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. playlist

    Who cares Romney "Big Dig" unloads some houses....not a chance in 2012...Keep GOP in EXILE

    February 17, 2009 12:38 pm at 12:38 pm |
  2. keyrob

    He really needs to leave La Jolla !! He is not a La Jollan and even though he owns a 12 million dollar house here he will never ever be seen in public just like McCain all the Politicians want to leave there cold or hot weather states and come to the best weather in the world. Yes La Jolla where we La Jollan's live. Not the useless politicians!!

    February 17, 2009 12:38 pm at 12:38 pm |
  3. Anonymous

    They need to put Romney's house on MTV cribs

    February 17, 2009 12:38 pm at 12:38 pm |
  4. Not4MoreYears

    Yeah, a real "man of the people", this guy. A real "Joe Six-house".

    Perhaps he, at least, can answer the question about how many places he owns......

    February 17, 2009 12:39 pm at 12:39 pm |
  5. Sniffit

    @ demwit

    Funny how some see the American dream as something only a privileged few shoudl be living...

    February 17, 2009 12:39 pm at 12:39 pm |
  6. Ellie

    Mitt, Mitt, Mitt...

    Please don't use the excuse of "not needing more space" as an excuse of getting rid of two of your homes. American understands the fact that YOU CAN'T AFFORD TO KEEP THEM buddy.

    No "sugar coating or distortions to the truth" is needed, Americans GET it, unlike you and your GOP colleagues.

    I'm sure your buddies John McCain, Lindsey Graham, John Boehner or Eric Canter will GLADLY PAY for the mortgages on your two homes, they'll consider it to be a TAX BREAK FOR THE WEALTHY!!! Oooops, I'm sorry they've already done that for 8 YEARS!!!!

    I hope the GOP likes getting a taste of their own medicine.

    February 17, 2009 12:39 pm at 12:39 pm |
  7. Brian

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

    Governor Mitt Romney and his wife, Ann, have donated nearly $2.9 million to more than 40 healthcare groups, schools, and other charitable organizations since 1999, including $2.2 million to the Church of Jesus Christ of Latter-day Saints, a Globe review of Internal Revenue Service documents shows

    Last year VP Biden gave $364 to charity... Impressive

    February 17, 2009 12:39 pm at 12:39 pm |
  8. LAB in Dallas, TX

    This is nothing more than political posturing. Let's see...given the rate at which homes are moving in today's market, Romney's properties should be off the books in time for the 2012 presidential election. He's trying to "poor it down" in order to avoid the whole "how many houses do you have?" fiasco. Nice try Mitt...unfortunately, for you, the majority of Americans are not dumb enough to fall for it.

    February 17, 2009 12:40 pm at 12:40 pm |
  9. Eric

    Why now?It seems that by all account they feel the pain too.If the poor fail ,the rich too. Hammm!I heard that the president will announce his housing bailout tomorrow? Oooooh No. The solution is tax reduction!!!!!!!!!!!!!!!!!!

    February 17, 2009 12:40 pm at 12:40 pm |
  10. Willis

    Perhaps Romney is thinking ahead! 2012???. Remember McCain's 9 or 10 houses ....


    February 17, 2009 12:40 pm at 12:40 pm |
  11. Larry from RI

    Hey, "MITT HAPPENS"!

    February 17, 2009 12:41 pm at 12:41 pm |
  12. Miles

    "Scientologists of the dessert." -Elder of Zion February 17th, 2009 12:20 pm ET

    And he (Elder of Zion) is probably one of the Atheists of the Brunch.

    While I am a Christian of the Appetizer.

    February 17, 2009 12:41 pm at 12:41 pm |
  13. kingssman

    hmmmm well, times are tough.. Sad thing is, if it were a republican in the WH romney would receive a bailout or tax break so he can keep one of his 4 houses.

    February 17, 2009 12:42 pm at 12:42 pm |
  14. T the B

    Now here'a a family that can relate to the financial crisis of the typical American.

    February 17, 2009 12:42 pm at 12:42 pm |
  15. Carolyn in Memphis Tennessee

    It easier for a camel to get through the eye of needle than for a rich man to go where ever rich people go. Maybe Romney can donate a few million to the governemt to help reduce the nationanal debt since he probably benefited from all those tax cuts and loopholes.

    February 17, 2009 12:42 pm at 12:42 pm |
  16. Al, NY NY

    Maybe old man McCain and his Botox Barbie doll wife can buy it to add to their already-extensive holdings of extravagant real estate. I bet Cindy would just love another house to parade around in while hawking Budweiser with one hand and preaching morals with the other

    February 17, 2009 12:43 pm at 12:43 pm |
  17. justin

    That thing is bigger than my apartment complex.

    February 17, 2009 12:43 pm at 12:43 pm |
  18. Chris

    So many of you are filled with hate and bitterness.

    February 17, 2009 12:43 pm at 12:43 pm |
  19. J

    Both Romney and McCain represent what Republicans now stand for. The majority of Americans see where their ideas led us politically and economically over thew last 8 years. --Rejected to the extent we not only overwhelmly elected a DEMOCRAT, but a BLACK one at that. -- This Goldwater Republican cannot recognize the Republicans nowdays.

    February 17, 2009 12:43 pm at 12:43 pm |
  20. Peggy - TX

    Democrates do not hate the rich, rather they want everyone to have an opertunity to have thier hardwork be profitable. Presently, the top 1% of income earners in American are skimming the majorty of this nations wealth, which is consistent with pure Capitalisim principles, but consistent with long term ecomonmic stability.

    February 17, 2009 12:43 pm at 12:43 pm |
  21. Jim in Fllorida

    CNN is trying to create news on Romney where there is none. If Romney is nothing else he is smarter than Obama, way smarter.

    On the flip side, everyone wails about how bad the economy is. Is there any wonder. Our "President" awakes every day and he can't say a single good word about the economy. Obama is Chief Doom and Gloom Officer and his brainless Democratic "leaders" dance to his tune.

    While Pakistan commences its fall to Islamic Nazis Obama fiddles. The difference between Pakistan and Iran.?

    Pakistan has nuclear weapons – and lots of them.

    Stand by – Obama and his administration is clueless to the world. They are too busy jetting arouund the country and the world doing nothing.

    February 17, 2009 12:43 pm at 12:43 pm |
  22. GOP = Geriatric Obstructionist Pityparty

    "Liberals don't hate rich Americans, they hate rich Republicans"

    Not true, we do not understand all arrougant, self-righteous repubs that think the little guy is a drag on the economy because he is not rich enought to survive an economic downturn without having to use unemployment insurance or an extension of said benefit.

    Instead of "givng fish" repubs would like to hand us all a fishing pole and set us adrift in the ocean, all 5 million of the unemployed.

    February 17, 2009 12:43 pm at 12:43 pm |
  23. RH

    The suggestion that Romney's selling of two of his palaces constitutes 'belt-tightening' is offensive and outrageous.

    There are only owners and workers, people.

    February 17, 2009 12:44 pm at 12:44 pm |
  24. DonnieJ

    And I'm sure he needed to have all of the lights on at the same time in that "ski retreat." The drowning polar bears thank you, Mitt.

    February 17, 2009 12:44 pm at 12:44 pm |
  25. JPM

    I don't hate rich people, I just hate rich people who then want to govern by espousing "personal responsibility", when they have nothing at all to worry about. They are so out of touch with what average people are going through, they shouldn't be allowed to tell us what is best for us.

    February 17, 2009 12:44 pm at 12:44 pm |
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