Because you have already determined how much your home is worth, I suggest getting a not for refinance appraisal prior to making your next move. That way, if you are not going to get 47K for your home, you will know that in advance. An appraisal would be around 300 dollars.
If you would rather have a real estate professional come to your home and provide comparable sales I can recommend a couple from my office. Real estate agents can provide a range of value for your home based upon recent activity, There is no cost.
I like your thinking, the true question is what is the competition doing?