When buying an older home you are sometimes faced with outdated materials that in some cases can be considered harmful such as lead paint and asbestos. Asbestos was used in different applications and in some older homes it was used in a “cement form” that doesn’t allow the particles to be released unless the siding is cut.
This article from Tom Kraeutler’s Home Improvement Tips & Tricks states that:
I don’t believe having cement asbestos siding would negatively impact your home’s value. It is not dangerous and while it may not be the most trendy siding product out there, it is super durable and does it’s job of protecting your home’s structure quite well.