Many short sales have been priced way below market value so they can get multiple offers to submit to the bank. When it first comes onto the market, tons of people view the home and submit offers - many way over the listing price. Then the short sale process begins -w hich means waiting a really long time for bank approval. During that waiting period, agents and sellers beliefve there is no need to show the home. Beginning January 1, 2009, agents can no longer underprice these homes, so that should help the consumer and the market. The best thing to do if you are really interested in that particular home, is to watch and wait. Often, the bank takes so long to approve the short sale, that they lose all of the buyers who had submitted offers, then the home comes back on the market. This is ideal for "new buyer" because the short sale is already approved and it won't take nearly as long to close escrow. Your agent should really be on top of things and get you listings as soon as they come on the market - the really good deals go fast. Feel free to email or call me, I would be happy to help.
In that situation, it means it's a short-sale and the seller has accepted the offer and does not want to be inconvenienced with showing the property any longer. The only reason it's still on the market is because the bank hasn't officially made a decision on whether or not they will allow the transaction to occur.
Hope that helps! Let me know if you need any additional information.
Realty Executives Dillon