SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2012

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Summary of the estimated fair values of assets acquired and assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date:

	October 25, 2010
Land and other inventories	$	57,824
Less: Net liabilities assumed		(5,954	)
Net identifiable assets acquired	$	51,870
Goodwill		17,215
Net assets acquired	$	69,085

Pro forma consolidated statement of operations

The following represents the pro forma consolidated statement of operations as if the JEN Transaction had been included in the consolidated results of AV Homes for the entire year ending December 31, 2010:

	2010
Total revenues	$	66,112
Net Loss	$	37,619

Changes in warranty reserve

During the years ended December 31, 2012, 2011 and 2010, changes in the warranty reserve consist of the following:

	2012			2011			2010
Accrued warranty reserve, beginning of period	$	537			477		$	458
Estimated warranty expense		774			453			517
Amounts charged against warranty reserve		(762	)		(393	)		(498	)
Accrued warranty reserve, end of period	$	549			537		$	477

Reconciliation of the net loss and weighted average shares outstanding for the calculation of basic and diluted loss per share

The following table represents a reconciliation of the net loss and weighted average shares outstanding for the calculation of basic and diluted loss per share for the years ended December 31, 2012, 2011 and 2010:

	2012			2011			2010
Numerator :
Basic and diluted loss per share – net loss attributable to AV Homes	$	(90,235	)	$	(165,881	)	$	(35,108	)
Denominator :
Basic and diluted weighted average shares		12,557,416			12,448,423			11,455,466