Hello Lupita, This appears to have been a scam listing. If you figure out what cities/zip codes your considering, minimum number of bedrooms and the maximum payment your looking to achieve you can be set up to receive automatic daily emails to fit your search criteria. You may even qualify to buy with minimum out of pocket expenses and pay less than rent in many cities. The rentals in Downey start from $2,100 for 3bd 2.5ba townhome and $2,300 for 4bd 2ba single family home. The purchase start from 285k for 3bd 2ba condo which is only $1,425 down payment...
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Depends, do you need the proceeds of your current home in order to purchase a new property; if not can you handle both expenses and for how long--why not visit with any qualified loan officer(s) first, see exactly what your budget can handle then make a determination--Yes, today many great bargains waiting to be had do exist and none of knows where the market will head in the near future--unfortunately the time frame for your search is a decision only you can make, based on your finances, lifestyle, wants and needs.... more