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Pro golfer's property values sliced by tough market

Pro golfer David Duval is selling two lavish Denver area properties.

Pro golfer David Duval is selling two lavish Denver area properties.

David Duval, a pro golfer formerly ranked number one in the world, might not be suffering as much as another former number one, Tiger Woods, but he has become a casualty of falling real estate prices. He recently listed two Denver properties for millions less than he paid for them.

Duval is asking $9 million for an 11,372-square-foot house he bought in 2005 for $12.4 million. The house is described by Kentwood Realty as a "Mediterranean masterpiece." The 7-bedroom, 8-bath residence occupies 7.35 acres that include stables and a pool with his-and-hers cabanas.

The second property, located in the same Cherry Hills area as the first, is described by Kentwood as a "rare gem hidden in the pines." The 11,701-square-foot house includes seven bedrooms and nine bathrooms, as well as a 1,500 bottle wine cellar. A putting green, salt water pool and separate guest apartment sit on the property. Duval paid $7.4 million for the property and is now asking for $5 million, according to The Wall Street Journal.

Duval's wife told the Journal she and her husband are trying to "simplify" and plan to buy another house in the area.

The couple might not have to wait long for a buyer, given that the National Association of Realtors recently named Denver the fastest-moving real estate market in the country, with the median age of July housing inventory at 32 days.