refinance for land investment

[italianblue]

The only way i can obtain a cash loan of $27,000 is to re mortgage my home, i on;y have 12 years left to pay with a $35,000 balance, most of the interest is paid already. the bank will only refinance if i take a $40,000 loan. by the time i pay broker fees and closing fees and land purchase i think i will be around the $60,000- 65k mark. my house is valued at $120,00-+ its going up around $15,000 a year, and in two years i am looking to build ahouse on this land and sell my house anyway. the problem is that i live in an area of florida where the land prices exploded over night . a piece of land i was looking at (1acre) in march 04 is now going for $27,000- 30k and is still rising monthly. either way the land and my home will appericate over the next two years. i just dont know if i am risking or paying too much just for a piece of land. i dont know what to do, help, please!