

    February 17, 2009 01:37 pm at 1:37 pm |
  13. Steve

    Is it grammatically (or even conceptually) possible to put the words "9500 square feet" and "cabin" in the same sentence?

    February 17, 2009 01:37 pm at 1:37 pm |
  14. Put an End to the Republican Reign Over the US

    Our government has kept us in a perpetual state of fear–kept us in a continuous stampede of patriotic fervor–with the cry of grave national emergency. Always there has been some terrible evil at home or some monsterous foreign power that was going to gobble us up if we did not blindly rally behind it – General Douglas MacArthur 1957


    February 17, 2009 01:38 pm at 1:38 pm |
  15. Earl of Manchester

    "Now that the children are all grown with families of their own, the Romneys have too much space and are downsizing and simplifying."

    A 9500sqft log cabin was but one of the homes required to raise his clan? Just how many childred did the old Mittster have?

    If this is as close to the truth as Mitt can get he'll never get my vote!

    February 17, 2009 01:38 pm at 1:38 pm |
  16. Jim

    I hear McCain is looking to buy more homes, Romney should sell to him.

    February 17, 2009 01:39 pm at 1:39 pm |
  17. obama supporter

    HMMMMMM very interesting.

    James you comment is so stupid. You haters need to give it a rest, loser.

    Poor, Poor romney

    February 17, 2009 01:39 pm at 1:39 pm |
  18. Dems be dopes

    I wonder how many mansions Nanci Pelosi has?

    February 17, 2009 01:40 pm at 1:40 pm |
  19. Texas

    Dan? Were you a candidate for the presidential nomination? Are you a wealthy Republican? Are you designing Michelle's outfits? Well then, that's why no one cares!

    February 17, 2009 01:41 pm at 1:41 pm |
  20. The lonely Libertarian of Liverpool

    @no corporate politics
    Better reading "Atlas Shugged"

    February 17, 2009 01:42 pm at 1:42 pm |
  21. norton

    He ran out of corporations to raid!

    February 17, 2009 01:42 pm at 1:42 pm |
  22. Matthew, Houston, TX

    Ummm, who cares?

    February 17, 2009 01:44 pm at 1:44 pm |
  23. churchill

    Some see this kind of wealth accumulation as the American Dream. It is a dream alright. A kind delusion. Could Romney accumulate such wealth without his access, contacts, and connections? Do we now see the danger when one is encouraged to accumulate beyond need? 13 houses there and here, 9 bath rooms here and there? Is this the meaning of capitalism? The rich gets richer and the poor, poorer. For the poor, even the little they have will be taken from them and given to those who have. This is the American Dream. This is the American way. You know what? IT IS NOT SUSTAINABLE

    February 17, 2009 01:44 pm at 1:44 pm |
  24. one more pig going down the drain

    and 400 more to go.

    February 17, 2009 01:46 pm at 1:46 pm |
  25. gmj

    On the basis of the "cabin" photo alone, I would argue that this man is not fit to run for public office. How can he be trusted to manage or lead in an age of limited resources? He has shown no self-control whatsoever in his pattern of personal consumption.

    February 17, 2009 01:47 pm at 1:47 pm |
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