CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating activities
Net income	$ 41,015	$ 41,541
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	1,426	1,506
Net change in deferred income taxes	2,154	(2)
Stock based compensation expense	6,260	4,087
Equity in earnings of unconsolidated joint ventures	(2,622)	(3,810)
Distributions from unconsolidated joint ventures	1,840	896
Loss on extinguishment of debt	21,828	0
Net changes in operating assets and liabilities:
Restricted cash	0	504
Receivables	(342)	442
Escrow proceeds receivable	(143)	3,041
Real estate inventories	(98,980)	(146,678)
Other assets	(3,536)	2,806
Accounts payable	9,834	1,040
Accrued expenses	(1,724)	11,649
Net cash used in operating activities	(22,990)	(82,978)
Investing activities
Collection of related party note receivable	0	6,188
Purchases of property and equipment	(2,416)	(773)
Net cash (used in) provided by investing activities	(2,416)	5,415
Financing activities
Proceeds from borrowings on notes payable	105,109	111,992
Principal payments on notes payable	(101,400)	(91,250)
Redemption premium of 8.5% Senior Notes	(19,645)	0
Principal payments of 8.5% Senior Notes	(425,000)	0
Proceeds from issuance of 7% senior notes	446,468	0
Proceeds from borrowings on Revolver	275,000	198,000
Payments on Revolver	(254,000)	(167,000)
Principal payments on subordinated amortizing notes	(5,606)	(5,096)
Payment of deferred loan costs	(9,794)	(792)
Shares remitted to, or withheld by the Company for employee tax withholding	(1,450)	(918)
Payments for Repurchase of Common Stock	(2,284)	0
Excess income tax benefit from stock based awards	0	(238)
Noncontrolling interest contributions	58,829	36,140
Noncontrolling interest distributions	(39,829)	(12,768)
Net cash provided by financing activities	26,398	68,070
Net decrease in cash and cash equivalents	992	(9,493)
Cash and cash equivalents — beginning of period	42,612	50,203
Cash and cash equivalents — end of period	43,604	40,710
Supplemental disclosures:
Cash paid during the period for income taxes	17,079	6,914
Supplemental disclosures of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for new operating lease liabilities	5,213	1,353
Issuance of note payable related to land acquisition	0	32,419
Accrued Deferred Loan Costs	$ 0	$ 43