Federal Real Property Disposal Enhancement Act of 2011

Federal Real Property Disposal Enhancement Act of 2011- Requires the Administrator of the General Services Administration (GSA) to: (1) issue guidance for federal agency real property plans, including recommendations on how to identify and dispose of excess properties, evaluate disposal costs and benefits, and prioritize disposal decisions based on agency missions and anticipated future need for holdings; (2) report to specified congressional committees annually for five years after 2011 on agency efforts to reduce their real property assets; and (3) assist agencies in the identification and disposal of excess real property. Sets forth agency duties with respect to its properties, including maintaining adequate inventory controls and reporting excess property to the Administrator.

Includes among the amounts the Administrator is authorized to obligate from proceeds from the disposition of excess real property: (1) amounts to pay the costs related to identifying and preparing properties to be reported excess by another agency; and (2) amounts to pay the costs associated with the reversion, custody, and disposal of reverted real property. Revises requirements for federal agency retention of proceeds from the transfer or sale of excess real property.

Provides that requirements under the McKinney Vento Homeless Assistance Act for the use of public buildings and real property to assist the homeless shall not apply in FY2012 and FY2013 to certain non-excess federal buildings or real property selected for demolition.