Downsizing? Mitt Romney’s Two Mansions For Sale

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Downsizing in the downturn, it’s a trend even high-profile millionaires can’t escape. Mitt Romney, the wealthy ’08 GOP presidential hopeful from Massachusetts, is looking to unload some of his excess real estate. According to the Boston Globe and CNN, the former governor of Massachusetts and his wife, Ann, have recently put two of their four homes (read: mansions) up for sale. The first, a luxurious ski “cabin” in Deer Valley that overlooks a reservoir and mountains and comes fully furnished with custom fixtures,  fireplace screens, and eight full bathrooms. The Deer Valley, UT home for sale is located at 3853 Rising Star Ln, Park City, UT and is listed at $5,250,000.

The second high-profile  Romney family home for sale is  in Belmont, MA and is located at 171 Marsh St., Belmont, MA, 02478 (photo below). This is where the Romney’s raised their five sons, all grown and out of the nest.

Worth over an estimated $200 million, Mitt Romney and family deny that they are selling because of the recession or because of the $42 million the former governor spent on his presidential campaign.

According to a family spokesperson:

“The reason they’re selling is because they have more space than they need,” said Eric Fehrnstrom, a longtime spokesman for the Romney family, in a telephone interview yesterday. “The Romney children are all grown and have families of their own, so they’re downsizing and simplifying…Like any American family, the Romneys haven’t escaped the effects of the downturn in the economy,” he said. “But the reason they’re selling two of the homes is just simply because they have more space than they need.”

Romney still owns an estate that overlooks Lake Winnipesaukee in Wolfeboro, N.H., (which was valued at about $10 million two years ago) and  beachfront pad in posh La Jolla, CA.

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