Hi Maggie. Just a little amplification: PR - Pending Release - is supposed to be used when there is a contingent offer, that is, contingent upon the sale of another home (or purchase). Often, but not always, there is a '72 hour' clause that allows the seller to entertain other offers, and, if a backup offer is accepted, to give the first buyer 72 hours (or whatever time was negotiated) to remove the contingency and show the ability to close.

PS - pending show - has a new meaning in some cases. On a short sale, if the seller accepts an offer and submits it to the bank, it must be shown as PS even though the bank has not yet considered nor accepted it. The sale is generally contingent upon bank approval. Some sellers would like a backup offer, some would prefer not to have one. Often, if an offer comes in at a higher price, there is an obligation to let the bank know which could delay the approval process.

Let me know if you want a recommendation for a good Realtor in the area.

Regards ... Wayne (408-858-7199

Hi Maggie,
PS, and Pending Show mean the same thing, it means that the seller has accepted an offer from the buyer but contingencies have not been removed ( it means the buyer could still back out) and the listing agent still wants the property shown and possibly get back up offers.( there could be a several reasons for this a few of them are: buyers finances don't look strong, inspections need to be done and buyer may back out if there is to much work to be done or the seller does not want to pay for it, there could be other reasons but those are a few).PR stands for pending release which means they are are waiting for the buyer to remove contingenies.(see above reasons).
As far as going after them, thats a yes and no question. If you have seen the home and absolutely love it, then you can have your agent call and ask the listing agent if it is worth your time to write a back up offer. Other wise, skip it just go after active listings, because if their deal falls through the listing agent will put the property back on active.
I hope this helps,

Regards,
Allyson
408-705-6578
allyson@homesbyallyson.com
DRE# 01397256