I've lived in a corner house and also had a house where we shared the back yards.
I don't like corner houses, especially if there is a fair amount of traffic on the surrounding streets. You have much less privacy due to the fact that two sides of your home are exposed to "outsiders". And traffic noice, lights from cars at night. I didn't like it. In my opinion the best location for a house is on a cul de sac, in the middle of the straight street leading to the circle. Very little traffic ever comes down a cul de sac street, and only the people on the circle have to worry about car lights shining in at night. Lots of privacy on cul de sac streets, my favorite!
As for sharing back yards. I lived in an area where we each had an acre backing up to each other. And with all the space we never had any problems. With a much smaller lot, it could get bothersome as you say you can't build a fence. If the neighbors are noisy, or entertain a lot, have pets, etc., could be a problem.
We have lived on a corner lot for 24 years and appreciate the opportunity to see what is going on. Since we are on a 'crescent' of about 46 homes, there is not too much traffic. Other than having sidewalk on the side and front to shovel lots of snow, it is not a problem.
As for fencing, you may discover that the neighbours are friendly enough and don't intrude in adjoining yards without fences. If the neighbourhood has been like this for some time, then people must be tolerant of kids roaming across boundaries, etc. And then you can enjoy the wider open spaces too.
Whatever you do, if you purchase the house, don't put in a fence without consulting all the adjoining neighbours. You should have a good reason that will let them know why and that isn't a mistrust of them. You may be able to present options like a chain link vs. wood. People may appreciate being able to see the green of your yard even if they can't 'share' it.
Be sure you have a llegal survey of the property lines. In many areas adjoining property owners are obligated to pay half of a reasonable priced fence. Of couse you won't have to pull teeth to get their share of the cost if you take lots of time to consult and are willing to dialogue and compromise.
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