Someone's making out like a bandit

A builder from Easton bought 802 Lake Avenue from out of the jaws of foreclosure in 2018 for $1.2 milion, began building a new house on the lot in 2021, and it’s now reported under contract. Asking price is $5.850 million. Assuming the buyers will be paying close to that sum, there is plenty of money for the builder coming out of the deal.

One quibble: the listing shows current taxes as $10,977, but that was what they were before the house was completed and a new tax assessed; taxes for 2022 are $21,264. No harm done; the buyers or their attorney will (almost surely) have spotted the discrepancy long before contracts were signed, but, you readers who like to compare taxes on properties, don’t get the wrong impression. On the other hand, the town also appraises the new structure as worth just $2,693,000, so unless you’re the Trump Organization, your results may differ.