Over the years I have stored two quotes in my memory bank from a retired farmer in the area that has much land bought and paid for.  He swings in once and a while.

1: " It takes 2 things to be successful,  hard work and luck"

2:  "NEVER use your paid for land as collateral."    (he stressed never)


Three years ago he was 2nd bidder in a large tract of land close to us.   He is not buying in these current market levels.


My personal opinion:  This has to be your decision, go with your gut.  So many factors in this, your age and financial "well being" should sway your "gut" to making the right decision.    .   I have been with you in the bust camp, (cant believe how fast and large the price of dirt has gone up) and also feel the impatience.   Am holding steady........ so far.

Sorry for the lack of numbers, yours looks good.   I guess the true economics of this decision, IMO, deal with more than what one should be comfortable in giving out in a public forum.

Best wishes