My wife and I own two acres of land in North Central Florida.

Considering the appalling state of the economy which only promises to get worse, do you think it would be wise to sell this land ASAP before its worth seriously depreciates?

It depends on when you anticipate needing the money. When the economy recovers people will still want to move to Florida. And the land values will go back up. How soon that happens and how fast they go back up is just a guess. I doubt that anyone has enough insight to make a trustworthy prediction.

So if you don't need the money for a few years, I would keep the land.