Real Estate News – May 20, 2012

Thousands of condo-unit owners and buyers could soon be in line for some welcome news on mortgage financing: Though officials are mum on specifics, the Federal Housing Administration is readying changes to its controversial condominium rules that have rendered large numbers of units ineligible for low down payment, insured mortgages (via

Foreclosure activity sinks to a five-year low (via

In a real estate shopping spree of epic proportions, the daughters of Formula 1 Racing boss Bernie Ecclestone have snapped up hundreds of millions of dollars worth of high-profile properties in the past 18 months (via

The Bay Area real estate market might be in a mini housing bubble that’s being fueled by Facebook’s IPO (via

Lesbian couple charged with staging anti-gay offense to accuse HOA after spat over dogs (via

Real estate agents help local ‘heroes’ buy homes (via

In an effort to curb foreclosures, Bank of America is offering some of its defaulting home owners relocation assistance of anywhere from $2,500 to as much as $30,000 if they agree to complete a short sale (via REALTORMag):