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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Net Cash Provided by (Used in) Operating Activities [Abstract]      
Net income $ 17,141 $ 20,926 $ 21,378
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Deferred taxes (1,073) (918) (1,675)
Noncash deferred tax asset charge 3,190 0 0
Amortization of equity based compensation 2,803 3,471 3,884
Excess income tax provision/(benefit) from stock-based compensation 0 97 (97)
Inventory impairments 2,200 3,500 0
Abandoned project costs 383 580 635
Gain from notes payable principal reduction 0 (250) 0
Distributions of earnings from unconsolidated joint ventures 1,588 3,742 18,477
Equity in net income of unconsolidated joint ventures (866) (7,691) (13,767)
Deferred profit from unconsolidated joint ventures 821 646 (1,603)
Depreciation and amortization 449 511 473
Net changes in operating assets and liabilities:      
Restricted cash 161 396 (97)
Contracts and accounts receivable 4,670 (3,737) (10,796)
Due from affiliates 18 (344) 1,683
Real estate inventories (114,930) (71,388) (65,942)
Other assets (5,255) (756) (3,651)
Accounts payable (9,546) 6,171 9,790
Accrued expenses and other liabilities 7,544 2,921 8,712
Due to affiliates 0 (293) 293
Net cash used in operating activities (90,702) (42,416) (32,303)
Investing activities:      
Purchases of property and equipment (195) (439) (418)
Cash assumed from joint venture at consolidation 995 2,009 0
Contributions and advances to unconsolidated joint ventures (27,479) (15,088) (15,028)
Distributions of capital and repayment of advances to unconsolidated joint ventures 15,577 15,307 32,026
Interest collected on advances to unconsolidated joint ventures 552 0 0
Net cash provided by (used in) investing activities (10,550) 1,789 16,580
Financing activities:      
Net proceeds from issuance of common stock 0 0 47,253
Cash distributions to noncontrolling interest in subsidiary 0 (725) (2,411)
Borrowings from credit facility 88,000 223,050 99,450
Repayments of credit facility (206,000) (179,974) (125,000)
Proceeds from senior notes 324,465 0 0
Borrowings from other notes payable 0 343 3,552
Repayments of other notes payable (4,110) (15,636) (5,171)
Payment of debt issuance costs (7,565) (1,064) 0
Minimum tax withholding paid on behalf of employees for stock awards (590) (648) (248)
Excess income tax (provision)/benefit from stock-based compensation 0 (97) 97
Proceeds from exercise of stock options 102 0 17
Net cash provided by financing activities 194,302 25,249 17,539
Net increase (decrease) in cash and cash equivalents 93,050 (15,378) 1,816
Cash and cash equivalents – beginning of year 30,496 45,874 44,058
Cash and cash equivalents – end of year $ 123,546 $ 30,496 $ 45,874