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Realtors on what’s ‘getting worse’ in Santa Cruz real estate

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As of Tuesday, national interest rates for a 30-year fixed mortgage were at 5.25% — and that concerns realtors Kelley Trousdale and Rebecca Wallace, the former a 28-year veteran of the market, the latter a relative newbie.

Housing costs are on the rise nationwide, and Santa Cruz’s triple threat — lack of development, lack of inventory and Silicon Valley competition — makes it all the more difficult for prospective buyers to get their own slice of Surf City. The pair from Century 21 Sandcastle Realty in Aptos shared their concerns over the changes with Lookout last week, as everyone in the real estate business prepares for a sudden era of rising interest rates.

Veteran Trousdale — who ranks in the top 1-2% of Century 21 agents nationwide in relation to the number of average yearly sales and commissions — acknowledged that the current market is the most competitive he’s…

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