[quote=SD Realtor]A contingent property means there is already an offer accepted by the seller.
It is not an active property.[/quote]
What’s the difference between “contingent” and “pending” then? My understanding was that “pendings” also had an offer accepted by the seller and were currently “in escrow.”
In a SS, “contingent” would obviously mean that since the “seller” accepted an offer (lol), it in no way means their lender(s) will accept it, which means the listing could still be “active,” that is, unless the affected lender(s) already approved the price and terms and earnest money has been deposited into escrow.
Therefore, it appears that a good portion of today’s “contingent” listings could still be “active” listings or have a great potential to become immediately “active” again, since no earnest money has been deposited with escrow.
I understand the data sdr has put out but it is misleading because one cannot determine the true percentage of actual “distressed” active listings from it. I’m not attributing any blame here. I’ve never subscribed to RE market data under the REALIST format and perhaps that’s how it’s laid out and sorted.
