You may receive an in kind transfer of assets, you could get stock and your sister could get real estate of equal value and the executor could deliver a deed to your sister in just her name alone as long as you and your other sister received other assets of equal value.
Your older sister as the executrix has the responsibility to marshal the assets, file an inventory, file an inheritance tax return and pay theinheritance tax, and then distribute the assets of the estate to the three of you in accordance with the will. If the numbers work out, property can be distributed in kind to one onr more heirs.
Even if the house constitutes more than your other sister's fair share, the three of you can enter into a family settlement agreement so she gets the house. Your older sister can execute a deed, but don't be surprised if it takes the estate attorney several months to get to that point in the process.
An answer to a general legal question may not consider all of the facts and circumstances involved in a particular case, or the applicable law, and should not be considered a substitute for direct consultation with a lawyer.
There may be gift tax implications in this situation or the use of qualified disclaimers may be required, but you must discuss these issues with your estates attorney that you need to retain.
Ms Siegel offers sound advice and I read her many questions answered here at Avvo. You may want to discuss this matter directly with her and you should do so immediately. In addition to monetary damages and recovery of losses you may want to consider having the trustee removed for cause. For grounds for removal, please see my article entitled Probate: Removal of Personal Representative Under PA Estates and Fiduciary Code at the following link: http://www.sjfpc.com/Probate_Removal_Executor_T.... Even though it relates to PA law most states use similar tests for removal.
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Mr. Ruggiero gives you good advice. Since you and your siblings have a good relationship, it should be easy to work this out, particularly since the house apparently comprises about one third of the value of the estate. I guess you will have to resolve the issue of what "close to the same value" means, in order to balance everything out. I would caution, however, that the executrix should make sure that all three of you sign an appropriate receipt and release.
Good luck to you.
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