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. uncle jimbo - Chicago

    Don – I hate to bust your bubble but a little research will tell you Mit is a second generation pol who is partialy responsable for the way health care & hospitals were privitized for profit, thus one of the reasons our health care is so expensive.
    He came from a multi million $$$ family, I guess that made it real tuff for him to start off.

    February 17, 2009 02:22 pm at 2:22 pm |
  2. WI Cheesehead

    Elitism in its true colors for Mitt, he’ll never relate to me in his wildest dreams. I have one home with a mortgage on it and I am trying to figure out how I can get some of the “Obama money” to upgrade my exterior doors to make my home more energy efficient.

    February 17, 2009 02:23 pm at 2:23 pm |
  3. reggie

    Romney worked hard and earned everthing he has. No free handouts form the liberals and their belief in sharing the wealth. Palin/Romney 2012

    February 17, 2009 02:23 pm at 2:23 pm |
  4. APK

    In regards to a previous comment made about Mr. Romney donating his money from his sold mansions to charity. He already does that, and it is called Tithing. I think Mr. Romney did a good thing as he is looking to save money as well. Mr. Romney is a good example of a hard working American. I really hope that he runs in 2012, too bad the car industry didn't take his advice earlier about bankruptcy, it seems that it may still happen AFTER taking the tax payers money.

    February 17, 2009 02:26 pm at 2:26 pm |
  5. Jay

    Why on Earth do you need 9.5 bathrooms?

    February 17, 2009 02:27 pm at 2:27 pm |
  6. Sandy in Racine

    Perhaps Mitt can donate the Utah mansion to plural families in desparate need of new digs..............

    February 17, 2009 02:27 pm at 2:27 pm |
  7. MW in MD

    He is unloading TWO MANSIONS? The average person in this country will never have ONE mansion. Talk about out of touch!

    February 17, 2009 02:28 pm at 2:28 pm |
  8. Pam

    So Mittens is trying to raise money for his next presidential run. No surprise there. He would be better off just flushing that money down the toilet because he doesn't have a chance vs. Obama.
    Give it up Mittens!

    February 17, 2009 02:28 pm at 2:28 pm |
  9. Independent Dave, Cedar Rapids, Iowa

    I'll bet Mother Theresa never had ONE house like this! Will they share the same Heaven? Is the 'American Dream' Gods vision of what man should be?

    February 17, 2009 02:28 pm at 2:28 pm |
  10. Will-South Dakota

    BOO HOO! He's like McCain too many houses.......

    February 17, 2009 02:30 pm at 2:30 pm |
  11. William

    Who cares about Chris Dodd's VIP dealings with and campaign contributions from Countrywide (whom he failed to regulate)? Let's talk about Romney selling a house!

    February 17, 2009 02:30 pm at 2:30 pm |
  12. jaye

    Romney is just another rich republican that is clueless.

    February 17, 2009 02:31 pm at 2:31 pm |
  13. Patricia Tharp

    In answer to Don Woolsey's comment. Self Determination is always easier when helped along by Dad's money. Romney was not a poor kid from the inner city by a long shot.

    February 17, 2009 02:32 pm at 2:32 pm |
  14. Christine

    Since when is 9,500 sq feet considered a cabin! Some people's homes are big enough to be hotels.

    February 17, 2009 02:33 pm at 2:33 pm |
  15. whatsuccess

    This is man who said at the Republican convention:
    "We need to take a WEED-WHACKER to ALL Government regulations on business"

    Yeah, Mitt!! No regulations for rich, white, Republicans like you, who have totally trashed our country's economy!!! It's going to take us Democrats years to clean up your mess and get our economy going again......just like Clinton did in '92.

    February 17, 2009 02:33 pm at 2:33 pm |
  16. randy

    He is an American success story, if you consider an American success story a rich person getting even richer. It is always nice to have a little start up capital.

    February 17, 2009 02:36 pm at 2:36 pm |
  17. Howard

    Oh who cares. This isn't news. I do find it comical to think that Mitt Romney can say he has any connection to good hard, working Americans. Do most hard working Americans have to unload their multi-million dollar mansions?? I don't dislike the guy because he made money, I dislike the fact that he fantasizes about having anything in common with most Americans!!! This guys will never have a clue about what is going on with most Americans. At least a few years ago Obama was too broke to rent a car to get to the Democratic convention in 2000. He may still have a connection to the rest of America. Romney no way!!!

    February 17, 2009 02:38 pm at 2:38 pm |
  18. w.l. jones

    Every American get goverment hand out from national security,local police protection. street and highways. clean water,ports and airport the list go on and on give me a break.

    February 17, 2009 02:38 pm at 2:38 pm |
  19. Bill

    Wow look at these comments. Ever seen so many crazy fanatics on CNN that hate Republicans being financially successful. By the way if he does donate any money it will be put in a place where it will help a hell of lot more than $13/week for the average American. We could have had a president who was had real record of success in life. Instead we have talking points like transparency and change but we are getting neither just more pork.

    February 17, 2009 02:39 pm at 2:39 pm |
  20. Kim

    "Downsizing" from 9,500 square feet (one of the houses only)??? Please forgive me while I pick myself up from the floor, laughing. I don't care which political party someone belongs to; please tell me why anyone needs that many square feet in a "CABIN". How can someone with this much conspicious wealth relate to the average middle income worker (like me) struggling to stay afloat in these times?

    February 17, 2009 02:41 pm at 2:41 pm |
  21. Chloë

    "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.

    I had to laugh. Of course, now that the children are grown up, four mansions is MUCH too much space.

    And to this comment:

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

    Is the American Dream now to be as gluttonous and excessive as possible? Is four mansions while the less fortunate starve the ideal of success? The pursuit of happiness...if that makes you happy I suppose. Personally, I couldn't live with myself.

    February 17, 2009 02:41 pm at 2:41 pm |
  22. Bud Burgoon-Clark

    Nobody needs THAT much money. Tither or no, it is OBSCENE.

    February 17, 2009 02:42 pm at 2:42 pm |
  23. Carramea


    Milt inheirited most of his money. Do you know he makes money by buying companies and liquadating them. Nice guy.......... NOT

    February 17, 2009 02:44 pm at 2:44 pm |
  24. Tines

    Good for him for having the money to have bought these in the first place. I'm a liberal and I say more power to him.

    I do totally agree on the comments about the words 9500 square foot and cabin beinf mutually exclusive. But, I wish I had the $$ to buy the place. Looks killer.

    And I also agree with the comments that say, "THIS IS NEWS?!?!"

    February 17, 2009 02:44 pm at 2:44 pm |
  25. txniner

    Any of you blabberging fools that call out this man's success (wealth) ever call out John Kerry or Ted Kennedy – or any other wealthy Democrat/Liberal for that matter. BTW, how many houses does John Kerry have. Wasn't he YOUR candidate for President recently? You might want to answer that by looking up the word hypocrite! And finally, NO – this ISN'T news, it's CNN!

    February 17, 2009 02:45 pm at 2:45 pm |
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