I have a friend that bought a house for 160-170k two years ago. He did some fixups (5k-10k), but decided to sell for another investment. He listed his property late friday night (5/6)and sold it on Sunday(5/8). He asked for 220k and the bidding war started! After four to 6 counters between other buyers, they sold it for 257k! Good for him!
I love real estate ;-)