Hello, We're local agents who live in Lebanon. I don't see an actual address associated with this property or we might be able to provide you some insight into the details. Our experience with area lender owned properties is that there are often condition issues. With no one occupying them, they're prone to deterioration and a drop in value. We've encountered homes with significant mold issues, broken pipes, vandalism and theft inside of furnace parts.
By itself, one lender owned property by itself isn't going to pull down the neighborhood values provided there are other sales holding "normal" value. The problem is when a neighborhood has an abundance of foreclosed homes, and unfortunately that may lead to depressed values for everyone.
Bill & Liz Spear