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