Norfolk Realtor Kathryn Kramer has seen prospective homebuyers try many tactics to secure a contract in the midst of the booming residential real estate market, but one sticks out in her mind.
During a competition for a home this month, the second-highest bidder asked the person with the top bid to walk away in exchange for $30,000 cash.
The person refused because they didnât want to venture back out into the current housing market, Kramer said.
A record low inventory of homes on the market, combined with low interest rates, translated to a great 2020 for area real estate companies. In the midst of an economy-shrinking pandemic, residential housing has remained a bright spot locally.
âThe houses right now are flying off the shelves, and thatâs a supply-and-demand study for the ages right now,â said J. Van Rose Jr., principal owner of Rose & Womble Realty.
 Read more in this Sunday's Main News section.