First “Firefox OS” Phones Previewed, to Launch in February






Mozilla, the non-profit organization behind the popular Firefox web browser, has been promoting its Firefox OS project (once known as “Boot to Gecko”) for some time now. A hardware partnership with Telefonica, the international telecom giant, had been announced, but no phones had yet been unveiled.


But in an announcement today on its blog, Mozilla announced the impending launch of its first “developer preview” phones, the Keon and the Peak. Made in partnership with Geeksphone, a Spanish smartphone producer which used to make Android phones, these devices are meant to help app developers preview their work on the small screen. But they may also serve as a sneak preview of Mozilla’s plan to enter the smartphone market.






Introducing Firefox OS


Designed as an alternative to Google’s Android for low-powered smartphones, Firefox OS’ claim to fame is that it’s “built entirely using open web standards,” or open-source code written in the programming languages which make up the web, like JavaScript. Likewise, Firefox OS apps are websites specially formatted to look and feel like apps, and to respond to touchscreen controls and access phone features like vibration and the GPS.


A selection of Firefox apps is already available in the Mozilla Marketplace, but developers will eventually be able to take the open-source code behind it and create their own app markets like it if they so choose. These apps also run on the preview “Aurora” version of Firefox for Android, which is available for download from Mozilla’s website.


“Say ‘hola’” to the Keon and Peak


The Keon is Mozilla’s entry-level developer smartphone, while the Peak has somewhat more modern hardware specs.


The Keon has a 1 GHz Snapdragon processor, 512 MB of RAM, a 3.5-inch touchscreen, and 4 GB of flash memory, plus a microSD card slot to expand storage space. Its built-in camera is a basic 3-megapixel shooter, and lacks an LED flash. It’s roughly comparable to 2010′s iPhone 4 in terms of raw hardware specs, although it probably won’t be able to play the same kinds of 3D games since they’ll be written as web applications.


The Peak has a dual-core 1.2 GHz processor, a 4.3-inch IPS display, and an 8-megapixel camera with a flash, plus a 2-megapixel front-facing camera. It has the same amount of RAM and flash storage as the Keon does, though.


Both the Keon and the Peak are unlocked GSM smartphones, which may mean they will work on AT&T and T-Mobile’s networks in the States.


Pricing and availability


According to Peters, the “First phones will be available in February.” Prices have yet to be announced.


Jared Spurbeck is an open-source software enthusiast, who uses an Android phone and an Ubuntu laptop PC. He has been writing about technology and electronics since 2008.


Linux/Open Source News Headlines – Yahoo! News





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“Cyborg Foundation” wins $100K Focus Forward prize






LOS ANGELES (TheWrap.com) – Spanish director Rafel Duran Torrent has won the $ 100,000 cash prize in the Focus Forward Filmmaker Competition at the Sundance Film Festival. The awards, the most lucrative ever given to short documentaries, went to five different shorts, with the top one being Duran Torrent’s “Cyborg Foundation.”


The director will also be invited to a Sundance Institute ShortsLab program of his choice this year.






Runners-up were Jared P. Scott and Kelly Nyks for “The Artificial Leaf,” Paul Lazarus for “Slingshot,” Kim Munsamy for “Bones Don’t Lie and Don’t Forget” and Callum Cooper for “Mine Kafon.”


The program was launched at last year’s Sundance by Morgan Spurlock and Karol Martesko-Fenster. Focus Forward was run by Spurlock’s and Martesko-Fenster’s company, cinelan, and sponsored by GE.


The top films were chosen by a jury consisting of Sundance senior programmer Caroline Libresco, actress Daryl Hannah and directors Barbara Kopple, Jose Padilha, Joe Berlinger, Floyd Webb and Peter Wintonick.


The winning films and the 15 other finalists can be viewed on the Focus Forward website.


Movies News Headlines – Yahoo! News





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The New Old Age Blog: Study Links Cognitive Deficits, Hearing Loss

There’s another reason to be concerned about hearing loss — one of the most common health conditions in older adults and one of the most widely undertreated. A new study by researchers at Johns Hopkins Medicine suggests that elderly people with compromised hearing are at risk of developing cognitive deficits — problems with memory and thinking — sooner than those whose hearing is intact.

The study in JAMA Internal Medicine was led by Dr. Frank Lin, a hearing specialist and epidemiologist who over the past several years has documented the extent of hearing problems in older people and their association with falls and the onset of dementia.

The physician’s work is bringing fresh, and some would say much-needed, attention to the link between hearing difficulties and seniors’ health.

In his new report, Dr. Lin looked at 1,984 older adults who participated over many years in the Health ABC Study, a long-term study of older adults conducted in Pittsburgh and Memphis. Participants’ mean age was 77; none had evidence of cognitive impairment when the period covered by this research began. In 2001 and 2002, they received hearing tests and cognitive tests; cognitive tests alone were repeated three, five and six years later.

The tests included the Modified Mini-Mental State exam, which is administered through an interview and yields an overall picture of cognitive status, and the Digit Symbol Substitution Test, a paper-only exercise that asks people to match symbols and numbers, which can reveal deficits in someone’s working memory and executive functioning.

Dr. Lin found that annual rates of cognitive decline were 41 percent greater in older adults with hearing problems than in those without, based on results from the Modified Mini-Mental State Exam. A five-point decline on that test is considered a “clinically significant” indicator of a change in cognition.

Using this information, Dr. Lin found that elderly people with hearing problems experienced a five-point decline on the exam in 7.7 years, compared with 10.9 years for those with normal hearing.

Results from the Digit Symbol Substitution Test showed the same downward trend, though not quite as steep: older people with hearing loss recorded a yearly rate of cognitive decline 32 percent greater on it than those with intact hearing. In both cases, the results showed an association only, with no proof of causality.

Still, given the fact that nearly two-thirds of adults age 70 and older have hearing problems, it is an important finding.

For caregivers and older adults, the bottom line is “pay attention to hearing loss,” said Kathleen Pichora-Fuller, a professor of psychology at the University of Toronto who was not involved in the study.

Most people seek medical attention for hearing difficulties 10 to 20 years after they first notice a problem, she said, because “there’s a stigma about hearing loss and people really don’t want to wear a hearing aid.” That means years of struggling with the consequences of impairment, without interventions that can make a difference.

One consequence that may help explain Dr. Lin’s findings is social isolation. When people have a hard time distinguishing what someone is saying to them, as is common in older age, they often stop accepting invitations to dinners or parties, attending concerts or classes, or going to family events. Over time, this social withdrawal can become a self-fulfilling prophecy, leading to the loss of meaningful relationships and activities that keep older people feeling engaged with others.

A substantial body of research by cognitive scientists has established that seniors’ cognitive health depends on exercising both body and brain and remaining socially engaged, and “now we have this intersection of hearing research and cognitive research lining up and showing us that hearing health is part of cognitive health,” said Dr. Pichora-Fuller, who originally trained as an audiologist.

Family physicians and internists, too, often dismiss older patients’ complaints about hearing, and should pay close attention to Dr. Lin’s research, she said.

“I hope this study will be a wake-up call to clinicians that auditory tests need to be part of the battery of tests they employ to look at an older person’s health,” agreed Patricia Tun, an adjunct associate professor of psychology at Brandeis University.

Although the tests are effective and cause no known harm, a panel of experts recently failed to recommend them for older adults because of a lack of supporting evidence, as I wrote last August.

Another potential explanation for Dr. Lin’s new finding lies in a concept known as “cognitive load” that Dr. Tun has explored through her research. Basically, this assumes that “we only have a certain amount of cognitive resources, and if we spend a lot of those resources of processing sensory input coming in — in this case, sound — it’s going to be processed more slowly and understand and remembered less well,” she explained.

In other words, when your brain has to work hard to hear and identify meaningful speech from a jumble of sounds, “you’ll have less mental energy for higher cognitive processing,” Dr. Tun said.

Even seniors who hear sounds relatively well often report that words sound garbled or mumbled, she noted, indicating a deterioration in hearing mechanisms that process complex speech.

Also, as yet unidentified biological or neurological pathways may affect both speech and cognition. Or hearing loss may exacerbate frailty and other medical conditions that older people oftentimes have in ways that are as yet poorly understood, Dr. Lin’s paper notes.

A limitation to his study is its reliance, in part, on the Modified Mini-Mental State exam, which asks older adults to respond to questions posed by an interviewer, according to Barbara Weinstein, a professor and head of the audiology program at CUNY’s Graduate Center.

Her research has shown that hearing-compromised seniors may not understand questions and answer incorrectly, confounding results. Another limitation arises from the failure to test participants’ hearing over time, as happened with cognitive tests, making associations more difficult to tease out.

Dr. Lin hopes to address this through another research project that would follow older adults over time and test whether interventions such as hearing aides help prevent the onset or slow the progression of cognitive decline. In the meantime, older people and caregivers should arrange for hearing tests if they have concerns, and consider getting a hearing aid if problems are confirmed.

Getting sound to the brain is the “first and most important step” in preventing sensory deprivation that can contribute to cognitive dysfunction, said Kelly Tremblay, a professor of speech and hearing science at the University of Washington.

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Prosecutors: Peregrine Financial fraud loss exceeds $215M









Peregrine Financial Group's former chief executive stole more than $215 million from customers of his now-defunct futures brokerage and should be sentenced to the maximum 50 years in jail, U.S. prosecutors said Tuesday.

Russell Wasendorf Sr., 64, who founded the firm, has pleaded guilty to embezzlement but wants a lighter sentence, saying that the loss was less than $200 million and that he used "very basic, simple means" to carry out his fraud, according to documents filed by U.S. prosecutors.

Wasendorf, whose attempted suicide sent his firm into bankruptcy last July, is in jail in Iowa and will be sentenced Jan. 31.

U.S. prosecutors say the large loss, the sophisticated nature of the crime and the sheer number of victims -- more than 10,000 -- justify his spending the rest of his life behind bars.

"While some of defendant's individual acts might be characterized as simple in isolation, they were part of an exceedingly complex scheme whereby defendant's entire business was used as a mechanism to gather and purloin investor funds," prosecutors said in their sentencing memorandum, promising to fight any attempt by Wasendorf to receive a sentence of less than 50 years.

Prosecutors put the exact loss at $215,530,547, based on Peregrine's bank records, and will call Brenda Cuypers, the firm's chief financial officer, as a witness at the sentencing hearing next week.

They had previously pegged the embezzlement only at "more than $100 million," to which Wasendorf pleaded guilty.

Wasendorf's public defender has a policy of declining to comment on cases, and did not reply to an email from Reuters seeking comment.

The collapse last July of Peregrine Financial, known as PFGBest, dealt a blow to confidence in the U.S futures industry, already reeling from $1.6 billion hole in customer pockets left when giant brokerage MF Global failed nine months earlier.

Futures traders had never before suffered such large losses as a result of a brokerage failure.

"To see (Wasendorf) go to jail could give some people some hope," said James Koutoulas, co-head of the Commodity Customer Coalition, which fought to get customer money back in both bankruptcies. "In MF Global, justice hasn't been done."

No one has been charged with wrongdoing in MF Global's collapse.

Regulators have scrambled to patch perceived gaps in customer protections at brokerages and exchanges that handle contracts valued at some $2.5 trillion a day.

That figure is set to rise as new rules push over-the-counter swaps onto regulated trading venues.

The sentencing memorandum offers new details in the government's account of the fraud, which Wasendorf said in a July statement began in the early 1990s after he was hounded by an overzealous regulator.

The fraud began even earlier, prosecutors said in Tuesday's filing, when he stole at least $250,000 from customers' accounts to pay back the original financier of his brokerage, a person referred to in the document only by the initials "J.C."

"Using a copy machine, defendant fabricated a bank statement to conceal the theft of funds," the document said. For the next nearly 20 years, prosecutors said, he faked bank balances, fabricated deposits, and used a rented post office box in Cedar Falls, Iowa, to intercept letters from his auditors meant to check up on his balances at U.S. Bank.

He even went so far as to fly from Chicago, where his firm did most of its business, to Iowa to prevent the near-discovery of his fraud, ultimately convincing Peregrine and U.S. Bank employees that nothing was wrong, the document said.

All the while he worked to make Peregrine Financial seem much bigger and more successful than it was, they said.

Wasendorf believed that "if he could make himself appear rich, the auditors and regulators wouldn't be concerned with the state of his personal finances and not discover it was all a fraud," prosecutors quoted Wasendorf as saying in a sealed presentencing report.

But Peregrine was never actually profitable, even though by its demise investors had entrusted more than $376 million to him and his firm, they said.

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Single-digit freeze continues; wind chills at dangerous levels

Chicago's morning weather forecast. ( WGN - Chicago)









Brace yourself and bundle up.

After a night when temperatures dipped to the low single digits, "they're not going to move a whole lot today," said Mark Ratzer, a meteorologist with the National Weather Service.






Temperatures may not break 10 degrees today, Ratzer says, and if they do, it won't be by more than a degree or two. A wind chill advisory issued Monday remains in effect until 10 a.m. this morning.

At 8 a.m., it was minus 1 degree at O'Hare International Airport, with a wind chill of minus 14. This is the first time since Feb. 10, 2011 that a subzero temperature has been recorded in Chicago. The streak of 711 consecutive days without a subzero temperature was the fourth longest on record, according to Richard Castro, also a meteorologist at the weather service.

If there's good news, it's that the wind won't be quite as strong as it was Monday when wind chills plummeted into the negative teens.

It won't be as cold as it was on Jan. 22, 1936, when a low temperature of 17 degrees below zero set Chicago's all-time record.

That's about where the good news stops. The cold will linger for several days, and temperatures are not expected to top 32 degrees until early next week, Ratzer said.

The overnight low of 4 degrees was the coldest since Feb. 10, 2011, when aided by a heavy snow cover, temperatures dipped to 9 below zero.

Over a 30-year period, the average temperature high for Jan. 22 is 31 degrees and the average low is 16.

Authorities reported no overnight deaths from the cold, though today's temperatures remain dangerous for anyone spending prolonged periods outdoors.

At least seven people in Cook County have died from causes related to the cold this season.

asege@tribune.com

Twitter: @AdamSege

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I Might Be Too Old for Facebook Graph Search






On Sunday, I turned 30.


That’s not too old, I tell myself, yet the signs of aging are creeping in. Teenagers listen to music that I either haven’t heard of or believe to be mostly terrible. They use slang I don’t recognize, and I imagine my slang would sound to them like “groovy” or “far out” sound to me.






But for the purposes of our tech blog, the most notable sign is how much more active teens are on Facebook than I am. To hear it from my wife, who works with children and teens at her job, they’re constantly signed in and active, to the point that reaching them by voice call is unreliable. Send them a Facebook message, even during school hours, and they’ll respond right away. (The reality isn’t quite that extreme; according to a Pew survey, most teens communicate through text messages and phone calls more than Facebook, but e-mail is far behind.)


So when Facebook announces a new feature, like Graph Search, I imagine those teens getting the most use out of it. Graph Search lets you look up people, places, photos and other things using natural search queries. Think of it like Google for everything that your friends know; instead of searching the Web for somewhere to eat or something to do, you could just search through the collective wisdom of your network.


Here are some of the example searches on Facebook’s Graph Search home page:


  • Music my friends like

  • Restaurants in London my friends have been to

  • People who like cycling and are from my hometown

  • Photos before 1990

Being able to find all that information–and provide your own information for friends–sounds great. But unless you and your pals are putting lots of data in, you’re probably not going to get a lot of data out. I know for sure that I haven’t put much effort into connecting my real life story to Facebook, and as I poke around my network, I see that many of my friends haven’t either. They don’t check in to places they visit. They don’t “Like” everything that they actually like. They haven’t uploaded photos from before 1990. Collectively, we haven’t invested in making Graph Search as useful as it could be.


It might be different if I was part of the generation that uses Facebook more often. Though it’s hard to find data on how Likes and check-ins vary by age, younger users tend to have more Facebook friends than older ones, according to Edison Research, so at least they have a bigger base of people to work with. And according to a 2011 study, teens spend more time on the network per day than older users. If posting on Facebook is part of your social circle’s daily life–that is, it’s not just a way to see what old high school buddies are up to–I imagine Graph Search will be a lot more useful.


That’s not to say Graph Search won’t be of any value to someone like me. It could come in handy as a way to sort through photos, for instance. There’s also a chance that Facebook will improve the ways that it picks up on our interests, and integrate frictionless sharing so there’s less work involved in becoming an information source.


But while I plan to keep up with technology for a long time, I realize it’s hard to keep using social networks like a teenager when your friends are getting older too. Facebook isn’t part of my daily life anymore, so I can’t imagine rewiring my habits and turning it into a primary information source, especially if my friends aren’t doing the same.  It’s much easier to rely on the tools I already have, such as traditional search engines and sites like Yelp–just like it’s easy to stop keeping track of popular music or to pick up on new slang.


Graph Search is in “very limited” beta now, and users who want to try it can join the waiting list. I look forward to seeing what I can do with it, even if it’s not really for me. In the meantime, here’s to growing older.


Social Media News Headlines – Yahoo! News





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Michelle Obama wears Wu to the balls again






WASHINGTON (AP) — Michelle Obama made it a fashion tradition Monday night, wearing a custom-made Jason Wu gown to the inauguration balls. The ruby-colored dress was a follow-up to the white gown Wu made for her four years ago when she was new to Washington, the pomp and circumstance, and the fashion press.


She now emerged in velvet and chiffon as a bona fide trendsetter.






“I can’t believe it. It’s crazy,” said Wu, reached at his Manhattan studio. “To have done it once was already the experience of my life. To have a second time is tremendous.”


President Barack Obama also struck a similar style chord to his first-term inaugural balls: He wore a white tie with his tuxedo.


The red halter dress was the only one Wu, who went from fashion insider to household name on this night in 2009, submitted for Mrs. Obama’s consideration. He collaborated with jeweler Kimberly McDonald on the jeweled neckline. “For this occasion, it had to be real diamonds,” Wu said.


He said he felt the dress showed how he has grown up as a designer — and how Mrs. Obama’s style has evolved to be even more confident.


The first family headed out to inaugural festivities earlier on Monday with Mrs. Obama leading a very coordinated fashion parade in a navy-silk, checkered-patterned coat and dress by Thom Browne that were inspired by a menswear necktie.


The outfit was specifically designed for Mrs. Obama, but Browne said he wasn’t 100 percent sure she was going to wear it until she came out with it on at Inauguration. “I am proud and humbled,” he said.


The rest of Mrs. Obama’s Inauguration Day outfit included a belt from J. Crew, necklace by Cathy Waterman and a cardigan by Reed Krakoff, whose ensemble she also wore to yesterday’s intimate, indoor swearing-in ceremony.


Obama wore a blue tie with his white shirt, dark suit and overcoat. Malia Obama had on a plum-colored J. Crew coat with the hemline of an electric-blue dress peeking out and a burgundy-colored scarf, and her younger sister Sasha had on a Kate Spade coat and dress in a similar purple shade.


“It is an honor that Sasha Obama chose to wear Kate Spade New York,” said the company’s creative director, Deborah Lloyd, in an email to the Associated Press. “She epitomizes the youthful optimism and colorful spirit of the brand. We are so proud to have been a part of this historic moment.”


Jenna Lyons, creative director of J. Crew, said it was “a huge point of pride for all of us” to be a part of the day — as the brand was back in 2009 when the girls wore outfits by CrewCuts, its children’s label.


“It’s amazing to see the evolution of the family. I love the way Michelle looks. She looks beautiful in something so clean and tailored. It’s such an elegant choice,” Lyons said, “and they all look so sophisticated! You can see how the girls have grown up in the four years, and they’re still so alive and vibrant, but more sophisticated.”


The vice president’s wife, Jill Biden, wore a gray coat and dress by American designer Lela Rose.


Mrs. Obama has worn Browne’s designs for other occasions, including a gray dress with black lace overlay to one of the presidential debates last fall, and she honored him last summer at the Smithsonian’s Cooper-Hewitt National Design Awards for his contribution to fashion.


Browne made his name in modern — very modern — menswear, but he launched womenswear in 2011. He was in Paris on Monday, just finishing previews for his next menswear collection. The idea to use the tie fabric came to him because he was indeed designing these men’s clothes at the same time, he explained.


“I wanted ‘tailored’ for her. For me, she stands for strength and confidence, and that’s what I wanted to design for her,” he said.


Simon Collins, dean of the school of fashion at Parsons The New School for Design in New York, said the Obamas dressed in their typical fashion: one that shows pride in their appearance.


“They are a stylish couple and their children look fabulous. Too many people get dressed in the dark,” he said. “They show it’s good to dress up, take pride in how you look. … It’s a wonderful example for America and the rest of the world.”


He also noted that the Obamas seem to understand that the fashion industry is a driving force in the U.S. economy and that its lobby is a powerful one. They don’t treat fashion frivolously, he observed.


The first lady “is so supportive of so many American designers,” Browne noted.


But Collins said he was a bit surprised the public doesn’t pay much attention to the president’s wardrobe. He joked that Obama should perhaps try one of Browne’s signature shrunken suits — the ones that show a man’s ankles.


At the end of the Inaugural festivities, Mrs. Obama’s outfit and accompanying accessories will go to the National Archives.


___


Samantha Critchell tweets fashion at (at)AP_Fashion, and can be reached on Twitter at (at)Sam_Critchell.


Entertainment News Headlines – Yahoo! News





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The New Old Age Blog: The Brutal Truth of 'Amour'

It has been a few days since I left the movie theater in a bit of a daze, and I’m still thinking about “Amour.”

So much of this already much-honored film rings utterly true: the way a long-married Parisian couple’s daily routines, their elegant life of books and music and art, can be upended in a moment. The tender care that Georges (Jean-Louis Trintignant) provides for Anne (Emmanuelle Riva) as multiple strokes claim her body and her mind, and the inexorable way that care wears them both down. Their withdrawal into a proud dyad that seeks and accepts little help from outsiders, even family. “We’ve always coped, your mother and I,” Georges tells their daughter.

The writer and director Michael Haneke’s previous movies, which I haven’t seen, tend to be described as shocking, violent, even punitive. “Amour,” which Times critic Manohla Dargis called a masterpiece, includes one brief spasm of violence, but the movie remains restrained, not graphic. It’s brutal only because life, and death, can be brutal.

Is popular culture paying more attention to aging and caregiving? In the last couple of years, I have written about these subjects surfacing in a YouTube series (“Ruth & Erica”), in movies like “The Iron Lady,” in novels like Walter Mosley’s “The Last Days of Ptolemy Grey.”

A couple of weeks back, watching a play called “The Other Place,” starring the remarkable Laurie Metcalfe, I suddenly realized that the dynamic physician and businesswoman onstage had some sort of early-onset dementia. Dementia seems a particularly popular subject, in fact. Intrinsically dramatic, it suffuses the Mosley novel and Alice LaPlante’s “Turn of Mind,” and some of my favorite movies about aging, “Away From Her,” “Iris” and “The Savages.”

“Kings Point,” Sari Gilman’s compelling documentary about a retirement community in Florida where nobody seemed to expect to grow old, just won an Oscar nomination for best short-subject documentary and will be shown on HBO in March. And “Amour,” which won the Palme d’Or at Cannes, is up for five Academy Awards, including best picture, best director and a best actress nomination for the 85-year-old Ms. Riva. (Academy voters: Just give it to her.)

A number of these artists, Mr. Haneke included, have spoken about their own experiences with aged relatives. Perhaps, as the population ages and more people confront the consequences, the stories our culture tells itself have evolved to include more old people, more caregivers. Or maybe I just want that to be true.

“Do not go see this,” my movie-going buddy had been warned, probably because her mother has dementia and friends who had seen the film wanted to spare her. I know some people found “Amour” too slow-paced or claustrophobic — like many elderly couples’ lives, it basically takes place in four rooms — or too grim. (If you’ve seen it, tell us what you thought.)

If you’re a full-time caregiver or you’re coping with a relative with dementia, perhaps you would prefer to spend your 2 hours 7 minutes of precious time off watching something funny. Escapism has its virtues.

But I found “Amour” unflinching and provocative and beautiful.

Paula Span is the author of “When the Time Comes: Families With Aging Parents Share Their Struggles and Solutions.”

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Area home sales up 19% in December









More than 7,000 consumers in the Chicago-area bought themselves a home last month, the best finish for the year since December 2006, just before the local housing market's bubble burst.

December sales of existing homes in the nine-county area rose 19.2 percent from a year ago, to 7,372 single-family homes and condominiums sold, the Illinois Association of Realtors reported Tuesday. The median price of $151,500 recorded for the month rose 4.5 percent, from $145,000 in December 2011.

In terms of volume, it was the best monthly performance for the market since December 2006, when 7,530 homes were sold. While it showed improvement, that $151,500 median price for the month was far below the December 2007 market high of $247,800.

Pricing recovery was even more evident within the city of Chicago, which recorded a 14.6 percent year-over-year increase in sales, to 1,806 properties sold at a median price of $185,000, up 19.4 percent from December 2011's $155,000.

The pricing improvement is largely a result of the continued shrinking inventory of quality homes on the market, which for months has meant homes are going under contract faster than they have in the past. Sellers of choice properties, whether they are in the traditional market or foreclosures, are fielding multiple offers from potential buyers.

"The 18.9 percent decrease in market time from the same time in 2011 shows a continued clearing of inventory, of both single-family homes and condominiums, which should prompt action among buyers and sellers and continue to promote home price stabilization," said Zeke Morris, president of the Chicago Association of Realtors.

For the year, 90,365 homes were sold in the Chicago area, a 26.7 percent increase from 2011, while the median price slipped 1.5 percent, to $160,000. In the city, the annualized median price rose 5.7 percent, to $185,000, for the 22,333 homes sold, a gain of 22.4 percent in sales volume.

According to the Federal Home Loan Mortgage Corp., the average commitment rate for a 30-year, fixed-rate mortgage in the Chicago area was 3.32 percent in December, compared with 3.33 percent in November and 3.94 percent in December 2011.

mepodmolik@tribune.com | Twitter @mepodmolik

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Union: Deal reached between Grayslake schools, teachers




















A teachers strike is now over in far north suburban Grayslake after negotiators reached an agreement overnight. ( WGN - Chicago)




















































School and union officials in north suburban Grayslake have reached a tentative agreement that will end the teacher's strike there, the union and school district announced Monday.


After negotiations failed to yield an agreement on a new contract, the teachers' union called for a strike that began last Wednesday.


Early this morning, officials from Community Consolidated School District 46 and the teachers' union issued a brief joint statement announcing a tentative deal, according to Dave Comerford, a spokesman for the teachers union. The school district said it would be a two-year contract.

Schools will reopen Tuesday, according to the statement shared by Comerford, but the agreement remains subject to union ratification and Board of Education approval.








The school district announced the tentative agreement on its web site, saying that classes at the district's schools will resume Tuesday after the already scheduled day off today for the Martin Luther King holiday.


On the website, the district said it would not share details of the contract until it is ratified by both the union and the school board.


chicagobreaking@tribune.com


Twitter: @ChicagoBreaking






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