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. Art Michaelson

    At least this REPUBLICAN McMILLIONER knows how many HOMES he has

    February 17, 2009 02:10 pm at 2:10 pm |
  2. Randy from MD

    He spent millions on his campaign, probably needs to make up for that. Obama ripped people off to raise his campaign funds.

    February 17, 2009 02:10 pm at 2:10 pm |
  3. Keith

    You know he's a tax cutter with a 9.5 bathroom cabin.

    February 17, 2009 02:10 pm at 2:10 pm |
  4. Paul, Nodak

    Since when did America start hating on people who have accomplished something with their lives? Maybe everyone should make up their mind to depend on the government for everything, oh wait, we're already on our way to that.

    February 17, 2009 02:10 pm at 2:10 pm |
  5. Karen- Change is coming

    I'm not surprise...because for years the Republicans have laid in bed with wall street... We can never let this man become President. Another Republican who probably had his hand the cookie jar. It's ok to establish wealth but a lot of the these people on capitol hill are crooks.

    February 17, 2009 02:11 pm at 2:11 pm |
  6. Joshua College Station Texas

    Why doesn't the Mormon millionaire live his religion, sell all his houses except one (who needs 4-5 houses for themselves?) and help the poor. He might not say it, but he believes he is the political candidate of values, always relevant in morally troubles times. But what he really is is a wealth-obsessed, self-righteous, judgmental blowhard.

    February 17, 2009 02:11 pm at 2:11 pm |
  7. bsmith171

    might have been a good prezz, if media didn't use their religious bias against him.

    media has decided that mormonism is is a CULT.
    media is stupid.

    February 17, 2009 02:11 pm at 2:11 pm |
  8. elizabennet

    I am a liberal democrat and I am wondering why we think Romney being rich is such a bad thing. Sounds like he earned his money and did not bilk anyone or cheat anyone or act like a total hypocrite in the process.

    Why is everyone so quick to be bitter and snarky? What happened to being gracious. He's a rich man selling some of his properties. He's not the president. He's not hurting anyone. Big Deal.

    Why hate on this guy?

    February 17, 2009 02:11 pm at 2:11 pm |
  9. Viv, Utah

    a lot of childish jealosy today.

    February 17, 2009 02:12 pm at 2:12 pm |
  10. sick n tired of CNN moderators

    Mitt Romney is the poster child for greed and excess! 9500sq.ft. does not a cabin make CNN, But nice attempt at downplaying it though! 9500sq.ft. 9.5 bath "CABIN"? Give me a break!!!!!!

    February 17, 2009 02:12 pm at 2:12 pm |
  11. Contrarian

    To Karen in Phoenix, why do you have to label Romney as a "spoiled rich boy" without knowing the facts about how Romney gained his wealth. Yes, he was born into a wealthy family, but he is also a very astute businessman who accumulated his wealth many years prior to running for office. Isn't the "American Dream" what everyone is supposed to strive for?

    February 17, 2009 02:14 pm at 2:14 pm |
  12. deure

    "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.

    what an asinine statement.

    February 17, 2009 02:14 pm at 2:14 pm |
  13. Mika


    February 17, 2009 02:16 pm at 2:16 pm |
  14. kuriya

    He was born with a sliver spoon in his mouth. Remember his father was at GM. With all salary his father brougth home Romney wanted GM to go bankrupt the spoon that fed him when he was a child. He selling his mansion, this economy crisis will not only make the poor suffer which we are use to but the rich coming to our level is a welcome idea. Nothing last for ever. Next is McCain.

    February 17, 2009 02:16 pm at 2:16 pm |
  15. dan

    For all you people whining about Romney's wealth if you were honest with yourself I bet 99% would jump at it in a heartbeat. Your whining just shows your jealousy. He earned his money which is supposed to be the American Dream. Now the culture is if you got alot of money you somehow must be a bad person, pretty sad commentary since this country was founded by and built by these types of people. Now its looking to the government to give me mine not going out and making it happen for yourself. Here's a news flash not everyone makes it to the top in America but everyone has a chance. I would think you liberals particularly would understand that since BO was elected president. He is an example that you can make it in America from humble beginnings but god forbid is the person that makes it to the top turns out to be a republican then they must be the devil and only made it but abuse of the system.

    February 17, 2009 02:16 pm at 2:16 pm |
  16. uncle jimbo - Chicago

    – Poor Mitt Romney –
    How will they ever get by on only two more mansions left ?
    Should'nt we all feel sorry for them ?
    Maybe the GOP supporters will hold an extra fund raiser for him.

    February 17, 2009 02:17 pm at 2:17 pm |
  17. Tony

    And this is the guy who wants government to run our country like a business, rather honor the Constitution and run it as a government to protect the people for the people. I still remember when this guy was asked if his viewpoints were a violation of the Constitution. His answer... I'll need to consult with my lawyers. Nice!

    February 17, 2009 02:17 pm at 2:17 pm |
  18. Bo


    February 17, 2009 02:18 pm at 2:18 pm |
  19. serah

    how do you relate to Romney who has excess houses and some American veterans are homeless and jobless and disease stricken. He cant even donate because donating to charity is SOCIALISM!!!!!!

    February 17, 2009 02:19 pm at 2:19 pm |
  20. Art Michaelson

    The ex-GOV. and ex- Presidental hopeful in spite of all the negative talk is a living example of the Farming and Business success of the average MORMEN believer. You may think their religious ideas strange but give credit where credit is due, They know how hard work can lead tlo LOOOOTS of MONEY.

    February 17, 2009 02:19 pm at 2:19 pm |
  21. Me

    "Who cares to bet that Romney won't donate a single dollar of the proceeds from the sale of either house to any charity."

    Where would you even come up with this? Have you seen his tax returns? Cause I saw Joe Bidens'. In 10 years he's given a grand total of $2,000 to charity while averaging 6 figures a year. Facts are stubborn things.

    "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!!?"

    Obama clears several million a year. Does HE know? If so, then please tell me the cut-off. How many million a year is too many?

    "Well now, how the mighty have fallen."

    By selling two of his four mansions?

    "He's probably one of those people that Republicans keep talking about. You know ….. someone who bought more house than they can afford."

    His mansions were bought and paid in full. He didn't take out a zero down variable interest rate and gamble that they'd never go up.

    A rich man, who morally and ethically made his millions, sold some mansions. Since when, in America, did this become something to dislike him over?

    February 17, 2009 02:19 pm at 2:19 pm |
  22. Diane

    Rich Romney can't relate to poor America! One clue of why the Republican party is out on it's ear.....Romney is one of those clues!

    February 17, 2009 02:20 pm at 2:20 pm |
  23. Farrell, Houston, Tx

    Just one more example of how another rich greedy republican has more than what he needs and will protect his interest and don't care about yours. If you think for one minute people like Romney and McCain for example would want to walk in a poor man shoes, then you are living in another world.

    February 17, 2009 02:20 pm at 2:20 pm |
  24. James L.

    WHAT? And how might I ask is this NEWS? What have the American publican gained from this information...........................................................nothing, like sooooooooooo many things being written today. No one really gives a rats-puttie.

    February 17, 2009 02:22 pm at 2:22 pm |
  25. Matthew in Oregon

    Poor guy. This economy is brutal. I also lost my private ski resort.

    February 17, 2009 02:22 pm at 2:22 pm |
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