Skilled nursing facilities in Birmingham, Butler, Montgomery, Selma, Montrose Bay acquired by Montreal-based real estate investor paired with Blue Ridge Healthcare – Birmingham Business Journal

Several skilled nursing facilities in Alabama changed hands in March.

Five skilled nursing facilities in Birmingham, Butler, Montgomery, Selma, and Montrose Bay were acquired by a Montreal-based real estate investor paired with Blue Ridge Healthcare, a Florida-based regional operator.

Advisory firm for seniors housing and healthcare real estate, Blueprint Healthcare Real Estate Advisor, represented the seller in the transactions — the company’s first seniors housing venture in Alabama. Brooks Blackmon of Montgomery led the transactions.

Blueprint Healthcare’s transaction volume in Alabama now totals more than $71 million in the last 11 months.

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Millennials are buying a lot more homes than you think

Flickr/Brent and Amanda I
There’s a popular myth that says millennials are destined to be a generation of renters.Millennials are actually the reason the homeownership rate has increased over the past year.Birmingham, Alabama has seen the biggest increase in millennial home buying over the past year.

It’s a popular myth – the millennial generation is destined to be a generation of renters – avocado toast, anyone? With student loan debt burdens, the scars of the Great Recession, and limited housing supply, the myth is rooted in some real challenges for millennials. However, despite these challenges, millennials are not only interested in homeownership, they are the primary reason that the homeownership rate increased over the past year.

Many millennials have prioritized furthering their education and thus delayed getting married and having children, which are critical lifestyle triggers to buying a first home. However, now the oldest millennials have made those lifestyle decisions and are entering the housing market. In fact, the data supports this trend – the homeownership rate among households headed by someone under age 35 increased the most of any age group in the fourth quarter of 2017, jumping from 34.7 percent a year earlier to 36 percent.

Millennial homeownership demand is rising nationally, but where are millennials buying? Using the top 50 largest cities from the 2017 U.S. Census Bureau Current Population Survey, we identified cities with the largest increases and decreases between 2016 and 2017 in the share of homeowners that are millennials.

The top 5 cities where millennial home buying increased the most:

Birmingham, AL Virginia Beach, VA Pittsburgh, PA Buffalo, NY Minneapolis, MN

In the top market, Birmingham, the millennial homeownership share increased from 11.9 percent in 2016 to 18.0 percent in 2017. The top five markets experienced an average millennial homeownership share increase of 5.4 percent. Conversely, some markets have experienced falls in the share of millennial homeownership. The markets with the largest decreases are:

Orlando, FL Louisville, KY Richmond, VA Hartford, CT Salt Lake City, UT

Orlando, the market with the largest drop, experienced a 3.7 percent fall in millennial homeownership share. The bottom five markets’ share of millennial homeowners fell an average of 2.6 percent in 2017.

Out of the 50 top markets, 33 of them experienced increases in the share of millennial homeowners, another indicator that exposes the myth of millennials being destined to rent. These results are consistent with findings that millennials are buying in cities large and small. So, are millennials destined to be a generation of renters? Consider that myth busted. Quite the opposite, actually – and they’re just getting started.

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Birmingham Realtors & Greater Alabama MLS welcome new CEO

The Birmingham Association of REALTORS (BAR) Board of Directors welcomes Dr. Dawn Kennedy as CEO of the nearly 4,000-member association and its multiple listing service. She begins her position as Association Executive on March 19.

"These are exciting times," said 2018 BAR President Kim Mangham-Barelare. "We’ve chosen a CEO who will take us to new heights."

Mangham-Barelare said she is impressed with Kennedy’s passion for the real estate industry and her dedication to providing quality education and services to members.

"She is a burst of energy and sunshine, someone who is always looking for ways to improve relations and to grow the individual agents, whether they be residential or commercial agents or property managers. She will be a joy for everyone to get to know," Mangham-Barelare said.

Kennedy brings with her more than 20 years of executive experience, including 15 years of association management. She considers the work her passion and often blogs and publishes advice for association executives.

"Association management has been a passion of mine since I first became a member of the Wisconsin Restaurant Association in 1995 as a local chapter treasurer," Kennedy said. "When I entered the REALTOR world, I discovered a mission – homeownership – that I could solidly stand behind and knew I had found my lifetime career."

Civic leaders and association members are invited to meet the new CEO 1-4 p.m. Wednesday, March 21, 2018, during a welcome reception at BAR, 3501 Independence Drive, Birmingham, AL 35209. For details, email info@BirminghamREALTORS.com.

Kennedy formerly led the Saint Louis Association of REALTORS, the Oklahoma City Metro Association of REALTORS and its regional multiple listing service, MLSOK.com, and the Northwoods Association of REALTORS and its Greater Northwoods Multiple Listing Service. She has twice been the recipient of the National Association of REALTORS ACE award for Achievement in Commercial Excellence. Kennedy has also served the Woodland Lakes Association of REALTORS and the El Reno Board of REALTORS through the NAR shared services program while CEO of the NWAR and OKCMAR respectively.

Kennedy earned her Ph.D. in organization and management with a leadership specialization in 2015 from Capella University. She graduated from The University of Wisconsin-Platteville with a graduate degree in project management. Kennedy is a summa cum laude undergraduate of Franklin University, where she earned her bachelor’s degree in business administration with an emphasis in economics.

Kennedy teaches graduate courses in association management for the National Association of REALTORS’ REALTOR University Master of Real Estate program as well as the business core marketing course. "Continuous learning is an incredibly important path to excellence, and RU keeps me on that road," she said. Teaching is her way of "giving back to the real estate industry, which has treated me so well," she said.

The Association Executive serves as CEO of the Birmingham Association of REALTORS(r) and its subsidiaries: The Greater Alabama MLS, The Birmingham Commercial REALTORS Council and Silent Angels of Alabama. Among other duties, Kennedy will oversee day-to-day operations, position the association as the local voice for real estate and serve as the association’s visionary leader guided by the board of directors, bylaws, policies, procedures and the association’s mission and strategic plan.

The Birmingham Association of REALTORS (BirminghamRealtors.com) was founded in 1911 and endeavors to enhance members’ opportunities to serve consumers in a professional, ethical and profitable manner. The Greater Alabama Multiple Listing Service (GreaterAlabamaMLS.com) and the Birmingham Commercial REALTORS Council (Bhamcre.com) are subsidiary corporations of BAR. BAR is recognized as Alabama’s trusted real estate authority.

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