Let me start by saying that if you do not have to sell for the next few years...DO NOT.
If you must sell I would recommend the following:
1) Contact a local Real Estate Broker who knows and lives in the community and who plans on staying in the business through the downturn. It may take 12 months or more to sell your home and you do not want your Realtor bailing on you before your house has sold. Do not hire a Realtor because you feel obligated to a family member or friend. Hire a Realtor because they are the best qualified to sell your home.
2) Review your loan docs and all liens against the property. Be sure that your REALISTIC sales price is enough to cover your outstanding mortgage(s), pre-payment penalties if any, taxes or other liens and Escrow/title/ commission costs. If not you may need to consider a short-sale or other means of disposing of the property.
3) The days of selling "As-is" are over. Take care of the deferred maintenance, clean up the landscaping, de-clutter the inside and stage the house.
4) Remove barriers to doing business with you. Make showing the home easy. Have your disclosures filled out and readily available for review.
5) Present yourself as a Qualified Seller.
6) Pick your price carefully. Use only recent comps and expect to get less than that. Buyers do not care about what you "need" to make or "want" to clear. Buyers only care about what they feel the house is worth to them.
7) Respond to ALL offers, no matter how low-ball you feel they are. If you get a live Buyer on the line, do not let them ago until it is clear that what they are offering is truly unrealistic to what the market is doing.
Lastly, monitor your asking price. Make sure that the broader market is not lowering around you, thus making your home seem over-priced. Price is going to be the single biggest driving factor this year. I suggest that you stay ahead of the curve, not chasing it.
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