FYI, I use this shell script on a few test boxes. I keep it in the root of the src tree and run it whenever I want to update to the latest, which is usually each morning when I arrive at my desk.
<9>:cat rebuild-freeswitch.sh
#!/bin/sh
freeswitch -stop
make current
cd libs/esl
make
make perlmod
cd ../..
sleep 10
freeswitch -nc -nonat

Be sure to build all the ESL-ish mods that you use.
-MC