As Kathy mentioned, there are many factors to consider when deciding whether to sell now or refinance. Using the criteria that you provided for your home, I gathered some information that may be helpful. According to IRES, the Northern Colorado MLS system, 9 acreage properties (1-5 acres) with 2500-3500 s.f. in Brighton have sold within the past 6 months. Of those, 5 were foreclosures which brought the average sale price down to $302,211. The average days on the market for these properties was 45 days. The appraiser for the potential buyer and for your refinance will consider this information (and more specific specs and comparison adjustments with your home) in determining the value. I am certainly not trying to discourage you, however it is important to be realistic and to know the facts.