First things first. Even if your house is worth more than your mortgage, would you be willing to pack up and sell? 6% towards commissions. 3% for your listing agent, 3% for the buyer's agent. Since your area is surrounded by foreclosures, what kind of sales comparables will you see? have you thought of a professional appraiser for your property? average cost $350/375. the lender normally goes with their own in most cases. What about a home inspection? another....$$$. Here's more...what about your percentage of closing costs? Is it really worth to you spending a little more $$ in making your house stand out?
It will make sense if you're really ahead in equity. That means you owe less than what the property is worth. You'll have room to spread thru out these costs. So cut your losses and pack up...if that's the case. If not, and you're positive on the monthly rental, why bother? Patience can also pay off sometime.