A retired diplomat in his late 60s was compelled to leave his spacious family home due to an injury. Hence, he and his wife moved to a retirement community and put their three-story colonial up for sale.

Located in a plush neighborhood where available properties are still scarce, the house attracted multiple bidders. It was soon acquired by a married couple of engineers who were anxious to move up to the prestigious community that featured strong schools and a popular dog park.

Fred Meyer, an independent real estate broker and appraiser who sells property near Harvard University, doesn’t know the diplomat in this true story. But he’s not surprised by the tale because an increasing number of owners from the baby boom generation -- born between 1946 and 1964 -- are finally selling their homes, often after a health crisis.

Indeed, Zillow, a Seattle-based firm that tracks housing markets throughout the country, is now predicting a “silver tsunami” as an increasing number of older owners put their properties on the market.

The company estimates that roughly 730,000 U.S. homes owned by those over 60 are now sold annually. But by 2027, that number should increase to between 920,000 and more than a million per year, according to its research.

Would you like to sell your current property in favor of a larger one where your family could thrive? If so, these few pointers could prove helpful:

-- Look for highly motivated sellers.

The owners of upscale homes are no different from any other category of sellers: Some are a lot more driven to sell than others, says Dorcas Helfant, a real estate broker-owner and former president of the National Association of Realtors (realtor.org).

Some owners have no particular timeline pushing them out the door. Such “discretionary sellers” would like to liquidate but are willing to delay their plans in hopes of obtaining a better price later.

Conversely, motivated sellers have well-defined reasons for moving. Besides financial and health issues, there are positive reasons why some boomers seek to sell quickly. For example, the birth of a first grandchild can intensify their desire to move closer to their grown children.

As a move-up buyer, why should you care if the owners of a home you like are in a rush to sell? Because hurried sellers are much more likely to negotiate in earnest.

If you question sellers on their reasons for moving, many will give you or your agent candid answers to polite inquiries.

-- Don’t exclude from consideration homes that have gone “stale.”

On occasion genuinely motivated sellers hold out longer than they should, reducing their overly high list price only after becoming desperate.

“Even in premium neighborhoods, people who overshoot on price and then fail to sell for many months can be forced to drop their price below market value after buyer interest drops off,” Helfant says.

Their problem is that homes that linger too long on the market become stigmatized.

“It can take a while for some otherwise motivated homeowners to realize they’ve been asking way too much. But if you’re willing to wait, you might be rewarded for your patience,” Helfant says.

-- Consider communities where inventory is increasing.

Despite the likelihood of greater availability of property due to more boomer sales, there are still a number of tight markets where sellers continue to rule. As would-be trade-up buyers, you could do well to prioritize areas where For Sale properties are more abundant.

“You’ll do better if there’s a great deal of inventory, which translates to more competition for the sellers,” Helfant says.

-- Stay focused on your ultimate goal.

Among those hoping to take advantage of low mortgage rates to better their housing situation are parents with school-age kids who clamor for sleepovers and a large rec room where they can enjoy time with friends. Many move-up buyers also hanker for such luxury features as large gardens, at-home fitness centers and customized garages to house motorcycles or sports cars.

Striking a favorable financial deal is always a positive for buyers. But for many seeking to move to a larger habitat, acquiring the exact place they want -- whether that be a city loft, a suburban manse or a country estate -- obtaining the home of their dreams can be even more important.

“Remember, when you trade up, you’re buying for lifestyle. You’re looking for that perfect location, that perfect view or that perfect refuge from the world where you can find peace. For that reason, it’s more than just price alone that counts,” Helfant says.

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

In many ways, real estate specialists say it’s both the best and most challenging of times for homebuyers.

“Mortgage rates are now almost unbelievably low, making it inexpensive to finance a home. Jobs are more secure, and people feel richer because their retirement funds are growing,” says Michael Crowley, a real estate broker working with buyers since 1992.

But given tight inventories of available homes in popular markets, he notes many purchasers still find it extremely stressful competing with other would-be owners.

“To win against other contenders, the urge to overpay is still there,” says Crowley, a past president of the National Association of Exclusive Buyer Agents (naeba.org).

The quest to own property is especially intense among potential first-time owners, who represent nearly a third of all home purchasers and were a significant factor pushing up overall sales in October, according to Lawrence Yun, chief economist for the National Association of Realtors (realtor.org).

When it comes to shaping an offer for a property you like, Crowley cautions against letting your emotions get the best of you, even if you’re enamored of the property and are competing with rival bidders.

“You can’t always count on appreciation to bail you out if you have to sell and move unexpectedly in two or three years. Remember too, there are high transaction costs involved in selling one house and buying another,” he says.

Crowley recommends that buyers set a ceiling on how high they’ll go and stick to that limit.

“Base your highest potential bid on both recent sales in the same neighborhood and what you can afford. Then put that top number on an index card and carry it in your pocket when you go to your agent’s office to write up any offer or counteroffer,” he says.

Here are a few other tips for buyers:

-- Plan ahead before zeroing in on a neighborhood.

Too many buyers let emotion dominate their decision on where to live, says Michael Knight, a financial adviser affiliated with the Garrett Planning Network.

“Many people pick a neighborhood too quickly,” says Knight, who recommends you compare several areas before making your pick.

“You’ve got to do plenty of research. Have an informal talk with a few knowledgeable real estate agents in any area you’re considering,” he says.

Which neighborhoods are most likely to hold or gain value in the future? Knight says top quality public schools are critical, particularly now that private schools are out of reach financially for many families.

Access to quality public transit is also high on the list.

When talking to real estate agents, ask them to show you the neighborhood’s amenities on a map. Also, ask them to assemble data for you on sales trends in the community -- including the median time it takes to sell a home there.

-- Search for sellers who are motivated to move.

As a would-be buyer, you may feel uncomfortable about seeking out owners who must sell quickly due to the loss of a job or mortgage payments that are too high for their income. But Crowley says you needn’t feel guilty about doing so.

“You could actually be doing the sellers a favor in such a case. Even if you buy at a discount off the current market value, the owners will likely do better selling to you than they would if the bank took away the house and ruined their credit in the process,” he says.

How can you identify highly motivated sellers before the foreclosure process begins? Obviously, your agent can often find them through the Multiple Listing Service. An additional approach is to walk around the neighborhood on a weekend, striking up informal conversations with residents there.

“On a Saturday or Sunday, you will likely encounter residents who are out walking their dogs or taking their kids to the park. If you’re friendly and express your admiration for their area, they’ll likely chat openly with you and tell you neighbors they know who intend to move soon and the reasons why,” Crowley says.

-- Research property values in the area where you wish to live.

Once you’ve chosen a neighborhood where property values are solid and you’ve found your dream home there, you’ll want to carefully assess its true current value before formulating a bid.

“With rumors about a potential recession in the near future, it’s vitally important you obtain a true ‘opinion of value’ to ensure your bid is at the right level,” Crowley says.

To help develop a realistic estimate of the worth of the home you wish to buy, ask your agent to provide you with statistics on properties that have sold in recent weeks -- the fresher the data, the better. Make sure this analysis takes into account any likely “distress sales” that have occurred lately, which often come at a sacrificial price for the sellers.

“Even if we face a recession, it’s unlikely that prices will plummet in coming years. Still, it’s a very good idea to resist overpaying, even if you love the house. Should you have to walk away from one house you like, I guarantee you’ll find another one that’s an equal or better choice. All that it may take is your patience,” Crowley says.

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

Rental rates are rising ever higher, especially in popular metro areas where young adults wish to live. That’s tempting more boomers on the verge of retirement to postpone the sale of their home in favor of renting it out.

At CoreLogic, a think tank that tracks housing markets nationwide, principal economist Mary Boesel says rents are ascending most quickly for entry-level properties.

“Low rental supply coupled with ongoing demand is pushing up rents compared with a year ago,” Boesel says.

Mark Nash, a longtime real estate broker and analyst and author of “1001 Tips for Buying and Selling a Home,” says boomers who are uncertain where they’ll wish to settle after retirement are sometimes well advised to delay liquidating a family home. That way they could try out a new locale with a short-term rental of their own.

Another reason some boomers are postponing a home sale is that the real estate market -- always slower in winter -- looks more uncertain than usual for 2020.

Todd Teta, a senior official at Attom Data Solutions, says that despite low mortgage rates, the pace of home price increases could slow next year due to fears of a possible recession and political uncertainties.

But real estate specialists caution that converting your family home into a rental can bring unpredictable complications. Here are a few pointers:

-- Take into account all the expenses associated with a rental.

Most homeowners want to ensure they would make money on their rental. They want to be certain their rental income will more than cover their monthly mortgage payments, taking into account their property tax and insurance charges.

When assessing the financial impact of converting your place to a rental, even a temporary one, Nash says you should be sure to factor in the expense of home upkeep.

“Remember that if the bathroom plumbing develops problems, you’ll probably need to pay a plumber rather than fixing it yourself as you might have done when you lived in the house,” he says.

As Nash says, you’ll also want to consider the tax implications of a rental. To do so, he recommends you call or visit an accountant for advice.

-- Realize you’ll likely need to empty your place of tenants before you sell.

As real estate agents attest, it can be tough to sell a home while tenants are living there.

“As a rule, tenants don’t care if you sell. They might even become annoyed and block showings. Or they could deliberately leave the house like a pig pen -- with dirty dishes in the sink and unmade beds -- so you won’t be able to sell and they won’t have to move,” Nash says.

To avoid this potential problem, he recommends you plan to have the property vacated of tenants for at least a month before it goes up for sale and while the place is being shown. With the tenants gone, you can ensure that any cosmetic or repair issues are resolved.

“Among other things, you’ll probably want to do some interior painting and get your carpeting thoroughly cleaned,” Nash says.

-- Consider hiring a professional manager to handle your rental.

Perhaps you’ve decided it’s a smart choice to rent out your place for a year or so before selling it. Yet you don’t want all the headaches of dealing with landlord issues on a day-to-day basis.

In such cases, Nash says it’s sensible to consider hiring a professional manager to deal with tenants, sparing you the need for direct contact. You’ll still have to pay the repair bills, of course. But you won’t need to take those late-night calls from irate renters.

“You’re faced with demands you can’t push off onto someone else, unless you have a property manager,” says Nash, who’s long owned rental property.

-- Attempt to damage-proof your place before tenants move in.

When they sell their home, most people cut the emotional cord and move on psychologically. Not so when the owners are merely renting out the property.

“So long as they continue to own a place, most people are still territorial about it,” Nash says.

There are no guarantees your home won’t sustain serious damage while it’s rented. But Nash advises you to take several steps to minimize your risks. Repaint walls covered with flat latex paint with an easy-to-clean semi-gloss finish. Seal your hardwood floors with two or more coats of protective coating. And replace valuable light fixtures with inexpensive ones purchased at a home center store.

“Keep your eye on the ball. With a short-term rental, your goal is not to become a professional landlord. The idea is to keep your options open until the timing and circumstances are right for you to move back in or sell,” Nash says.

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