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. Mitt would be a great Commerce pick

    CNN, do us a favor, instead of non-stories like this, how about going over the Obama bill page by page and report on it, I think they call it DOING YOUR JOB.

    Actually you and the rest of the MSM are doing your jobs, step one GET HIM ELECTED, step two is keep him PROTECTED.

    The sheep think this empty empty vesel is doing real swell, because the don't know the truth.

    Waits four days to sign the bill and it has to be a show.

    Style and NO uh, uh, uh, uh substance, kind of like tax cheat Timmy Geithner.....

    One and done Barry.

    February 17, 2009 12:52 pm at 12:52 pm |
  2. Fan of Common Sense

    OK, CNN. We get it. Romney is one of those evil white guys and, therefore, we should not even think about electing him president in 2012. I never thought I would see the day when success and intelligence were considered handicaps in getting elected president of the United States.......but then again, I guess that explains why we have who we do in the Oval Office now.

    February 17, 2009 12:53 pm at 12:53 pm |
  3. K. Owe

    Oh my heart is breaking. Why don't we take up a collection so that he doesn't have to be without TWO MANSIONS?! Unbelievable. And they have the nerve to be against the stimulous package? Gimme a small break.

    February 17, 2009 12:53 pm at 12:53 pm |
  4. Kyle from PA

    you cant make this stuff up!

    February 17, 2009 12:54 pm at 12:54 pm |
  5. dude

    You liberals are a bunch of idiots. Romney made his money from good clean hardwork. Unlike the democrats that steal, cheat, and lie to earn money. "CAN ANYONE SAY AL GORE"

    February 17, 2009 12:55 pm at 12:55 pm |
  6. Convservative for life

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

    Sounds like he would be following Joe Biden's example then wouldn't it?

    February 17, 2009 12:55 pm at 12:55 pm |
  7. Mike

    Too bad Mitt didn't listen to Ron Paul. Apparently he was right about the economy where Mitt was dillusional. I wonder how many other things Mitt was incorrect about? Maybe he should have supported the constitution "In the tradition of the founding fathers" like Ron Paul, Ezra T. Benson, David O. McKay, J. Reuben Clark, and even Cleon Skousen.

    February 17, 2009 12:55 pm at 12:55 pm |
  8. Conservative for life

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

    Sounds like he would be following Joe Biden's example then wouldn't it?

    February 17, 2009 12:55 pm at 12:55 pm |
  9. Maddie

    What a pity...the Republican "gravey train" is over. Let's see if Cindy and John McCain have to "unload" some of their ill-gotten gains.

    February 17, 2009 12:56 pm at 12:56 pm |
  10. Melissa

    Liberals do NOT hate rich Americans. The Republicans got us into this mess and now all they're doing is moaning like children because they aren't getting their way anymore.

    As for Romney selling his mansions, oh boo hoo. He'll still get millions for them while the rest of us are struggling just to get food on the table and pay the rent.

    February 17, 2009 12:57 pm at 12:57 pm |
  11. Jimson Hallway

    you people hating on him for the fact that he's rich are simply pathetic. This is a man who built his business and hence fortune from the ground up. He's a GOOD EXAMPLE for all of us to aspire for the american dream, and shame on you for not being able to see over your own shortcomings long enough to see that. He's made good decisions and provided literally THOUSANDS OF JOBS for regular people like you and me.. and for that I'm THANKFUL. You sour people who want to penalize him for being successful are truly sad and pathetic.

    February 17, 2009 12:57 pm at 12:57 pm |
  12. southerncousin

    This is an irrelavant story for the ticker, apparently just thrown in so the libs can spew hatred for republicans. In the mean time, the Dow is once again showing its "enthusiasm" for Obama's handling of the economy, once again lowerering our pensions and 401K's. Obama is meeting his goal, making all of us dependent on the government and furthering the philosophy of the democrats, that they know how to spend my money better than I do. Elitist snobs.

    February 17, 2009 12:57 pm at 12:57 pm |
  13. kaw

    So let me understand this...many of you posters here hate this guy for being a successful business person?

    My goodness, how dare he!!! Why can't he be like the "majority" of Americans and strive to just get by pay check to pay check. The audacity of this man to make his own money, pay his taxes and spend the rest as he sees fit. I'm appalled and hope he gets what he deserves...oh wait, I guess he already has.

    February 17, 2009 12:58 pm at 12:58 pm |
  14. Brennan, Seattle WA

    This isn't belt tightening, this is image tightening.

    Mitt doesn't want to look like JMcCain not knowing how many houses he owns. He is getting ready for 2012.

    February 17, 2009 12:58 pm at 12:58 pm |
  15. Cindy

    To James-–You hit the nail right on the head regarding Rezko and Obama

    February 17, 2009 12:58 pm at 12:58 pm |
  16. moderate

    Wow cares, what this moron is doing. Just another loser.

    February 17, 2009 12:59 pm at 12:59 pm |
  17. nancy

    Wow. Is it any wonder that republicans did very well for themselves in the last 8 years? He and John McCain can compete with each other on who has the most homes. While many americans have NO homes. I hope they sleep well at night and they have the audacity to say that PRESIDENT OBAMA is doing everything wrong. They are all now sharing that one brain cell that McCain used so extensively during the campaign. Put up or shut up Repubs.

    February 17, 2009 12:59 pm at 12:59 pm |
  18. CO

    Romney earned his money, let him enjoy it. But he's hardly "unloading," as the headline claims, when he's still buying $12 million homes and has plans for a new condo.

    February 17, 2009 01:00 pm at 1:00 pm |
  19. Quinn - Houston, Texas

    This is what happens when you spend 62 million dollars to buy the presidency of the United States.

    Instead of living in the white house, Mitt's getting evicted from his own house. Sad.

    February 17, 2009 01:01 pm at 1:01 pm |
  20. Tim in Minnesota

    I just love these kinds of message boards. One guy rips liberals and another rips conservatives, which of course have nothing to do with the article. Mitt Romney made a lot of money. Whoopee-do! Good for you! Who really cares what he does with it?
    I wonder if he HAD to part with his 9500 ft2 ski mansion or the Belmont extravaganza? Maybe Bernie Madoff with some of Mitt's money? If so, well, here comes the stimulus, Mitt! Just hold on for a little while longer.

    February 17, 2009 01:01 pm at 1:01 pm |
  21. JJ in FL

    i think everyone is missing the big picture... he's not "falling on tough times" like the rest of us... he's preparing for a presidential run in 2012. how much hell did we libs give mccain for his 7 houses..? he's gonna try to avoid taking that chance, so he can appear more "average American" when he runs again.

    the unloading of his extra properties is entirely political. nothing else!

    February 17, 2009 01:01 pm at 1:01 pm |
  22. Average Joe Guy

    James, Mitt Romney was born into politics with a silver everything in his mouth. His father was the Governor of Michigan and ran for the 1968 Republican nomination for POTUS. This is a person born to great priviledge...his name is Willard "Mitt" Romney, after his fathers best bud Willard Hilton, the hotel magnate. It's not like you came from nothing and made something of himself. He had ALL the advantages and simply chose to take them.

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

    soudns like someone has learned from McPain's mistakes and is unloading to make a run next election.

    February 17, 2009 01:01 pm at 1:01 pm |
  24. baker

    How many people lost their homes (probably only one home each) because Romney's company bought them out, came in, divided it up, sold it off and shipped it overseas? Think & take a close look before you start to idolize. Mr. Romney is the poster child for profiting from outsourcing. How many homes did he have to start with? Oh, and for you animal lovers out there, remember putting the family dog on top of the car for the family vacation trip. Go ahead, google it. I don't care which side you're on, demand honest and transparency from all politicans and political pundits.

    February 17, 2009 01:02 pm at 1:02 pm |
  25. Ken

    It really amazes me that their are so many RICH people that have several homes and huge homes I must say, while there are so many small and necessary homes, being lost to foreclosure?

    Like the banks that the taxpayers are bailing out, the saying "The Rich Get Richer, and the POOR Get Poorer"

    It amazes me how much it costs just to move the President around is beyond me. Is this cost really necessary?

    As our lord has said, "The meek shall inherit the earth".

    February 17, 2009 01:03 pm at 1:03 pm |
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