The home had a contingent contract accepted on it on Nov 10th. The status was changed TODAY (12-29-08 about noon) , to pending . Now, this was a short sale contract, so the contingent status may have been for the bank to do their paperwork and accept the contract, rather than for the buyer to sell their home (which is the normal contingency that everyone thinks of) The computer indicates that there is an option date of Jan 13, 2009, but I can't tell if that is for the building inspections to be done or for ?? The contract might fall apart still, but the chance of that is rare if the agent has marked it as "pending" already - that tells me that the listing agent is very sure that the deal will go through.
Here's the information on 2 other homes that are active in the subdivision (sorry it's such a long link)