Best October in 6 years for area home sales









The Chicago area's housing market last month regained the momentum it lost in September, resulting in more homes being sold than in any October since 2006.

Sales of existing single-family homes and condominiums in the nine-county Chicago area totaled 8,326 properties in October, according to figures released Monday by the Illinois Association of Realtors. While below some of the monthly sales totals recorded earlier in the year, the volume was an increase of 11.3 percent over September and 44.1 percent higher than the 5,776 homes sold in October 2011.

Within the city of Chicago, 2,009 homes were sold in October, an improvement of 8.8 percent over September and up 53.1 percent from October 2011. Condos accounted for 60 percent of the city's sales volume.

The strong sales continue to remove excess inventory for the market, which is necessary before price appreciation can truly begin. The number of homes listed for sale is at its lowest point in five years, according to Midwest Real Estate Data LLC, the local multiple listing provider. 

Meanwhile, the number of pending home sales in the Chicago area, meaning properties that are under contract but the sales have not yet closed, totaled 10,364 in October, the highest it's ever been except for April 2010 when home sales were affected by federal homebuyer tax credit programs.

For the Chicago area as a whole, the median price of a home was $153,000, the lowest it's been since March but still ahead 2.1 percent from October 2011's $149,900.  Among local counties, DuPage County was one of those that saw double-digit, year-over-year monthly appreciation, rising 11.4 percent in October, to $195,000.

Within the city, the median price rose to $175,000, up 8 percent from a year ago but again, the lowest monthly price recorded since March. In the condo market, the median price fell 8.7 percent from September, to $210,000. However, that sum was a 13.5 percent increase from October 2011.

Last month, 43 percent of sales within the city were either foreclosures or short sales.


The median is the point at which half the homes are sold for more and half for less.

"There's a great deal of end-of-the year excitement," said Zeke Morris, president of the Chicago Association of Realtors. "Typically our numbers are down in the fourth quarter but we're beginning to catch up to other markets in Illinois."

Geoffrey J.D. Hewings, a University of Illinois economist, attributed the improved sales performance to a slowly improving economy, stronger consumer confidence and continued low mortgages rates.

The monthly average commitment rate for the benchmark 30-year, fixed-rate mortgage in the Chicago area was 3.36 percent in October, compared with 3.49 percent in September and 4.07 percent in October 2011, according to the Federal Home Loan Mortgage Corp. Last week, Freddie Mac said average mortgage rates hit a new all-time low in its weekly survey, of 3.34 percent for a 30-year, fixed rate mortgage.

mepodmolik@tribune.com | Twitter @mepodmolik



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Notre Dame No. 1 in AP, coaches polls









Notre Dame is, officially, the No. 1 team in the country.

According to almost everyone.

The Irish were a unanimous pick for No. 1 in the new Associated Press poll released Sunday. And while they also landed at No. 1 in the USA Today coaches poll, they earned 56 of 59 first-place votes in doing so.

It's the first time Notre Dame (11-0) is the AP No. 1 since November 14, 1993.

Alabama received two votes and Georgia received one in the coaches' balloting, which is one of two human polls (the Harris poll is the other) that is part of the Bowl Championship Series formula. Notre Dame went 60-for-60 on the AP ballots, for the record.

Still, despite a trickle of holdouts, there should be no issue with Notre Dame landing at No. 1 in the BCS standings released later Sunday and therefore putting themselves just one win at USC away from a berth in the national title game.

None of this was even possible until cataclysm struck Oregon and Kansas State late Saturday, with the Ducks losing in overtime to Stanford and the Wildcats getting thrashed at Baylor.

Alabama and Georgia run No. 2 and No. 3 in both polls released Sunday and also are expected to fill those slots in the BCS standings. Thus an Irish win at USC likely pits them against the winner of the presumed Crimson Tide-Bulldogs matchup in the SEC championship game.

Meanwhile, the last time Notre Dame and Alabama were ranked No. 1 and No. 2 in the AP poll? The year of 1967.

bchamilton@tribune.com

Twitter @ChiTribHamilton



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Exclusive: Facebook offering e-retailers sales tracking tool

SAN FRANCISCO (Reuters) - Facebook Inc wants more credit for making online cash registers ring.


Facebook will begin rolling out on Friday a new tool which will allow online retailers to track purchases by members of the social network who have viewed their ads.


The tool is the latest of the new advertising features Facebook is offering to convince marketers that steering advertising dollars to the company will deliver a payoff.


Facebook, with roughly 1 billion users, has faced a tough reception on Wall Street amid concerns about its slowing revenue growth.


"Measuring ad effectiveness and outcomes is absolutely crucial to all types of businesses and marketers," said David Baser, a product manager for Facebook's ads business who said the "conversion measurement" tool has been a top customer request for a long time.


The sales information that advertisers receive is anonymous, said Baser. "You would see the number of people who bought shoes," he said, using the example of an online shoe retailer. But marketers would not be able to get information that could identify the people, he added.


The conversion tool is specifically designed for so-called direct response marketers, such as online retailers and travel websites that advertise with the goal of drumming up immediate sales rather than for longer-term brand-building.


Such advertisers have long flocked to Google Inc's Web search engine, which can deliver ads to consumers at the exact moment they're looking for information on a particular product.


But some analysts say there is room for Facebook to make inroads if it can demonstrate results.


"The path to purchase" is not as direct on Facebook as it is on Google's search engine, said Debra Aho Williamson, an analyst with research firm eMarketer. But she said that providing information about customer sales conversion should help Facebook make a stronger case to online retailers.


"It lets marketers track the impact of a Facebook ad hours or days or even a week beyond when someone might have viewed the ad," said Williamson. "That allows marketers to understand the impact of the Facebook ad on the ultimate purchase."


Marketers will also have the option to aim their ads at segments of Facebook's audience with similar attributes to consumers that have responded well to a particular ad in the past, Baser said.


Online retailer Fab.com, which has tested Facebook's new service, was able to reduce its cost per new customer acquisition by 39 percent when it served ads to consumers deemed most likely to convert, Facebook said. Facebook defines a conversion as anything from a completed sale, to a consumer taking another desired action on a website, such as registering for a newsletter.


NEW OPPORTUNITIES


Shares of Facebook, which were priced at $38 a share in its May initial public offering, closed Thursday's regular session at $22.17.


In recent months, Facebook has introduced a variety of new advertising capabilities and moved to broaden its appeal to various groups of advertisers.


Chief Operating Officer Sheryl Sandberg said in October that Facebook saw multi-billion revenue opportunities in each of four groups of advertisers: brand marketers, local businesses, app developers and direct response marketers.


Facebook does not disclose how much of its ad revenue, which totaled $1.09 billion in the third quarter, comes from each type of advertiser. Pivotal Research Group analyst Brian Wieser estimates that brand marketers and local businesses account for the bulk of Facebook's current advertising revenue.


Earlier this year, Facebook introduced a similar conversion measurement service for big brand advertisers, such as auto manufacturers, partnering with data mining firm Datalogix to help connect the dots between consumer spending at brick-and-mortar and Facebook ads.


And Facebook has rolled out new marketing tools for local businesses such as restaurants and coffee shops, including a revamped online coupon service and simplified advertising capabilities known as promoted posts.


The new conversion measurement tool is launching in testing mode, but will be fully available by the end of the month, Facebook said.


(Reporting By Alexei Oreskovic; editing by Carol Bishopric)


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Tennessee fires football coach Derek Dooley

KNOXVILLE, Tenn. (AP) — Derek Dooley is out at Tennessee.

The university announced the anticipated firing Sunday after Dooley posted the storied program's longest run of consecutive losing seasons in over a century .

Dooley, 44, had a 15-21 record that included an 0-15 mark against Top 25 teams. Dooley was 4-19 in Southeastern Conference competition during his three-year tenure and had lost 14 of his last 15 league games.

The school will hold a news conference Sunday at 2 p.m.

Dooley had four years left on his contract, which includes a $5 million buyout.

"We very much appreciate the effort and energy that Derek Dooley and his staff have poured into our football program at the University of Tennessee," athletic director Dave Hart said in a statement. "Derek and I met early this morning, and I informed him that I believed a change in leadership, despite the positive contributions he has made to the overall health of the program, was in the best long-term interests of Tennessee football. We will immediately begin the search for the best possible candidate to assume this leadership role."

Tennessee (4-7, 0-7 SEC) must beat Kentucky on Saturday to avoid going winless in SEC play for the first time in school history. Offensive coordinator Jim Chaney will serve as the Vols' interim coach for the Kentucky game.

Tennessee's 41-18 loss to Vanderbilt on Saturday guaranteed the Volunteers their third consecutive losing season, which marks the first time they have finished below .500 in three straight years since 1909-11. Tennessee's loss to Vanderbilt marked only the second time in 30 years that the Vols had fallen to their in-state rival.

The Vols will fail to reach a bowl in back-to-back seasons for the first time since being left out four consecutive years from 1975-78.

"I am sorry we could not generate enough wins to create hope for a brighter future," Dooley said in a statement. "Although progress was not reflected in our record, I am proud of the strides we made to strengthen the foundation for future success in all areas of the program. During the last 34 months, I've given my all for Tennessee, and our family appreciates all this University and the Knoxville community has given us."

Dooley's successor will become the Vols' fourth coach in a six-year stretch. Phillip Fulmer was fired in the midst of a 5-7 season in 2008 and ended his 17-year tenure with a 152-52 record. Lane Kiffin stayed for just one year before Southern California hired him away. Now Dooley is leaving after only three seasons.

Tennessee won at least eight games for 16 consecutive seasons from 1989-2004 and posted double-digit wins in nine of those years, but the Vols haven't earned more than seven victories in any of their last five seasons. This will mark their fifth losing season over the last eight years.

"It's real surprising," junior quarterback Tyler Bray said after the Vanderbilt game. "I didn't think we'd have a losing record. I thought we'd only lose a couple of games, maybe two or three, and we've been getting our butts kicked. It's really not fun. "

Tennessee faces some financial issues as it chooses its new coach. The university's athletic department posted a $3.98 million budget deficit for the 2011-12 fiscal year in part because of buyouts it was paying to Fulmer, former athletic director Mike Hamilton, former men's basketball coach Bruce Pearl and former baseball coach Todd Raleigh.

The football program is on probation until August 2015. The NCAA handed Tennessee a two-year extension of its probation Friday after ruling former assistant Willie Mack Garza provided impermissible travel and lodging for an unofficial visit by former prospect Lache Seastrunk, who eventually signed with Oregon and has since transferred to Baylor. Garza worked as an assistant on Kiffin's staff.

Dooley didn't enter an ideal situation when he arrived at Tennessee in January 2010 after going 17-20 in three seasons at Louisiana Tech. Tennessee went a combined 12-13 in the two years leading up to his arrival.

After Dooley led Tennessee to a 6-7 record and Music City Bowl bid in 2010, the Vols went 5-7 last season and closed the year with a 10-7 loss to Kentucky, ending the Vols' 26-game winning streak in that annual series.

Dooley overhauled his coaching staff over the winter, most notably adding Sal Sunseri as defensive coordinator after Justin Wilcox left to take the same position at Washington. The Vols were confident they could turn things around this year. Dooley said during the SEC Media Days that "you're not going to have Tennessee to kick around anymore."

It hasn't worked out that way. The Vols briefly entered the Top 25 after winning their first two games this season, but they've lost seven of nine since.

Although the offense has produced plenty of points, the defense has allowed 37.4 points and 476.8 yards per game. The Vols haven't given up that high a scoring average over the course of a full season since allowing 42.7 per game while playing a six-game schedule in 1893. Tennessee hasn't allowed that many yards per game since at least 1950, the earliest year Tennessee measures that statistic in its media guide.

As the losses piled up, fans started staying away.

Tennessee's average attendance of 94,642 last year was its lowest since 1989. The Vols' average announced attendance through six home games this season is 91,318, more than 11,000 below Neyland Stadium's capacity.

Dooley acknowledged at his Monday news conference that his future as Tennessee's coach was up in the air. Several players spoke out in support of him in the days leading up to the Vanderbilt game. Junior nose guard Daniel Hood noted how Dooley helped him deal with the death of his mother this summer.

"I can't talk to you about X's and O's because the only thing I know is defensive line and offensive line," Hood said. "But I know as a person, he's one of the best people that I've been around in my life, probably the second most important I've had in my life too.

"This summer, going through things with my mom and things like that, I wouldn't be where I am today without someone like Coach Dooley. As a player, it's hard not to take it personal when people are attacking your coach and things like that. It's hard to separate the X's and O's from the actual person."

Dooley often pointed out that the Vols weren't far from turning the corner. They either were ahead or trailed by one score in the second half of losses to Florida, Georgia, Mississippi State, South Carolina and Missouri. But they didn't put up much of a fight Saturday while posting their most one-sided defeat to Vanderbilt since 1954.

"I don't think you can say where this program is on one game," Dooley said after the game. "We've had a lot of really good games that we didn't win this year, so the program is certainly not near where we need to be. It's not anywhere close to where the fans want it to be, but it's probably a little bit better than what people think it is. That's how I would assess it."

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'Twilight' finale dawns with $141.3M weekend

LOS ANGELES (AP) — The sun has set on the "Twilight" franchise with one last blockbuster opening for the supernatural romance.

"The Twilight Saga: Breaking Dawn — Part 2" sucked up $141.3 million domestically over opening weekend and $199.6 million more overseas for a worldwide debut of $340.9 million.

The finale ranks eighth on the list of all-time domestic debuts, and leaves "Twilight" with three of the top-10 openings, joining 2009's "New Moon" (No. 7 with $142.8 million) and last year's "Breaking Dawn — Part 1" (No. 9 with $138.1 million).

Last May's "The Avengers" is No. 1 with $207.4 million. "Batman" is the only other franchise with more than one top-10 opening: last July's "The Dark Knight Rises" (No. 3 with $160.9 million) and 2008's "The Dark Knight" (No. 4 with $158.4 million).

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Collisions leave 2 pedestrians dead, 1 critically injured













Police on the 5000 block of Western Avenue on Friday evening, one of two fatal accident scenes.


Police on the 5000 block of Western Avenue on Friday evening, one of two fatal accident scenes.
(Peter Nickeas, Chicago Tribune / November 17, 2012)




















































A vehicle struck two pedestrians in the Ravenswood neighborhood Friday night, killing one and leaving the other in critical condition, police said.


In a separate collision in the Archer Heights neighborhood, a 61-year-man died after being struck by a vehicle, police said.


The first collision happened at about 6 p.m. Friday on the 5000 block of North Western Avenue on the Northwest Side, Chicago Police Department News Affairs Officer Amina Greer said.





A vehicle struck two people, both of whom were taken to Saint Francis Hospital in Evanston.


One of them, 85-year-old Evanston resident Raymond Lending, was pronounced dead at 9:09 p.m., according to the Cook County medical examiner's office.


The other pedestrian was in critical condition, News Affairs Officer Ron Gaines said.


In the Archer Heights collision in the 5200 block of South Cicero Avenue on the Southwest Side, the 61-year-old man was struck by a vehicle about 12:43 a.m. while crossing the street, Gaines said.


The man, identified by the Cook County medical examiner's office as Richard DeLarosa of the 6000 block of Mobile Avenue, was taken to Advocate Christ Medical Center in Oak Lawn. He was pronounced dead at 1:33 a.m., according to the medical examiner's office.


The driver in the Archer Heights collision is in police custody, but no charges have been filed yet, Gaines said.


asege@tribune.com


Twitter: @AdamSege




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Exclusive: Facebook offering e-retailers sales tracking tool

SAN FRANCISCO (Reuters) - Facebook Inc wants more credit for making online cash registers ring.


Facebook will begin rolling out on Friday a new tool which will allow online retailers to track purchases by members of the social network who have viewed their ads.


The tool is the latest of the new advertising features Facebook is offering to convince marketers that steering advertising dollars to the company will deliver a payoff.


Facebook, with roughly 1 billion users, has faced a tough reception on Wall Street amid concerns about its slowing revenue growth.


"Measuring ad effectiveness and outcomes is absolutely crucial to all types of businesses and marketers," said David Baser, a product manager for Facebook's ads business who said the "conversion measurement" tool has been a top customer request for a long time.


The sales information that advertisers receive is anonymous, said Baser. "You would see the number of people who bought shoes," he said, using the example of an online shoe retailer. But marketers would not be able to get information that could identify the people, he added.


The conversion tool is specifically designed for so-called direct response marketers, such as online retailers and travel websites that advertise with the goal of drumming up immediate sales rather than for longer-term brand-building.


Such advertisers have long flocked to Google Inc's Web search engine, which can deliver ads to consumers at the exact moment they're looking for information on a particular product.


But some analysts say there is room for Facebook to make inroads if it can demonstrate results.


"The path to purchase" is not as direct on Facebook as it is on Google's search engine, said Debra Aho Williamson, an analyst with research firm eMarketer. But she said that providing information about customer sales conversion should help Facebook make a stronger case to online retailers.


"It lets marketers track the impact of a Facebook ad hours or days or even a week beyond when someone might have viewed the ad," said Williamson. "That allows marketers to understand the impact of the Facebook ad on the ultimate purchase."


Marketers will also have the option to aim their ads at segments of Facebook's audience with similar attributes to consumers that have responded well to a particular ad in the past, Baser said.


Online retailer Fab.com, which has tested Facebook's new service, was able to reduce its cost per new customer acquisition by 39 percent when it served ads to consumers deemed most likely to convert, Facebook said. Facebook defines a conversion as anything from a completed sale, to a consumer taking another desired action on a website, such as registering for a newsletter.


NEW OPPORTUNITIES


Shares of Facebook, which were priced at $38 a share in its May initial public offering, closed Thursday's regular session at $22.17.


In recent months, Facebook has introduced a variety of new advertising capabilities and moved to broaden its appeal to various groups of advertisers.


Chief Operating Officer Sheryl Sandberg said in October that Facebook saw multi-billion revenue opportunities in each of four groups of advertisers: brand marketers, local businesses, app developers and direct response marketers.


Facebook does not disclose how much of its ad revenue, which totaled $1.09 billion in the third quarter, comes from each type of advertiser. Pivotal Research Group analyst Brian Wieser estimates that brand marketers and local businesses account for the bulk of Facebook's current advertising revenue.


Earlier this year, Facebook introduced a similar conversion measurement service for big brand advertisers, such as auto manufacturers, partnering with data mining firm Datalogix to help connect the dots between consumer spending at brick-and-mortar and Facebook ads.


And Facebook has rolled out new marketing tools for local businesses such as restaurants and coffee shops, including a revamped online coupon service and simplified advertising capabilities known as promoted posts.


The new conversion measurement tool is launching in testing mode, but will be fully available by the end of the month, Facebook said.


(Reporting By Alexei Oreskovic; editing by Carol Bishopric)


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Grizzlies hand Knicks first loss, 105-95

MEMPHIS, Tenn. (AP) — After handing the New York Knicks their first loss of the season, the Memphis Grizzlies now have the NBA's best record.

Zach Randolph had 20 points and 15 rebounds, Marc Gasol added 24 points and the Grizzlies beat the Knicks 105-95 Friday night, ending New York's season-opening eight-game winning streak.

Memphis used a big third-quarter run to increase its lead to 21 points and the advantage dipped into single digits just once in the fourth.

The Grizzlies (7-1) have now beaten the defending champion Miami Heat, the reigning Western Conference champion Oklahoma City Thunder, and the previously undefeated Knicks — all by double digits — this week.

"We are trying to make a statement," said Memphis guard Mike Conley, who scored 16 points and had eight assists. "We are making a statement that we can play with anybody on any given night."

Carmelo Anthony scored 20 points for New York, which was trying to start 7-0 for the first time since the 1993-94 season — when it reached the NBA Finals. Raymond Felton had 18 points and Rasheed Wallace added 13 on 6-for-10 shooting.

The game got away from New York in the third quarter, when the Knicks seemed to lose their composure during Memphis' rally, complaining about calls and drawing technical — including one on Knicks coach Mike Woodson.

"Our guys are competitive. They want to win," Woodson said. "We are on a six-game winning streak. We didn't want that streak to break. But it did, so we have to start a new streak."

The Knicks shot 51 percent for the game, but Memphis had 12 offensive rebounds, leading to a 22-12 advantage in second-chance points.

"We just couldn't rebound the ball," Knicks point guard Jason Kidd said. "We knew that coming in here, we couldn't give those guys second opportunities because they would capitalize on it."

Memphis opened the second half with a 23-7 spurt, a rally that built the advantage to 77-56.

New York cut into the margin slightly, but Memphis still carried an 85-67 lead into the fourth after outscoring the Knicks 31-18 in the third.

The Knicks started a comeback to open the fourth, outscoring Memphis 12-3 to pull to 91-81 with 6:18 left on Felton's jumper in the lane.

New York appeared poised to make a comeback reminiscent of Thursday night's win at San Antonio, when the Knicks outscored the Spurs 27-11 in the final 7:14 for a 104-100 victory.

But New York never got closer than eight the rest of the way.

"The third quarter got away from us," Anthony said. "Techs, they made some shots. We missed some shots. They got the momentum, kind of slowed the game down. We made a run and cut it to eight, but they already had the momentum going, so we were just in an uphill battle from there."

Memphis will try to maintain its winning streak and hold onto the best record in Charlotte on Saturday night when the Grizzlies face the Bobcats in their first back-to-back of the season.

Meanwhile, the Knicks were already thinking about starting a new winning streak Sunday at home against the Indiana Pacers.

But while the talk was of moving on, several Knicks, still stinging from the loss to Memphis, were thinking ahead to the teams' next meeting.

"One thing we're saying," Wallace said of the Grizzlies, "they've got to come to the Garden."

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EU drug regulator OKs Novartis' meningitis B shot

LONDON (AP) — Europe's top drug regulator has recommended approval for the first vaccine against meningitis B, made by Novartis AG.

There are five types of bacterial meningitis. While vaccines exist to protect against the other four, none has previously been licensed for type B meningitis. In Europe, type B is the most common, causing 3,000 to 5,000 cases every year.

Meningitis mainly affects infants and children. It kills about 8 percent of patients and leaves others with lifelong consequences such as brain damage.

In a statement on Friday, Andrin Oswald of Novartis said he is "proud of the major advance" the company has made in developing its vaccine Bexsero. It is aimed at children over two months of age, and Novartis is hoping countries will include the shot among the routine ones for childhood diseases such as measles.

Novartis said the immunization has had side effects such as fever and redness at the injection site.

Recommendations from the European Medicines Agency are usually adopted by the European Commission. Novartis also is seeking to test the vaccine in the U.S.

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Lady Gaga tweets some racy images before concert

BUENOS AIRES, Argentina (AP) — Lady Gaga's tweets were getting a lot of attention ahead of her Buenos Aires concert Friday night.

The Grammy-winning entertainer has more than 30 million followers on Twitter and that's where she shared a link this week to a short video showing her doing a striptease and fooling around in a bathtub with two other women.

She told her followers that it's a "surprise for you, almost ready for you to TASTE."

Then, in between concerts in Brazil and Argentina, she posted a picture Thursday on her Twitter page showing her wallowing in her underwear and impossibly high heels on top of the remains of what appears to be a strawberry shortcake.

"The real CAKE isn't HAVING what you want, it's DOING what you want," she tweeted.

Lady Gaga wore decidedly unglamorous baggy jeans and a blouse outside her Buenos Aires hotel Thursday as three burly bodyguards kept her fans at bay. Another pre-concert media event where she was supposed to be given "guest of honor" status by the city government Friday afternoon was cancelled.

After Argentina, she is scheduled to perform in Santiago, Chile; Lima, Peru; and Asuncion, Paraguay, before taking her "Born This Way Ball" tour to Africa, Europe and North America.

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