More brain drain in development

Talented development professionals have felt the brunt of the real estate downturn and the uncertain outlook is forcing them to look outside the state.

Consider Susan Watts, a veteran of residential development with 25 years in senior management with Gulf Coast-based companies such as Bonita Bay Group, Collier Enterprises, WCI Communities and Westinghouse Communities. She was recently tapped to become executive director of the University of Colorado Real Estate Center, a job she'll start in January.

“I looked around Florida and there isn't much out there for someone with my experience level,” Watts says. Like others, she specula tes it could take as long as another three to five years for Florida's real estate market to return to normal.