This home is a short sale by the owner. The owner has accepted a purchase contract with a buyer and is waiting for their lender to approve the purchase for less than their mortgage.
Many short sales eventually fall through. So ask your Realtor to follow the home for you.
Here are all of the other homes actively for sale in the immediate area: http://www.flexmls.com/link.html?uc6l7lxof7a,12,1
If you have any questions about these homes or need a Realtor just ask.
Jeff Masich, Realtor
Arizona Homes and Land
This home appears to be under contract, with the possibility of accepting a back-up offer. This property is also a short sale. I'm not sure if you are familiar with what those are, but it is where the seller owes more than the current market value and needs their lender's approval to sell at a loss to the bank. This process can be quite lengthy (it can take several months) and many buyers end up backing out and finding something else before the approval. If you have a lot of patience, short sales can work out well for you. If you're in more of a hurry, they may not be the best route to go.
I would be happy to send you some further information about this home and/or send you some information about other available homes in this neighborhood if you'd be interested. Thanks for your question and best of luck to you!