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. Lilarose in Bandon, Oregon

    Mitt, why not donate those homes to homeless people?

    Why not use them as camps for kids?

    Why not use them as rehab homes?

    I can think of lots of uses for those homes.

    February 17, 2009 01:03 pm at 1:03 pm |
  2. Liz in DC

    Mitt Romney is doing this to prep for his 2012 presidential bid–he doesn't want to look like another McCain. Ask yourself, can you vote for someone who belongs to a cult that excluded blacks up until 1967? If you like the Taliban, you will like Mitt imposing his bizarre religious views on you.

    February 17, 2009 01:03 pm at 1:03 pm |
  3. Stacy

    There are some idiot comments here...

    ...he is not in foreclosure
    ...he has not fallen
    ...who cares if he doesn't give any of the proceeds to charity, they've given more (percentage) than Pres Obama and VP Biden combined
    ...I know of few working families having a hard time. yeah, we stopped doing somethings, but only those who have always been down are still down. Yeah, I know 8 folks who lost jobs, but are working again, and not looking for a handout
    ...lets not forgot that Obama is part of the rich crowd they like to talk about, and he had his money hidden in a tax shelter too.

    I am still waiting on that change I can believe in, oh I forgot, he put lots of Bill's folks back in and even one or two of George's

    February 17, 2009 01:03 pm at 1:03 pm |
  4. Pat Omaha, NE

    Wow! Sounds like at least one Republican is beginning to "get it"...he has to down-size? I am broken hearted!

    Why the @*#! does anyone need all those houses (or "cabins")????

    February 17, 2009 01:03 pm at 1:03 pm |
  5. Lilarose in Bandon, Oregon

    Noah, liberals don't often use the word "hate."

    That is a conservative word.

    February 17, 2009 01:03 pm at 1:03 pm |
  6. Frost/Tennessee

    He can give it to me.. lol

    nice house

    February 17, 2009 01:04 pm at 1:04 pm |
  7. Wasilla Moose Killa

    I know how you feel, Mitt- I'm having the hardet time unloading my spare mansions-

    Good luck with that :/

    February 17, 2009 01:04 pm at 1:04 pm |
  8. Mitt Capone

    "9,500 square foot cabin, 9.5 bathrooms" –that's a cabin??

    That is one lavish shack!!! Cabins are usually the size of Mitt Romney's master bedroom. (or walk-in closet) We sure dodged a bullet with this aloof Mormon Mafioso. Mitt doesn't have a clue...

    I hope he loses the rest of his multi-million-dollar "cabins" like the rest of America.


    February 17, 2009 01:04 pm at 1:04 pm |
  9. republicans hate america

    see this is what republicans do with the tax cuts they by four mansions not create jobs

    February 17, 2009 01:04 pm at 1:04 pm |
  10. Nathan

    obviously not a conservative when it comes to money is he?

    February 17, 2009 01:05 pm at 1:05 pm |
  11. susie

    Why do people get so jealous of someone for being rich?
    Romey WORKED and EARNED his money. A lot of people want the government to give them handouts instead of earning their money themselves, the old-fashioned way.

    February 17, 2009 01:05 pm at 1:05 pm |
  12. Seth

    Hey Sean Nally, on average Republicans are more charitable than Democrats, so lets make a wager that you made a dumb comment. I win!

    February 17, 2009 01:06 pm at 1:06 pm |
  13. Angie

    and this is news why? who cares what that arrogant loser does.

    February 17, 2009 01:06 pm at 1:06 pm |
  14. Blake

    And exactly how much has Obama donated to charity?

    February 17, 2009 01:06 pm at 1:06 pm |
  15. JR

    9500 square feet doesn't constitute a cabin, in my opinion.

    February 17, 2009 01:07 pm at 1:07 pm |
  16. Nola

    People that live in homes with 8 or 9 bathrooms cannot relate to little old everyday individuals.

    February 17, 2009 01:07 pm at 1:07 pm |
  17. JR

    Who wants to bet that Sean doesn't donate a cent from any future sale of his home to any charity. *rolling eyes*

    February 17, 2009 01:08 pm at 1:08 pm |
  18. LK

    ???what's the point or news value of this story..

    February 17, 2009 01:08 pm at 1:08 pm |
  19. John

    How can Romney possibly speak for the average American when he (they) don't live on the same plane. This guy has nothing in common with 99.9% of those people he claims to speak for.

    February 17, 2009 01:08 pm at 1:08 pm |
  20. KC

    ....again, Wow!!! Hate, hate, hate, hate, hate.....liberals are no better than conservatives....nasty, vicious, hateful people. Need to get over the hate people.

    February 17, 2009 01:08 pm at 1:08 pm |
  21. JR

    why is this news? I sold a house too. Anyone care? Anyone?

    Dan, in this market, I think that DOES qualify as news! 🙂

    February 17, 2009 01:09 pm at 1:09 pm |
  22. Jim D. in Costa Mesa

    Lets see...he owns four mansions full of customized furniture. I wonder how all the people he laid off are doing. Tens of thousands! Romney acquired all that wealth by putting people out of work and reducing salaries. He's famous for busting unions so that workers will be at the comp[lete mercy of people like him. I'll bet you he didn't take a pay cut.

    And when they asked him why none of his five military age sons had not joined the military to fight in Iraq, a war he fully supports and would have been more than happy to escalate, he said they could better serve our country by working on his election campaign. He's a greedy hypocrite and his sons are a bunch of pampered cowards. I guess fighting and dying for your country is for the "little people".

    February 17, 2009 01:09 pm at 1:09 pm |
  23. debra

    This must be Romneys idea of putting money back into the economy.

    From previous article regarding Obama going to CO to sign bill. Why does everything have to be overly orchastrated with Obama? Nothing against him but why not just sign the bill from the white house????

    February 17, 2009 01:10 pm at 1:10 pm |
  24. rob

    ah–welcome to the real world

    February 17, 2009 01:12 pm at 1:12 pm |
  25. Chris from NY

    I thought the fundamentals of our Economy are still good. What happened? You can't afford the mortgage?

    February 17, 2009 01:12 pm at 1:12 pm |
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