swamp rehab
This may not be as bad as it looks, it might be the beginning of the pond you want and you remember growing up with.
Like Dave said the storm water may be an issue.
As a rule shallow water is our enemy—evaporates faster-allows aquatic vegetation to grow—and shrinks to half of its size when it gets low.
Water either go up –evaporation
Down –poor soil
Sideways—under the dam
A pond that has been around since the fifties holds water well and is not leaking under the dam, most of the water is evaporating. THIS IS A COMMON SINCE GUESS.
Now all that to get to this. With it dry now is the time to rehab this swamp (clean it out).
Check with the neighbors let them know what your plans are, if they want to help great but if not most of the water is on you anyway. Do not suffer with a bad pond that can be fixed—that is part of the reason you bought the property.
otto