Hi Corecusa, I am a luxury broker with Sotheby's. I am proud that we work with distinctive clients in ALL price ranges.
I have worked with other Sellers in a similar situation. What I would recommend is having a broker come out and give you two (2) CMAs (comparative market analyses): one (1) for the sale of the house and one (1) for the rental. Also, I would recommend we do an initial search and see what kinds of homes are out there and what they are being offered for.
To answer your question more directly though, what I have been finding lately is that, in this economy, it is best to hold and rent as it is highly probably that your home will be worth more in a few years. Each property is valued on a case by case basis, however, so I would recommend getting those estimates as soon as possible so you have all the information you need to make an educated decision.
If you would like my opinion and guidance, please don't hesitate to contact me.