Bridgette Kostek, REALTOR, Coldwell Banker M. M. Parrish

Cj,
The hyperlink below (be sure to scroll to the bottom of the page) lists an wide variety of grants (free money) for first time home buyers in Florida. Also be sure to check with the individual city you're interested in, because they sometimes have small unadvertised programs as well. Most importantly, use a mortgage professional familiar with these programs, because the paperwork can be tedious and complex. Of course, I also recommend a buyers agent to represent your interests solely. Get referrals from friends and family to find a good local REALTOR and lender in your area.

On a personal note, thanks for your work/service, and be careful out there. Best of luck and happy hunting! - Thu Jan 10 2008, 10:32

Jeez.... I slack off Trulia a bit and just look what I miss!

Congrats to Deborah! 100 BA is quite the accomplishment, and well-deserved! I hope someday to near 25... Thanks to Sylvia for the heads up! - Mon Jan 7 2008, 09:44

Andrew,
As a fellow lover of historic homes, I feel your pain. As you know, the mortgage market is fairly tight right now. How is your credit rating? The higher your rating, the more likely you will be able to find a loan closer to your needs. $0 into rehab costs seems extreme even in this market--UNLESS you are looking at the true labor of love of rehabbing a tear-down (not usually a sound financial decision--but sometimes done for sentimental reasons). In that case, no one will give you rehab $ because the LTV ratio is already well below par, even with a large down payment. Seek out a REALTOR who regularly deals in historic houses and/or neighborhoods in your area. He/she can probably provide a list of more historic-friendly lenders. Keep shopping until you find FAIR terms, which should ideally include some rehab cash (usually held in escrow). At worst, lower your down to cover the repairs yourself.

Lastly, don't forget to factor in the cost of home owner's insurance when figuring out your monthly budget. Some companies charge a premium on historic homes, others treat them like any other house with similar construction. Again, a local REALTOR can help you here. Best wishes and happy hunting! - Mon Dec 31 2007, 20:15

Lee,
I would highly recommend most small towns in Dixie, Gilchrist or Levy Counties. In Levy County you can reasonably acquire acreage only minutes from the gulf. All three of these counties have springs, rivers and wildlife galore. The largest town in the region is Gainesville (in Alachua County), which was voted the #1 city to live in by "Cities Ranked and Rated 2007." Gainesville would be generally anywhere from 30 -90 minutes away depending upon the area you choose. So you pretty much get the best of everything!

You decision lies mostly upon your goals and your intent: Short term or long term? How much acreage? 5, 10,40, 100 acres? What is your budget? Your risk tolerance? I do specialize in land investment (in North Florida, 8+ Counties) and Real Estate Tax (Avoidance-LOL) Strategies. In the "Web Reference" line below there is a direct link to the Dixie/Gilchrist/Levy MLS property search--much of this area is ripe for long-term speculation--check it out! And, of course, drop me an email if I can be of any further assistance. Best of luck and happy hunting! - Mon Dec 31 2007, 10:10

Lee,
I do love your question, and arrogantly ask that any other RE Pros REFRAIN from answering! I would love to know the answer to your question... Unfortunately, most Trulia consumers are strictly focused on their immediate issues and don't take the time to answer truly thoughtful questions such as yours...

Common' guys--prove me wrong! Let's get some CONSUMER input on Lee's question! - Sat Dec 29 2007, 17:34