Mitt Romney’s Personal Property Ups and Downs

Mitt Romney was listed in People magazine’s 50 Most Beautiful People in 2002. The current presidential candidate and former Massachusetts Governor also worked as a  Mormon missionary in France. Romney owns a respectable real estate fortune in the United States. In fact, he’s owns the more homes than any other Republican Presidential candidates to date.

Despite Mitt’s public persona as a ” facts-driven, cautious, formal, socially stiff, and ‘spare with his emotions'” kind of guy (according to Wikipedia), his real estate history is far more “dynamic” than what he projects to everyone. Through the years, he and his wife had sold — and purchased — properties, and their most recent ones include the following:

Colonial House

Mitt and his wife, Ann, sold their Belmont Massachussetts home for $3.5 million. They bought the 2.5 acres colonial in 1989 for $1.25 million, which was five years after Mitt helped create the Bain Capital. This house practically grew with the family, and has seen all of his five signs grow up and attend the private day school, Belmont Hill School. They sold the 7-bedroom house (with a tennis court and a pool) in 2009. By that time, their sons have left the nest, leaving Mitt and Ann to buy a 2-bedroom townhouse condominium in Belmont a year later. The price of the property? $895,000.

Beach House

Also, in 2009, the couple sold their $5.2 million Park City, Utah ski chalet and bought a beach house in La Jolla, California. They also brought Ann’s horses along as therapy for her multiple sclerosis. They bought the 3009 square foot house for $12 million, and many speculate that they will replace it with a much larger home to add more space for their myriad relatives, friends and guests. However, it was confirmed later that the couple are just planning to add a 3,600 square foot basement together with a four-car garage, car elevator and an outdoor shower.

Six-House Compound

With all these purchasing and selling of real estate, there is, however, one house that has stood the test of time. The house, which they have had even before the last election cycle, has been their summer compound in Wolfeboro, N.H. It stands on the shores of Lake Winnipesaukee, and they are actually a combination of six properties that make up one compound — all valued at around $8 million. Despite the 30 percent reduction of property values in their area, many real estate experts believe that Romney’s house can sell at a much higher rate than the usual.

Despite being $10 million less than what they had back in 2008, Mitt and his wife have a lot to celebrate. They’ve moved into really good properties with prime value, and they still own a substantial number of houses that make good investments. And how much is the total value of the Romney’s real estate properties? A whopping $18 million, roughly.

 

This entry was posted in Fun. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *