As the previous posts mentioned it's what we call 'active with a contingency'. In real terms it means they have a contract but will accept backup offers, so they are still marketing it. This is why it still shows as active. Short sales can take a very long time and because of that many first in line buyers will back out before the process is over. I wouldn't ever discourage putting in a backup offer as many do end up getting the house. Short sales over the past 6 months have had more luck closing and in slightly faster time frames. Partly because the agents are more skilled at listing them but mostly because the banks are staffing better for them.
Let me know if you have any Canadian specific questions as I'm a Canuck myself.
Sorry, forgot to include the link for the similar pool homes in the North Phoenix metro from my previous answer.
Here it is. Click: http://www.flexmls.com/link.html?rdpogd9ink3,12,1
Sorry this home is under contract.
There are many more houses in the area with similar pricing. For example, here are some pool homes in the North Central Phoenix metro area with low pricing.
If I can find you the perfect home at a great price, feel free to contact me.
Jeff Masich, RealtorÂ®
Arizona Homes and Land
HomeSmart Real Estate
Below is the link to the full MLS listing for the above property. It is a short sale, or as my real estate friends and I call them, 'Living Nightmares!' As it turns out, this property is under contract to a buyer who is probably unaware that short sales have an astronomical failure rate. Nevertheless, if you have any questions about short sales, bank owned properties or any other aspect of buying a home in the greater Phoenix area, please feel free to contact me.