So you have drag on the money..

Now the cap rate is in the bucket 5% and the way I figure the property's value is less than what is owed I would say $ 700,000 I really think they are feeding the dragon.

Hasn't impacted the rental desirability in a problematic way, but it would probably be a drag on sales price (at least until that property owner/hoarder passes away or moves on)...

I'm not completely convinced SoCal will see a major recovery in prices for a long time because I think a lackluster economy and higher interest rates will be a drag on appreciation for some time to come.

I am sure that wouldn't drag on forever, and be a total waste of time.

If it was me, I would be calling that the debt monster and looking at ways to use real estate to slay the dragon. 

I agree with @Brian Adams - in the world of apartment investing where debt financing is currently plentiful and inexpensive, having a loan that needs to be assumed is a drag on pricing.  

If you read the notice, most times it will have contact info on it, problem is, most times your going to find the financial institution very unreasonable to work with.They usually want full price on a property that isnt worth anywhere near it, most times it will drag on this way for several years before being auctioned off for a fraction of the price.

While many positive things are happening there are many negatives that are a drag on growth.

All they have to do is drag one heavy thing across it and it is ruined.