After her husband died three years ago, an engineer vowed to hang on to the lakeside house the couple had custom-built two decades earlier. But since then, the costs in money and energy for upkeep have mounted -- giving the widow a compelling reason to sell, and sell quickly.

There’s much to reassure the woman. Property values in her area have risen sharply, and lakeside homes are especially coveted. Still, the widow is nervous about the current market. That’s because the gradual rise of mortgage rates -- coupled with lagging income growth -- mean fewer prospects can now afford a place like hers.

Skylar Olsen, a senior economist for Zillow, which tracks real estate throughout the country, understands the anxieties of the woman in this true story. But as long as demand for property in prime areas continues to outstrip supply and the overall economy stays strong, she says the engineer’s prospects are excellent.

“For people who are downsizing, I don’t see any reason to be in a crazy rush to sell,” Olsen says.

Even so, she says all sellers of high-end properties need to be especially careful to create a reasonable pricing strategy.

“In the current market, if you price right, multiple bids are likely. But if you overprice, people will think you’re a little delusional, and that won’t work out well for you in the end,” she says.

Here are a few pointers for sellers:

-- Understand that those who ask too much often get too little.

Kathy Zimmermann, the broker-owner of a Re/Max real estate office, says accurate pricing can be complicated in a neighborhood like the engineer’s, where properties vary widely in style and size.

“Buyers aren’t going to waste their time trying to negotiate with someone asking way too much,” she says.

Accurate pricing is complicated, especially in areas where property valuations are in flux. In such neighborhoods, an examination of recent sales for similar homes -- known as “comps” -- may not give you obvious answers about how much to ask.

But accurate pricing is all the more important at a time when buyers are increasingly fearful they’ll overpay.

-- Realize that open houses don’t always guarantee results.

Many sellers of high-end homes that show well think of open houses as a panacea for any marketing woes they face.

But real estate specialists, such as Dorcas Helfant, a former president of the National Association of Realtors (realtor.org), says public open houses provide little utility to owners trying to gain momentum toward a sale.

She says open houses rarely attract serious, well-qualified purchasers. Many who attend open houses are neighbors or people seeking decorating ideas for their own homes, while others are mere wannabe buyers.

Rather than pressing your agent to hold more open houses, Helfant says you should consider asking for an “office caravan” to gain pointers on making your property more saleable. During such an event, many members of the sales force at the listing agent’s office come over to critique the home and offer suggestions for upgrades.

“The more eyes you put on the house, the better,” she says.

-- Use your nervous energy to power a cleaning campaign.

Zimmermann, a veteran in the real estate field, says that in recent years she’s observed a gradual decline in the cleanliness of properties shown for sale. All too often, she says, dual-income couples with busy schedules lack the time to keep a home as clean as their parents’ generation did.

Ironically, contemporary buyers hanker more than ever to own a spotless, well-kept place where they can get a fresh start.

Anxious owners who fear their homes won’t sell would do well to channel some of their nervous energy into an old-fashioned cleaning blitz that covers every inch of their place.

Showing a home in sparkling condition can give you a competitive edge over less tidy people trying to sell in the same neighborhood.

“Anyone who puts an immaculate house on the market should come out ahead,” Zimmermann says.

-- Resist the urge to pressure your listing agent.

Putting a lot of pressure on your listing agent may seem to help, but it can easily backfire if the agent begins to resent your persistent inquiries. Some agents may even drop clients who deal with their frustration by making excessive demands in an overly aggressive way.

“It’s not unusual to hear about agents terminating listing agreements if the homeowners fail to cooperate. You’re entitled to regular updates, but pestering your agent makes no sense,” Zimmermann says.

-- Fear not that your house will languish unsold.

Sellers who become caught in a web of worry only make it tougher to achieve a winning result from their sale.

“For sellers, the overall picture of the market is still an incredibly positive one. Yes, market conditions are changing and mortgage rates are rising -- which reduces buying power. But I still counsel my clients to stay calm and avoid needless fretting so they don’t sabotage their sale or suffer needless angst,” Helfant says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

It’s a time of conflicting signals for homebuyers. A decade after the nation’s real estate crash, property prices in popular areas are still rising and home loan rates are ascendant.

“The positive forces of faster growth and steady hiring are being met by the negative forces of higher home prices and mortgage rates,” says Lawrence Yun, chief economist for the National Association of Realtors (realtor.org).

Still, Yun and other housing economists say the skies are very gradually brightening for those motivated to buy a property in the coming months.

“It’s possible the worst of the supply crunch affecting most of the country has passed,” says Yun, noting that in June the level of housing inventory was up slightly for the first time in three years. Plus, several major metro areas are now witnessing jumps in supply.

At this point in the real estate cycle, overall demand for homes is slipping. But as always, there are some diehard buyers who are undaunted by rising mortgage rates, which are still very low. These determined buyers include millennial couples who wish to own for the first time and families with an urge to trade up to larger quarters.

“We Americans are pretty terrible at delayed gratification. ... If we want better housing, we don’t take kindly to a long wait to make those dreams come true,” says Mark Nash, a longtime real estate broker and author of “1001 Tips for Buying and Selling a Home.”

But he says buyers who prevail are those who stay focused on their goals in the home selection process and also take a strategic approach to bidding.

Here are a few pointers for buyers:

-- Seek to assess the sellers’ equity position.

Eve Alexander, a broker who deals exclusively with buyers, says it’s critical for buyers to gather as much information on the sellers as is readily available before bidding on any home.

“What you’re looking for are insights into the mindset of the sellers,” Alexander says.

One source of clues on the owners’ equity position can be found by searching local government land records. These records (usually available online) should tell you when the current owners purchased the place and the original price they paid.

“If the sellers brought the house a couple of decades ago and haven’t refinanced, they should have a lot more equity than if they bought it in a strong market just a few years ago,” Alexander says.

-- Ask your agent to query the listing agent.

When owners have an urgent need to sell, it’s normally against their interest for that information to be broadcast to the world. Even so, Alexander says many listing agents will readily disclose such client information in response to questions.

“You’d be amazed how much listing agents will divulge to a buyer’s agent. For example, they might blab about how the seller must move due to divorce or a job transfer,” she says.

-- Identify and rule out sellers who are simply testing the market.

Eric Tyson, co-author of “Home Buying for Dummies,” says that in all markets, including the current one, there are sellers who won’t budge from an unrealistically high price because they’re in no rush to move.

“Right now, there are surprisingly many indifferent sellers out there,” he says.

How can you tell which sellers are merely testing the market and will never negotiate seriously with anyone who bids less than their lofty list price?

Tyson recommends you ask your agent to find out if previous offers have come in on the property you want. If the owners have already rebuffed one or more fair offers without so much as a counterbid, this indicates they’ll probably resist reason with you, too.

The good news for buyers is that information on past offers is often readily available through the listing agent.

“Agents are inherently outgoing people. Some have very loose lips and will talk candidly about their clients’ negotiating position and whether it’s worth your while to make a bid that’s well under an excessive asking price,” he says.

While there’s no harm in trying to reason with market testers, Tyson says you can waste a lot of time and energy trying to budge people who won’t even entertain a fair offer. Better to look for someone who’s eager to sell.

“Finding the hungry home seller is the key to getting an extraordinary price,” Tyson says.

If you’re planning to buy in a neighborhood with widely varied properties, it’s helpful to compare the homes on your list on a price-per-square-foot basis. Then adjust for differences in size and home features, such as a larger garage.

“Start with 10 comparable homes and then work your way down to the five most similar ones,” Alexander says.

After estimating the current market value of the place you wish to buy, it’s time to decide how aggressive an offer to make. Alexander says that will depend on how enamored you are with the home.

“You won’t want to push the limits if you’ve fallen in love with the property and feel it’s a ‘do or die’ situation,” she says.

On the other hand, you might choose to make a lower offer if there are other available homes in the neighborhood that would meet your needs equally well.

“It’s always easier to negotiate without emotion if you can find second and third choice houses you also like,” Alexander says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

A couple in their early 30s have pondered homeownership since moving in together three years ago. In the past, they’d scour websites for listings and occasionally stop by open houses. But so far, rising prices and cutthroat competition have discouraged them from making any serious bids.

Now, new numbers on real estate sales are giving cheer to the couple in this true story, and they’re planning to head into the market in a serious way very soon. That’s because the pace of home price increases is slowing and the supply of available property is finally increasing, albeit ever so gradually.

Elizabeth Mendenhall, president of the National Association of Realtors (realtor.org), predicts more wannabe buyers will be entering or re-entering the housing market in the near future.

“The modest uptick in new listings last month is good news for would-be buyers. Listings are still scarce --especially for entry-level homes -- but patience may yield a positive result for those looking to buy in the months ahead,” Mendenhall says.

Ashley Richardson, a veteran real estate agent in suburban Baltimore, is also anticipating more robust sales as an increasing number of prospective buyers move off the sidelines in hopes of finally bagging a property they can afford.

“We’re not there yet, but we’re moving to a more normal playing field between sellers and buyers,” Richardson says.

Daren Blomquist, a senior vice president at Attom Data Solutions (attomdata.com), which tracks housing sales all over the country, cautions that neighborhood markets vary widely. That’s why it’s critical to hire an agent with in-depth experience in the area where you’re searching.

“All real estate is local, and a knowledgeable agent is the key to navigating the market and determining if a particular property is a good deal or not,” Blomquist says.

Here are a few pointers for buyers:

-- Realize that not all sellers are equally motivated.

Tom Early, a former president of the National Association of Exclusive Buyer Agents (naeba.org), says that although the overall economy is faring well, financial duress is still a common reason many homeowners decide to liquidate their property.

“Even today, I’d say the majority of sellers want or need the money they have tied up in home equity,” he says.

Mark Nash, a longtime real estate broker and author of “1001 Tips for Buying and Selling a Home,” advises buyers to determine as much as possible about the sellers’ situation before making an offer.

-- Ask for assistance from your agent on “due diligence.”

“Before making an offer on any property at any time, you’ll want to learn as much as possible about the sellers’ equity position,” Nash says.

He suggests that would-be purchasers ask their agent to research the public records to determine when the present owners bought their house, what they paid and how big a mortgage they took out.

If they bought long before the big housing crash -- around 2008 -- the odds are good they still have substantial equity, unless they gutted most of that with a big home equity loan or a cash-out refinance.

“Sellers with lots of equity have much more latitude for bargaining. They can cut you a reasonable deal and still move away with a check in their pocket,” Early says.

-- Ask your agent to quiz the seller’s listing agent.

Listing agents are sometimes surprisingly candid in responding to questions about their clients’ situation.

“If the owners are under extreme pressure to sell, the listing agent may even tell your agent their true bottom line price to let the house go,” Early says.

-- Don’t rule out “stale” listings.

Most sellers are advised by real estate professionals who help them hit the target when setting the initial list price for their property. But in all markets, there are a few owners who insist on premium pricing because of their emotional ties to their property.

“Some people are just simply bullheaded. They demand more than their homes are worth, even though they have to sell against their will. This is particularly likely among sellers who’ve invested large sums to customize their properties,” Early says.

Ironically, those who price too high at the beginning are ultimately the ones who must sacrifice the most to get their homes sold. That’s because properties that languish on the market soon lose their luster and raise suspicions among prospects.

But eventually some money-strapped sellers with financial problems must wake up and sell at a realistic price or see their properties taken away from them through foreclosure.

Have you fallen in love with a princely place that went on the market months ago at a bloated price? Are you confident the sellers must move soon and will eventually have to take a price cut to get their place sold?

If so, Early urges you to prepare yourself to submit an immediate bid on the property as soon as its owners face reality and take their reduction. Make sure you have a pre-approval letter from a reputable lender showing you have the income and good credit to go through with the deal.

“Sellers who’ve just sobered up and finally cut their price to a realistic level will sometimes succumb to a substantial reduction. It’s at that moment that you should pounce quickly with your fair offer,” Early says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)