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Commitments and Contingencies | 9 Months Ended
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Sep. 30, 2015
Commitments and Contingencies [Abstract] |
Commitments and Contingencies Disclosure [Text Block] | Commitments and Contingencies At September 30, 2015, the Company had outstanding approximately $150.8 million of completion bonds and standby letters of credit, some of which were issued to various local governmental entities that expire at various times through September 2026. Included in this total are: (1) $101.2 million of performance and maintenance bonds and $25.3 million of performance letters of credit that serve as completion bonds for land development work in progress; (2) $12.4 million of financial letters of credit, of which $6.5 million represent deposits on land and lot purchase agreements; and (3) $11.9 million of financial bonds. At September 30, 2015, the Company also had options and contingent purchase agreements to acquire land and developed lots with an aggregate purchase price of approximately $495.2 million. Purchase of properties under these agreements is contingent upon satisfaction of certain requirements by the Company and the sellers. The Company and certain of its subsidiaries have been named as defendants in certain claims, complaints and legal actions that are incidental to our business. Certain of the liabilities resulting from these matters are covered by insurance. While management currently believes that the ultimate resolution of these matters, individually and in the aggregate, will not have a material effect on the Company’s financial position, results of operations and cash flows, such matters are subject to inherent uncertainties. The Company has recorded a liability to provide for the anticipated costs, including legal defense costs, associated with the resolution of these matters. However, it is possible that the costs to resolve these matters could differ from the recorded estimates and, therefore, have a material effect on the Company’s net income for the periods in which the matters are resolved. At September 30, 2015 and December 31, 2014, we had $0.5 million and $0.2 million accrued for legal expenses, respectively.

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