You will be able to purchase another home, exactly 3 years to the date of the foreclosure. On the date the HOME SOLD-NOT THE DATE OF FORECLOSURE. FIND OUT WHEN THE HOME SOLD, WAS IT 5 MONTHS AFTER THEY TOOK IT BACK, 1 YEAR, ETC....
I would suggest meeting with a lender and asking to get pre-approved. The next step is to interview some local Realtors and find yourself a good one. I've attached a link below to one of my most popular blogs here on Trulia on how to find a great Realtor wherever it is you live.
Good Luck and Happy House Hunting.
Harold Sharpe - Broker
So Cal Homes
California Department of Real Estate Broker License # 01312992
You may be able to buy now. Meet with a local mortgage lender and discuss your options. There are different lending programs with varying amount of flexibility with people post foreclosure. Much will depend on your credit, income and assets since the foreclosure, but it it's worth looking into.