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» VISIT US ONLINE @ DSNEWS.COM 81 New York REDUCING TIMELINES THROUGH EXPERIENCE. Providing Default Real Estate Solutions Since 1988. Todd Yovino Broker/Owner Island Advantage Realty, LLC Serving Metro New York & Long Island Todd@iarny.com | 631-820-3400 www.islandadvantage.com measures are taken. Consider if an NOI is sent as a protective measure at the same time as a hypothetical Petition to Determine Vacancy is filed, then the creditor still has the ability to proceed with the vacant process if the petition is granted or could still file a normal Order to Docket if the petition is denied. e borrower would have received their NOI and could not object on that basis and post-filing mediation would still be available. Maryland Rule 2-303 and Federal Civil Rule 8 allow pleading in the alternative, so this would appear to be feasible. Counsel could also explore other approaches that are permitted by the rules and procedures currently in existence to permit their own late-stage election of remedies, depending on what the borrower says or does. Either of these options could be done with little additional cost to creditors beyond what already has incurred in such proceedings and the upside of saving several months' time would appear worthwhile. Finally, as with any new process, efforts should be made to consult with existing title providers to see whether they will insure titles emerging from the vacant property process and, if so, under what conditions, prior to commencing such a proceeding. ere is ample time to check with your preferred provider before October, and that process should begin as soon as possible so that it is well established before loans are referred for the "fast-track." Kevin Hildebeidel is a graduate of the Wash- ington College of Law at American University in Washington, D.C. He is a shareholder in the Stern & Eisenberg enterprises and is the firm's lead at- torney for the Mid-Atlantic region. NEW YORK The Seller's Market May Be on its Way Out It seems the nation's white-hot seller's market may be starting to cool off—at least if a recent analysis by ValueInsured is accurate. According to a recent blog post by ValueIn- sured's experts, major cities like New York City are showing signs of slowing down. Still, despite these so-called signs, most homeowners haven't taken notice—at least not yet. According to ValueInsured's recent Modern Homebuyer Survey, most U.S. home- owners—about 74 percent—believe the market is right for selling. Millennials are even more adamant that it's a seller's market, with nearly 80 percent saying now's the time to sell. According to the survey though, most aren't confident the seller's market will last much longer. "e current market conditions definitely seem to favor home sellers, based on both homeowners' and buyers' sentiment," Val- ueInsured reported. "However, homeowners' confidence does not seem to extend equally to the near short term. ey are less hesitant to bet on a continued seller's market six months from now." Only half of homeowners said the market would be good for selling six months from now, and 52 percent said buyers would be wise to wait until later this year or early 2018 to purchase a home. Nearly three-quarters of all millennials said the same. But while seller sentiment and slowdowns in certain hot markets may be a sign of things to come, ValueInsured said it's still too early to say the seller's market is over. "As home closings and prices are typically reported with a few months of lag time, it is still premature to know if other markets will follow based on real home sales data," the post stated. According to Trulia's 2017 report "Boom- mates," New Yorkers can add an additional $10,411.20 to their annual income by renting a spare room. KNOW THIS

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