I have no doubt. I went into a cracker box a few weeks back. It was going for over $170k. I know that's chump change for CA, but for the size it was, it was incredible to me. Nice place, but teeny. And it was being deliberately underpriced so as to get a bidding war going. It had *just* been put on the market and already had many offers on it.
My dads place needed some work. A lot of work. We put it on the market when he went into a home. It had 15 offers in the first week! A developer bought it and lifted roof and added a second floor.
Unrecognizable except for the garage in the back that my grandfather had built for us.