Why Your FICO Credit Score Could Get a Boost in 2019

Things might be changing for the better when it comes to FICO scores in 2019.  For decades credit scores have been based on borrowers’ payment history; from mortgage to credit card payments.

Fair Isaac Corp is the creator of the widely used FICO credit score and has plans to roll out a new scoring system in early 2019.  This new system will factor in how consumers manage the cash in their checking, savings and money-market accounts and will be among the biggest shifts for credit reporting and the FICO scoring system, the bedrock of most consumer-lending decisions in the U.S. since the 1990s.

The new scoring system will be called UltraFICO Score. It isn’t meant to weed out applicants,  it is designed to boost the number of approvals for credit cards, personal loans and other debt by taking into account a borrower’s history of cash transactions, which could indicate how likely they are to repay.  This has been in the works for years; it is FICO’s latest answer to lenders who after years of mostly cautious lending are seeking ways to boost loan approvals.

This new system is occurring at the same time the consumer-credit market appears relatively healthy. Unemployment is low and consumer loan balances—including for credit cards, auto loans and personal loans—are at record highs, and lenders are looking for ways to keep expanding loan volume.

We as borrowers currently have little control over what is in our credit reports, except for the ability to contest information they believe is inaccurate. Lenders, collections firms and other parties are fed payment-history data to the major credit-reporting firms, Experian PLC, EquifaxInc. and TransUnion, and that information determines consumers’ FICO scores.  Lenders use FICO scores to help make most of their lending decisions.

The UltraFICO score will function as an appeal of sorts, likely boosting many applicants with less-than-ideal records. If an applicant’s traditional FICO score falls short, a lender can offer to have the score recalculated to reflect banking activity. Would-be borrowers with at least several hundred dollars in their accounts, who have had the accounts for a while and who transact frequently and don’t overdraw are likely to see their scores rise, FICO said.  Applicants will be able to choose which accounts they want considered when the score is recalculated.

A decade after the subprime-mortgage binge nearly brought down the U.S. financial system, consumer lenders remain wary of borrowers with low credit scores.  Banks have spent much of the past 10 years chasing creditworthy borrowers. That slice of the market, which has grown as the economy has improved, is largely tapped out.

All this has lead to lenders asking credit-reporting firms and FICO to figure out a way to help them boost lending without taking on significantly more risk. And regulators have expressed interest in exploring ways to increase access to affordable lending for consumers who have no or low credit scores.

This is an interesting fact – Of all the U.S. consumers with FICO credit scores, a record 58.2% have a score of 700 or higher on a scale that tops out at 850. The average FICO score is at a record 704.   FICO said about seven million applicants who have low credit scores as a result of thin borrowing histories would likely see their scores improve under the new system. Separately, some 26 million subprime borrowers will end up with higher credit scores, FICO said, with nearly four million seeing an increase of at least 20 points.

UltraFICO is the latest in a recent series of changes by credit-reporting and -scoring firms that are helping boost consumers’ credit scores.

Are you ready to buy or sell a home? Do you have a need for commercial / industrial / retail space? We can help you with that… just call us at 702 SELL NOW or click on this link to my website http://www.702SellNow.com

Choose to have an amazing day….Jeff

Why are so few people in Las Vegas interested in meeting their neighbors?

This is a question that if you have an answer or comment to I would love to hear from you.

I know it is a different world than when I grew up.  I was lucky enough to grow up in a neighborhood were we used to have a block party on my street every so often and probably 17 out of about 25 houses would participate…It was so much fun getting to know the neighbors (not just the kids) on the block and we looked out for each other.

Fast forward to the present day in Las Vegas – I throw our annual BBQ for Ridgebrook, (the neighborhood I live in) which has just over 450 houses, and I know many of the people here – only about 6-8 households are ever represented at the BBQ – so sad since this is a very safe way to meet members of the community.  Also add another circle of friends for you and your kids – it is very comforting to have people you know and trust living near you.

I moved to our wonderful city of Las Vegas in 1993 when it was much smaller – even then I noticed some neighbors would not even wave hi when I would drive by. I have a friend that moved here from New York City and told me that she always had interaction with the people that lived in the same coop building and said she would see the same people on the bus she took to work and would chat with these people on the way to work (and they say New Yorkers are not friendly).

When I moved into the neighborhood of Ridgebrook and invited the closest 15 houses over to meet the new neighbors (us) – only 4 households showed up…

My questions are – Was the neighborhood I grew up in odd? Do people just not do that in the rest of the world? Or have times changed that much?

I would love to get your [the reader’s] opinion.  Prove me wrong – I’ll bet if you aren’t interested in waving to me on the street, or joining our annual neighborhood BBQ, you probably aren’t interested in telling me why, either, but I’ll ask.

Comment below please:

Are you ready to buy or sell a home? Do you have a need for commercial / industrial / retail space? We can help you with that… just call us at 702 SELL NOW or click on this link to my website http://www.702SellNow.com

Choose to have an amazing day….Jeff

The Influence of American Ninja Warriors

In my opinion the TV show American Ninja Warrior is the most inspiring reality show and it has changed the way many people look at exercise.

Of course, most of us are not at the level of the athletes we see run the course – however I know many people that have gotten up from their couches and started some sort of exercise because of it.  It could be walking, swimming, class exercises, private instruction or even building parts of a ninja course in your garage or backyard.  There are some gyms that have built these types of obstacles just for the purpose of “ninja” exercise.

My son is one of those people that wants to compete on American Ninja Warrior and can’t wait until he is old enough.  He trains on “ninja” obstacles and I must say I am very proud of his goal (and maybe a little jealous as well).

The one thing to remember is – you shouldn’t go from the couch to the course.  First you should train to get into better physical shape before attempting any ninja-like exercises.  He works out at a gym named Camp Rhino that has a very comprehensive program for adult ninja training (and Saturday classes for kids too).  You might want to try this type of gym before you build an obstacle course in your backyard or garage.

Climbing is a big part of ninja training so you just might want to build a rock wall with a variety of holds screwed in.  You can also have a slack line for balance and other obstacles to train on – getting your upper body strong is essential for doing a ninja course. (Don’t forget to get adequate pads underneath you as well).

There are a few competitors my age, it’s true, but I’m not likely to pursue it, however in my dreams, I crush the course and hit the buzzer too.

Are you ready to buy or sell a home? Do you have a need for commercial / industrial / retail space? We can help you with that… just call us at 702 SELL NOW or click on this link to my website http://www.702SellNow.com

Choose to have an amazing day….Jeff

The Pioneer Saloon in Goodsprings NV – The oldest (and possibly the coolest) bar in Clark County

There is this incredible saloon about 30 miles south of the 215 just off the I-15 it’s the Pioneer Saloon in Goodsprings. Exit right when you get to the Terrible’s Hotel & Casino (formerly the Gold Strike) then drive up the hill toward the setting sun and veer right at the fork in the road. Moments later you’ll find the Pioneer Saloon; a place that is a throwback to the days of yesteryear – it’s the location of gunfights and ghost sightings, movie shoots, and video games. I first discovered the place in 2012, when I went for a glider ride in Jean for my birthday (another thing I recommend). The pilot asked us if we had ever been there and said it was a “must see”. He told us it was the oldest continuously operating bar in Clark County… who could resist that. So, when we landed, we headed west towards Sandy Valley.

What a wonderful discovery! The Pioneer Saloon was built in 1913 by local businessman George Fayle. It was formed out of stamped tin from the Sears Roebuck Company—and looks like something out of a ghost town or Western flick with its false front and porch of well-worn boards.  The brass rail at the foot of the bar and the potbelly iron stove are both original. If you look beside the stove, you’ll see a few old bullet holes, the result of a long-ago fight over cheating at cards. The Pioneer is known for having wet many a thirsty miner’s whistle.  The Pioneer may be the nation’s oldest stamped-metal building still standing.

The legend of Clark Gable and Carol Lombard is part of the Pioneer’s history. In 1942, Lombard was flying back to Los Angeles after a tour selling war bonds and her plane crashed into nearby Mount Potosi. As a team struggled to recover her body from the isolated crash site, Lombard’s husband, Clark Gable, waited at the bar in Goodsprings, drunk and inconsolable.  Some people say they feel the two Hollywood stars presence there.

 

The saloon has been featured on TV shows such as Ghost Adventures and made it the site of meet-ups for fans of the paranormal. The Pioneer possesses other movie screen connections as well. It was featured in The Mexican, Miss Congeniality 2, and Cheech & Chong’s Up in Smoke, as well as a scene from Fear and Loathing in Las Vegas that got cut out of the movie. It has also manifested as the “Prospector Saloon” in the video game Fallout: New Vegas.

Now in its second century, the Pioneer Saloon remains a beloved watering hole for both locals and visitors from around the world. It’s a popular spot for motorcycle riders as well as star gazers who appreciate the dearth of artificial light. The bar now offers a menu of sandwiches and burgers (try the ghost burger) as well as breakfast. Entertainment is provided by a jukebox, karaoke, and live bands, but the atmosphere of the Pioneer Saloon is certainly enough. I won’t recount all the fun I have had there, but suffice it to say, there have been many memorable moments for my friends & I; including the time we were joined by someone in a random chicken suit, (for no apparent reason)!

Check out the Goodsprings General Store – it’s next to the Pioneer Saloon.  At one time it was the Goodsprings Cafe that served many hungry miners three meals a day. Today it still feeds the locals of Goodsprings, not as a cafe, but it supplies all of the staple foods, like milk, butter, eggs, cheese, meats, and much more. It also has a full line of gourmet foods and chocolates, as well as grilling supplies and a full range of souvenirs.

For information about the Pioneer Saloon go to http://www.pioneersaloon.info.  It’s an eclectic place that you will want to take friends to.

Are you ready to buy or sell a home? Do you have a need for commercial / industrial / retail space? We can help you with that… just call us at 702 SELL NOW or click on this link to my website http://www.702SellNow.com

Choose to have an amazing day….Jeff

Hooray it’s Fall in the Las Vegas Valley- Go Outside and have fun

Paseo Trails

The fall season is probably the best season weather-wise in Southern Nevada.  The master-planned community of Summerlin offers more than 230 parks and 150 miles of hiking, walking and bike trails for residents to enjoy.

Many of the parks offer sports fields.  There are basketball, tennis and volleyball courts; baseball, football and soccer fields plus swimming pools.  For the kids in your life, there are many playground areas.  Golfers are offered 9 golf courses to play on – most of these courses are public.

The parks are sprinkled throughout the villages of Summerlin that sits on over 22,500-acres of land.  Most Summerlin neighborhoods also have small pocket parks that contribute to the Summerlin park system. For more information about each park click on this link –http://link.summerlin.com/park.

As of 2018, the Summerlin Trail System is more than 150 miles long and connects local neighborhoods to various amenities throughout the community. The system includes five types of planned trails: street-side, village, bike, regional, and natural.

Upon completion, the trail system will be more than 200 miles long and will connect to more than 2,000 miles of regional trails, making it one of the most comprehensive and efficient trail systems in the southwestern United States.

In 2008, Summerlin along with the Howard Hughes Corp. received the American Trails Developer Award, which is given to developers in recognition of “quality, well designed multi-use trails systems that are integrated into private developments.”

Red Rock Canyon National Conservation Area, adjacent to Summerlin offers 26 hiking trails ranging in difficulty from easy to strenuous. The canyon is also suitable for bouldering and rock climbing and has an overnight camp site.

So grab your family and take them for a picnic in one of the many beautiful parks or take a trail and hike or bike – the exercise is good for you.

Are you ready to buy or sell a home? Do you have a need for commercial / industrial / retail space? We can help you with that… just call us at 702 SELL NOW or click on this link to my website http://www.702SellNow.com

Choose to have an amazing day….Jeff

 

I Stay Positive Most of the Time… However

I really hate seeing litter and cigarette butts all over the streets of Las Vegas (and other places it doesn’t belong)!

I don’t understand why some people feel it’s OK to litter! Why can’t they throw their garbage and cigarette butts in a trash container when outside.  Do they treat their own homes that way – leaving trash wherever it drops?  It’s disgusting! Oh, and if you say something to them (and I do) then you are the jerk, not them…

Come on – we live in a community and you are annoying the heck out of your neighbors when you have a cigarette and throw it out the window of your car or stomp it out on the ground and let it blow in the wind and wind up in someone else’s yard (or worse). Clean up your own mess – get an ash tray that has a cover.

I want to show off many areas of Las Vegas when people come to visit and there is nothing worse to go to let’s say Downtown Summerlin and see cigarette butts all over the street.  There are plenty of trash containers in Downtown Summerlin.  Think of it as a little exercise – bend down pick up your butt and walk it to the proper receptacle – you might feel good about having some pride in where you live.

Plus you are setting a good example for the next generation (I don’t mean smoking) by picking up any litter you happen to see.  It shows pride and thoughtfulness and a good lesson for everyone to learn.

I had a friend years ago tell me the reason that he litters is “to create jobs”; then someone must get paid to pick it up. That’s just crazy talk as far as I’m concerned.

We are all responsible for keeping this planet beautiful – just do your part & pick up after yourself. I know it’s easier to throw it out the window, butt (pun intended) have a little bit of class… please… and if you see some trash on the ground – pick that up too.

Are you ready to buy or sell a home? Do you have a need for commercial / industrial / retail space? We can help you with that… just call us at 702 SELL NOW or click on this link to my website http://www.702SellNow.com

Choose to have an amazing day….Jeff

 

Did Al Davis Way replace Dean Martin Drive?

Have you seen all the construction on the new Raiders stadium on Russell Road?  It looks like they are working round the clock for the stadium to be ready for the 2020 football season and the team’s move to Las Vegas.

Plus Al Davis is getting a street named after him – the address of the stadium will be 3333 Al Davis Way.  The original address was 5617 Dean Martin Drive – and no Dean Martin Drive is not going away. There is a small road that notches into the northeast corner of the lot which didn’t have a name. It was simply a connector road between Aldebaran Avenue and Dean Martin Drive.  That connector road is now Al Davis way.

Al Davis, of course, was the Managing General Partner of the Raiders for nearly 50 years. He was an NFL pioneer and was the face of the Raiders as well as its voice and keeper of the Raider mystique. The stadium should absolutely be located on a street bearing his name.

Here is a bit of history of the soon to be Las Vegas Raiders.  The team was established on January 30, 1960; 58 years ago and played their first season in 1960 in Oakland at the Alameda County Coliseum and stayed in Oakland through 1981.  At that time the team moved to Los Angeles in 1982 and stayed there until 1994 when they moved back to Oakland.  In 2020 they are expected to open the season in their new stadium here in Las Vegas.

The team’s first three years of operation was a little shaky with poor on-field performance, financial difficulties, and spotty attendance. In 1963 things started turning around with the introduction of head coach (and eventual owner) Al Davis. In 1967 the Raiders reached the postseason for the first time. The team would go on to win its first and only AFL Championship that year. Al Davis owned the team from 1972 until his death in 2011. Control of the franchise was then given to Al’s son Mark Davis.

In the years between 1967 and now the Raiders won 3 Super Bowls – 1976, 1980 and 1983.  On March 27, 2017, NFL team owners voted nearly unanimously to approve the Raiders’ application to relocate from Oakland to Las Vegas, Nevada, in a 31-to-1 vote at the annual league meetings in Phoenix, Arizona. The Raiders plan to remain in Oakland through 2018 – and possibly 2019 – and relocate to Las Vegas in either 2019 or 2020, depending on the completion of the team’s planned new stadium.

Are you ready to buy or sell a home? Do you have a need for commercial / industrial / retail space? We can help you with that… just call us at 702 SELL NOW or click on this link to my website http://www.702SellNow.com

Choose to have an amazing day….Jeff