This is hard for me to accept, but a person just told me last night that ponds are "a wash" from an appraisal standpoint. Generally speaking, they don't add or subtract from the value of the land. Speaking as someone who just built a nice one, plans to build more, and has noticed that a lot of people tend to build around them; I question that a bit. But I do realize that a lot of people aren't as fascinated with "mosquito magnets" and "dangerous areas for kids" as I am and most members of this forum probably are.