Just to clarify that I'm not currently buying or selling. I sold my house in downtown Indy in early 2010....but the experience is still fresh in my mind. I was lucky at least that the house was vacant while I was trying to sell it, so I didn't have to worry about my pets or keeping it tidy. Of course, not living in a house you're trying to sell can also be challenging. It seemed like we got a heavy snow every time I had a showing scheduled.
In any event, I became obsessive about comps to make sure I was priced right. That was hard because downtown properties are unique in a lot of ways and their values can vary widely based on what block it's on.
So, that's my advice for anybody selling. As hard as it is to swallow the decrease in property values, try to be realistic about what your house is worth. Also be prepared to be lowballed. Every buyer out there is convinced they're going to get a smokin' deal right now, even if your house is otherwise priced well. Make sure your realtor really understands the comps and can persuasively argue for or against a certain price. Having worked with a handful of realtors over the years, I've included that some are better than others at the actual negotiation part of buying/selling.

