This is the mud pit on a property I made an offer on. It's in a small ravine and so far I don't see any creek flowing in or out of it. I've heard that it's best to not build a pond on the lowest spot because digging in a wet spost can make things more expensive and difficult. Would makin a pond out of a mud pit be more expensive? What are the extra things to consider? What does it all mean?!!

That area surrounded by trees will add lots of leaves in the fall maybe 1ft of them per year. Pond will look nice but its life expectany will be short due to it filling in with tree leaves. All those leaves in a garden will grow great vegetables and them in the pond will grow lots of vegetation; most of it might be a big nuisance and headache. Be prepared.

Trees can be removed. Just wondering about the excavation process.

Would we have to drian it to excavate it?

I would dig a sump pit for the water to drain into, keep pumping that out and start digging. The digging would go faster that way - no water or minimal water to wash dirt out of the bucket as you dug, and the operator can see what they are doing.