An Alabama Real Estate Course Online survey reveals the following results.

-- 38 percent selected the Pacific Northwest as most attractive for development.

-- 39 percent selected Seattle as the U.S. city with the most potential for real estate investment during the next three years.

-- The Northeast United States ranked lower than all other parts of the United States as well as Eastern and Western Europe for development and investment potential.

-- Almost half of those surveyed selected New York and Boston as having the least potential for real estate investment during the next three years.

-- 38 percent chose both Houston and Dallas as having the most potential for investment.

-- 35 percent selected the Southwest United States as having the most investment potential over the next three years.

-- The present administration and congress are having a "somewhat negative" effect on the real estate industry with regard to economic growth, regulations, taxes, inflation and interest rates, and a "negative" effect with regard to financing.

-- 54 percent state they have no interest in acquiring or managing RTC properties.

-- In a breakout of 225 respondents from the Southwest, where most RTC properties are located, 41 percent state they have no interest in acquiring or managing RTC-held properties.

-- 38 percent of all respondents think the RTC should hold the assets and joint venture with private industry.

-- 37 percent think the RTC should sell selected assets over a 10-year period.

-- Another 34 percent believe passive tax rules for RTC properties should be eliminated for a three-year period.

-- 89 percent said there has been a fundamental change by lenders, which will make financing more expensive in the future.

-- 78 percent noted that obtaining financing during the past 12 months has been "somewhat difficult" to "very difficult."

-- 83 percent believe it will remain "very difficult" to obtain financing in 2007.

-- Savings and loans have dropped as a source of debt financing, from 48 percent five years ago to 7 percent today, to 5 percent anticipated three years from now.

-- 16 percent of respondents noted pension funds as a major equity financing source five years ago, compared to 23 percent today, and 36 percent expect it to be a source of financing in three years.

-- Foreign investors have already increased their participation as providers of equity, from 16 percent five years ago, to 23 percent today, and 33 percent expected in three years time.

-- At least one-third of those surveyed have experienced one or more of the following: cash flow problems, workouts of properties, reductions in operations or personnel, or a company reorganization.

-- 23 percent have restructured debt during the past 12 months.

-- 26 percent have added property management to their scope of services during the past two years, 11 percent plan to add it in 2007.