MCCM News

We are pleased to announce that MCCM attorney Peter J. Gregory was named to The Daily Record's "Power 20 Real Estate Law” for 2024 as one of the top twenty real estate lawyers in the Greater Rochester area. In announcing the list, The Daily Record noted that:

"The people on this list help clients — both individuals and companies — navigate complex transaction processes to help fulfill their personal dreams or organizational goals. Their job has been made even more difficult over the past three years. The COVID-19 pandemic, rising inflation and interest rates, and uncertain economic conditions have made the real estate industry even more difficult to navigate. These attorneys continued to serve their clients admirably while navigating new ways of doing business thanks to restrictions that limited or halted face-to-face meetings."

Peter counsels on real estate matters including purchase and sale transactions, financing, leasing, and related disputes. He was asked about his extensive experience in real estate law:

What has been your biggest challenge over the past year?

The biggest challenge over the past year has been the lack of inventory for residential real estate. Rising mortgage interest rates have persuaded many current homeowners to stay put and keep the lower rates that they previously locked in, while most of the properties coming onto the market were necessary sales due to death, divorce, or career moves. While sellers are enjoying rising sale prices due to bidding wars, many buyers are also getting discouraged, and some are choosing to stay on the sidelines until the market changes.

What are you most excited about for the coming year?

The “soft landing” that economists hoped for appears to be occurring, as inflation is cooling with indications that we will also avoid a recession. The Federal Reserve chair indicated that the time is coming for interest rate cuts, which should translate into lower mortgage rates and additional sellers willing to move and put their homes up for sale. We could have busy fall and winter seasons if there are multiple rate cuts this year. There have also been some exciting big changes in the local market, as Elysian Homes by Mark Siwiec & Associates launched as a new brokerage and Majuwa Kowai-Bell opened our area’s first CrossCountry Mortgage branch. I am fortunate to work with such amazing professionals and look forward to watching them continue to grow in the coming year.

What are the biggest mistakes you see made related to real estate law?

One of the biggest mistakes I see is the failure to thoroughly advise homebuyers of the consequences of waiving a formal engineer’s inspection. In a sellers’ market, buyers need to waive contingencies to make their offers competitive in bidding wars, but it is also important to ask if they had an opportunity to conduct at least an informal examination of the property’s condition before they make their offer with an explanation that they are usually buying the house in “as is” condition. Sellers should also be advised to make full and accurate disclosures of known concerns regarding the condition of the properties they are selling. My real estate litigation work has grown recently as buyers discover unexpected issues after purchasing a home and sellers defend against allegations of fraud.

What is one thing you enjoy more about practicing law since the pandemic?

I enjoy that real estate law has finally embraced technology. The pandemic was the catalyst for our industry to move forward with advancements like videoconferences, e-signatures, and remote work. These developments improved my efficiency, responsiveness, and overall ability to better serve my clients. While nothing builds trust better than face-to-face meetings and personal interactions, these new tools enhanced my ability to practice law.

What is your favorite thing about the Rochester region?

My favorite thing about the Rochester region it its vibrant community spirit, with numerous festivals, markets, and public events that foster a sense of belonging and cultural enrichment. In addition to our area’s natural beauty, the cultural depth and community engagement makes the Rochester region a unique and beloved place to raise a family and practice law.

If you would like to schedule a consultation to talk about your questions regarding real estate, either as a buyer or seller, please feel free to contact Peter at pgregory@mccmlaw.com or 585-512-3506.

This publication is intended as an information source for clients, prospective clients, and colleagues and constitutes attorney advertising. The content should not be considered legal advice and readers should not act upon information in this publication without individualized professional counsel.

About MCCM

McConville Considine Cooman & Morin, P.C. is a full-service law firm based in Rochester, New York, providing high-quality legal services to businesses and individuals since 1979.  With over a dozen attorneys and a full paralegal support staff, the firm is well-positioned to right-size services tailored to each client. We are large enough to provide expertise in a broad range of practice areas, yet small enough to devote prompt, personal attention to our clients.

We represent a diverse range of clients located throughout New York State and New England.  They include individuals, numerous manufacturing and service industry businesses, local governments, and health care professionals, provider groups, facilities and associations. We also serve as local counsel to out-of-state clients and their attorneys who have litigation pending in Western New York courts.  For more information, please contact us at 585.546.2500.