Thin magnetic wires can present excellent soft magnetic properties (with coercivities up to 4 A/m), Giant Magneto-impedance effect, GMI, or rectangular hysteresis loops combined with quite fast domain wall, DW, propagation. In this paper we overview the magnetic properties of thin magnetic wires and post-processing allowing optimization of their magnetic properties for magnetic sensor applications. We concluded that the GMI effect, magnetic softness or DW dynamics of microwires can be tailored by controlling the magnetoelastic anisotropy of as-prepared microwires or controlling their internal stresses and domain structure by appropriate thermal treatment.