Anytime I buy land I like anyone getting a mortgage to do it would have an appraisal done prior to actually buying it. I do not believe the property was over priced by any stretch at all. Like I said to build the shop alone you would be sinking I would be 50K into construction costs.

The house if it were on say 1/2 acre and had no shop would sell for say 85-90 in Cooper based on other listings. So the value of the property is not the issue.

We simply had to accept that given we have our current house payment plus our payment on a property in Arkansas we just should not go deeper into debt right now.

I was also trying to speed up my escape from the city. The orginal plan was to move up to our place near Hot Springs and buy some land in the area as "hunting and pond land" and never really build our home there just keep the land more in nature for our own use.

My wife has started to renig on getting out in Sept next year, stuff about to far from family, etc. So I started to poke around closer to home and found that place.

The good news is I think walking the property drove home to my wife a few things.

1. She wants some mountains so she gets that Arkansas is about as close to home as we can find that.

2. She really does like me want OUT of the city and we are back on track for a Sept-Oct 07 escape.

Sometimes you just need to pause and think to get your priorities strait.

Hence we are back to plan one. I have my stellar agent in Arkansas looking for any piece of land 10 acres or more that has good pond potential and little building potential and is in say 30-40 minutes of where we live. She did an awesome job finding our place up there.

We love that place and like the house a LOT more then the one we just looked at. The issue from a pond prespective is it is way too high up in the hills and way to rocky for a good pond. I can build a nice little koi garden pond or what have you but no fishing pond. There is a creek in the back that runs when it rains I can dam that and make a drinking pool for the deer but let me put it this way you would be taking your live into your hands to get a bobcat back there let alone a dozer or track hoe.

The property is about 5 acres with about an acre in front and it is about as high up as it could be in elevation. I will post some pics tonight. So it is really beautiful but just not pond condusive.

I agree raw land is our best bet now that the wife is ready to go back to plan A! Land is cheap in that area, I can probally find 10-15 acres up there in time and pay cash for it. Our house payment up there is only 500 a month including taxes!

This is really the right way to go thanks to everyone for helping me think through this,

Jack Spirko
www.jackspirko.com