As many have said, it is wonderful to open the closet door and find what you need. I recently moved and I too wanted to downsize my stash. What I did was compact some of my bins of fabric and also donated some that I really, really would not ever use. Why keep it? Let another individual use it. I donated some to a group of students who were making little pillow case dresses for children in Africa. They made 30+ dresses and barely made a dent in what I gave them. They gave back all of the unused fabric.
My goal is to empty one bin or the equivalent of one bin this summer..... by making quilts, donations or ......... ? Problem is....I keep seeing new fabric that I just know I would use.