Dead lawn, what do I do?

I've never had a garden before so am totally clueless but eager to learn.
Basically, my lawn is in real bad shape - overrun with weeds, never maintained. Though there does seem to be grass there someplace. My question is can it be salvaged, or should i just till the lot? If i can recover it, how do i go about doing it? I have just bought a lawnmower so thats a start. When do i cut, water, aerate, fertilize, add lime, etc??
Appreciate any help (Lawn care for dummies is on the way...).
Here's a pic if anyones interested
http://cresthillgarden.shutterfly.com/action/?a ŠcNWTVm3ZMmNw
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Instructions depend on where you live -- procedures in Florida will vary greatly from those in the Midwest -- The best thing you can do is go to your local extension service office and get some of their brochures on lawn care and have a dialogue with an extension agent or a Master Gardener (if there is one). If you have the time, sign up to take the Master Gardener course; otherwise, watch for the extension service to have a seminar on lawn care. -- Regards --

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It appears that maybe Scott's Lawn Care was the previous owners choice, Scott's left my lawn in about the same condition.
Stick with the extension service or local college. Some colleges have excellent resources available to the homeowner.
Mark Mitchell

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Hire a -local- lawn service to treat it for you, until you learn more about what's up with that.
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Thanks guys, I did just that - hired a local crew to do it at a pretty good price. This way I get to see what they do so at least I can learn, and can concentrate on everything else wrong with the house :S.
Thanks again
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Not so bad, and most all offer free service calls if you feel it needs it.
Good luck with your new castle. :)
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