Sheri Koones is a best-selling author of books on real estate. For more than 20 years, she and her businessman husband relished life in their 6,800-square-foot Mediterranean-style property in a plush suburb of Greenwich, Connecticut.

“It was a fabulous house -- a great gathering place for family and friends,” Koones says.

But after the couple’s two children finished college and moved away to become chefs, they chose to let go of the place they adored, moving to a 1,700-square-foot home in a walkable section of downtown Greenwich. 
Downsizing from the family home, with its five large bedrooms, was a massive undertaking. This involved the sale or donation of many fine furnishings and other accumulations, including more than 1,000 books.

“We let go of 90% of everything we owned,” Koones says. 
Still, the couple are thrilled with their new life in the much smaller in-town property.

“We never had a moment’s regret; we’re happier than ever,” says Koones, who documented the couple’s moving adventure in her book “Downsize: Living Large in a Small House.”

Though the pandemic is easing across America, life with COVID-19 restrictions convinced many young families that big houses are better, especially with parents teleworking and kids spending more time at home. Indeed, many millennials are moving to outer suburbs or rural areas where large properties are more affordable.

But Koones insists that despite the pandemic, a minority of boomers -- born between 1946 and 1964 -- have retained a preference for the simplicity of small-house living. These are often empty nesters moving to city settings or retirement communities.

“There’s a great reshuffling going on,” says Susan Daimler, president of Zillow, a national real estate company.

Of course, not all downsizers are making voluntary moves. A fair number are leaving their large properties due to health or financial issues. But whether a move is voluntary or not, it can evoke bittersweet memories that delay the purging necessary for a move.

“Procrastinators have a hard time making decisions. They’re afraid they’ll regret getting rid of something, so they just let it sit,” says Claire Middleton, author of “The Sentimental Person’s Guide to Decluttering.”

Donna Leanos, a veteran real estate agent, recommends that downsizers consider hiring a firm that specializes in assisting with smooth transitions. Known as “move managers,” such companies offer downsizers a package of services. They help cull through the sellers’ possessions and arrange for the sale or donation of valuables. They also help handle the logistics of the move.

Assuming you can afford it, Leanos says it’s often easier to rely on a move manager than to turn to relatives for help.

How can you find a move manager in your area? One way is through the website of the National Association of Senior and Specialty Move Managers: nasmm.org.

Those who need less extensive help to downsize might wish to use the services of a professional organizer -- if only to help develop a step-by-step action plan. A local organizer can be found through the National Association of Productivity & Organizing Professionals (napo.net).

Here are a few pointers for those downshifting their housing:

-- Get started as early as possible.

Donna Eichelberger, who heads a move management firm for seniors, says many of her clients wait until their early 80s to make plans for a move. At that point, a health crisis can force the need to relocate on an urgent basis.

“Often, it’s a fall down the stairs that compels people to make an urgent move to a retirement community or an assisted-living facility,” Eichelberger says.

She says the most successful downsizers are those who anticipate the need to move well in advance of a possible health crisis.

“The happiest people are the ones who embrace change rather than resisting it,” according to Eichelberger.

-- Allow sufficient time for the home-editing process.

Vicki Norris, a former real estate agent and professional organizer, says it can take up to 24 work hours to declutter the average-sized room. To avoid becoming sidetracked, she says many home sellers need allies.

“(I)t’s good to have people there to keep your move in perspective and perhaps to lend some humor to the situation,” says Norris, author of “Restoring Order to Your Home.”

Are you unable to afford professional services for your move? If so, Norris suggests you request that friends come by to at least lend moral support.

-- Query family members about items they’d like to keep.

Older downsizers often hang onto nostalgic items they believe their grown children might want “someday.” But Norris says many parents believe their offspring will want many more things than they do -- including their childhood storybooks and grade-school art.

Norris suggests that downsizers ask grown children what items they value.

-- Create a memory book with photos of your place.

When Norris’ baby-boom-age parents retired and put their family home up for sale, they did so voluntarily. Even so, they found it emotionally thorny to let go of a residence where they’d lived for 28 years.

Still, the process of downsizing was eased after their listing agent gave them a book of photos showing all their rooms and furnishings just as they looked before the home was staged for sale.

“That way they were able to seal their memories --including how the dining room table looked when their whole extended family came over for Thanksgiving dinners,” Norris says.

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

After plugging in their home address to online real estate websites such as Zillow or Redfin, many homeowners feel elated and house-rich. After all, the value of their property as estimated by these companies has likely skyrocketed in recent months.

But for those hoping to sell and move, the euphoria wears off quickly after they’ve scouted alternative places to own, given the scarcity of available options.

"Inventories are extremely tight now, making it tough to find a suitable property. Then, due to the buying frenzy, many purchasers face a bunch of other bidders. This forces them to make snap decisions without much forethought," says Keith Gumbinger, a vice president at HSH Associates, which tracks mortgage markets throughout the country.

In areas with overheated markets, Gumbinger says some owners are rethinking plans to sell. Instead, they’re opting to refinance their property and take cash out to renovate their home more to their liking.

"These folks debated long and hard whether to move or improve, and they’re choosing to improve. They don’t relish having their house torn apart for a major renovation. But that makes more sense to them than an expensive move," he says.

Marc Zitelman, a veteran mortgage broker, says many equity-rich owners who are opting to improve rather than move fall into the boomer population cohort, born between 1946 and 1964.

For instance, Zitelman tells the true story of a couple in their 60s -- a special education teacher married to a sales executive -- who abandoned plans to move in favor of a large-scale remodeling project for their four-bedroom colonial.

"Their two kids are grown and through college, so they don’t really need the extra space. Yet they’ve decided on a complete remodeling of their kitchen and bathrooms, plus a rebuilding of their deck," he says.

Two sets of numbers are prompting some older owners to renovate rather than sell and buy a different property.

"At this point in time, prices have gone up more than mortgage rates have gone down," says Zitelman, who’s worked in the home finance field for more than 20 years.

Many owners with good credit scores and solid jobs can qualify for a home equity line of credit, also known as a HELOC. This is a revolving loan that lets borrowers tap their equity at a rate lower than through a credit card. Still, Gumbinger says prospective remodelers can access even lower-cost funds through a cash-out mortgage refinance.

"As always, it’s smart to shop around before you apply for any kind of home financing. If you’re refinancing, one good place to start is with the lender who currently holds your mortgage," he says.

Here are a few pointers for those intent on a cash-out refi:

-- Investigate your credit situation before starting the refinance process.

A major factor limiting mortgage market access involves what Gumbinger calls a "a severe deterioration of credit." This could result from late payments on your mortgage or a delinquent student loan.

The most common indicators of creditworthiness used by mortgage lenders involve credit scores. Lenders assume that the higher your score, the less risk you represent to those who lend you money.

Credit scores typically range between 300 and 850, and if you rank low that could severely hinder your chance of refinancing to a lower rate.

Still, Gumbinger says many owners with a few credit blemishes are actually surprised to find that their scores are higher than expected.

Under federal law, consumers have free access to credit reports on a yearly basis through annualcreditreport.com. Alternatively, you can purchase credit reports and score information through the three major credit bureaus: TransUnion, Experian and Equifax, or by going to the website of Fair Isaac Corp. (myfico.com).

"If you know your numbers, you’re less likely to get bamboozled into paying too much to refinance," he says.

-- Look for lenders who process loans in a timely way.

"Within reason, I would leave no stone unturned in looking for the right place to refinance," Gumbinger says.

Some owners are comfortable using a lender from a faraway state that they’ve found online. But Gumbinger says those who are anxious about the process are often more at ease with a nearby lender.

"It’s important to realize that rates are quite uniform throughout the country. So you’re not necessarily going to get a better deal from a lender in a distant location. In addition, you’ll probably have a happier customer service situation locally," Gumbinger says.

One obvious way to search for a customer-friendly lender is to ask friends, neighbors or colleagues about companies they’ve used. Or you can seek out referrals from the real estate agent who sold you your current home. Agents usually keep a short list of lenders whom they’ve found reliable.

-- Take advantage of online mortgage calculators.

Gumbinger is a big fan of the online information available to mortgage hunters.

Nowadays, there’s no need to rely on the lender to give you the data you need to compare mortgage options. You can use online calculators to adjust for different factors, including the amount borrowed and the full term (duration) of the loan.

One of many websites offering free online calculators is that of Gumbinger’s firm, HSH Associates (hsh.com). Another popular site for refinance information is bankrate.com.

"Calculators are great for comparing various refinance scenarios," he says.

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

As a wannabe home seller in the still-hot housing market, perhaps you imagine that many listing agents are earning huge windfalls. After all, commissions are ascending along with housing values. And in popular neighborhoods, homes are selling at lightning speed.

But many agents are less than euphoric about current market conditions. That’s because there’s a severe shortage of inventory available to list. Meanwhile, more people have entered the real estate field -- including those who lost jobs in the retail, restaurant and hospitality sectors. This has also intensified competition among agents.

Since the pandemic started, membership in the National Association of Realtors (nar.realtor) has increased substantially. It’s now the largest trade association in the nation, with more than 1.4 million members.

“(A)gents are presently facing a tremendous battle to obtain listings -- especially for newcomers to the field who receive fewer word-of-mouth referrals,” says Sid Davis, a veteran real estate broker and author of “A Survival Guide to Selling a Home.”

No matter the number of available agents, homeowners intent on selling should exercise great care in selecting a listing agent, says Eric Tyson, a personal finance expert.

“It’s all too common for sellers to take a trivial approach to hiring a listing agent. ... But selling success depends on due diligence,” says Tyson, the co-author of “Selling Your House for Dummies.”

Granted, some owners do well on their sale without a highly qualified agent -- particularly if they’re lucky enough to live in an area where the market remains robust. But real estate specialists caution against overconfidence, especially at a time when there are crosscurrents in the economy, as there are now.

Whether your home sale is voluntary or involuntary, Tyson says it’s critical you make agent selection a priority.

“Treat hiring an agent as seriously as you would any professional,” Tyson says.

Ron Phipps, a real estate broker and past president of the National Association of Realtors, says more sellers are gradually getting the message about the importance of careful agent selection.

“It used to be that a lot of people would just call in a family member or friend who happened to have a real estate license. The good news is that sellers are now searching more widely,” he says.

Here are a few pointers for sellers:

-- Interview at least two to four candidates.

Without interviewing other contenders, you may be tempted to hire the first agent who comes recommended. But Phipps says it’s still wise to also interview other candidates.

“When you talk to several people, you’ll get different perspectives on your sale,” Phipps says. “Several opinions on pricing can be especially helpful.”

Even now, he says you should be wary of any agent who suggests you list your place for more than 10% above what others say is its fair market value.

“Find out how they arrived at that higher price,” says Phipps, noting that occasionally some agents may suggest an above-market list price as a way to flatter you into hiring them. This practice is known as “buying the listing.”

“It’s a shortsighted listing strategy,” says Phipps, who’s worked for his family-owned real estate firm for more than four decades.

-- Screen for local knowledge of your market.

Your uncle or that highly recommended friend-of-a-friend might be an excellent real estate agent. But should you consider hiring this person if their office is located a significant distance away from your place?

Absolutely not, says Tyson, who contends that a faraway agent is likely to be much less effective in marketing your property than one who knows your local turf well.

“Anyone who works more than a 15-minute drive from your place is probably a very poor bet. Geography matters a lot,” he says.

It’s especially wise to have an agent close by if you’re trying to sell a property in a city setting -- such as a condo in a high-rise building. In such a case, the ideal agent is typically someone with proven experience selling units in your same building.

“Agents with an intimate knowledge of the floor plans and sales history of your complex can hit the pricing target right the first time. That spares you the agony of multiple pricing adjustments later,” Tyson says.

Realtors call the area where they most often sell homes their “farm.” As Tyson says, agents who say they farm your area should be able to demonstrate this with a list of transactions they’ve done there recently.

-- Ask about a candidate’s awards and honors.

How can you identify agents who have achieved an unusual level of expertise? Phipps says one way to distinguish among agents is to ask if they’ve been elected to positions of leadership within their professional groups.

“This shows they have a reputation for collaborating with other real estate people,” Phipps says. That’s important, he says, because real estate is a cooperative profession, and a successful sale typically involves more than one agent.

-- Choose an agent with a proven deal-closing record.

In a transitional period like the current one, many sellers are understandably nervous that complications along the way to closing might jettison their deal. That’s because qualifying for a mortgage is trickier than it was prior to the last real estate downturn of 2008.

“Selling has become much more complicated. So it’s smart to find an agent with experience handling many different kinds of transactions. Look for their record of closing deals, not just taking listings,” Phipps says.

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