At the risk of annoying some posters, I would like to point out a couple things:
1. Posting on Trulia is supposed to be answers to questions - some posts are more in the "soliciting business" mode, which IMHO is not apprppriate,nor helpful..."I can do this, please call me"
2. The divorce process is very difficult in many ways, dividing the assets is painful emotionally and financially. Due to the market shift there can be a wide range of "estimates of value". Fair Market Value (FMV) is what a willing and able buyer will pay for a property. An appraisal may or may not be the answer.
3. An appraisal is usually based on the closed sales of comparable properties that sold in the last few months. The problem is some cases is that if the market is going down, past sales are not a fair comparison and would tend to overstate the value.
For your purpose I would ask for a "Broker Opinion of Value". This is a service that Realtors can provide, usually at no fee, or a minimal fee. You might want to ask for three BPOs (which is the same system that Lenders use for Short Sales and Foreclosures). The danger here is that some agents will try to "buy the listing", meaning that they will offer an "optimistic" value in hopes of the highest value being the winning bid.
I have seen some very sad outcomes when, in a declining market" unrealistic expectations are set, one spouse planning to sqeeze every dime out of the property, the other planning to give it away to the other receives zero.
You might want to approach this a couple of different ways:
1. If you absolutely need whatever cash is available now, then prepare the property for market and price accordingly.
2. If you can afford to wait (this could be years), then you could negotiate a pro-rated schedule. There may be other assets that could be distributed that have not suffered the decline in value that real estate has seen. It may be that one spouse wants to the property, so rather than forcing the sale in a down market, figure out another way to distribute the same dollar value.
Lastly, divorce is one of the main reasons that people sell. In this market it is not the best time to sell, however if you must, my suggestion is sooner is probably better than later....unless you want to wait much later.
I hope this is helpful.