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Debt Disclosure (Details) - USD ($) |  |  | 12 Months Ended |  |  |  |  |  |  |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Aug. 26, 2020 | Aug. 08, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Aug. 08, 2026 | Aug. 08, 2025 | Aug. 08, 2024 | Dec. 28, 2021 | Feb. 25, 2021 | Aug. 08, 2020 | Dec. 15, 2015
Debt Disclosure [Abstract] |  |  |  |  |  |  |  |  |  |  |  |
Debt Disclosure [Text Block] |  |  | 7. DEBT The aggregated annual principal payments under the borrowings on lines of credit and senior unsecured notes over the next five years as of December 31, 2021 are (in thousands):
2022 | $ | 2,000 |
2023 | — |
2024 | 37,500 |
2025 | 37,500 |
2026 | 75,000 |
Thereafter | 187,500 |
Total | $ | 339,500 |
Lines of Credit Borrowings on lines of credit outstanding, net of debt issuance costs, as of December 31, 2021 and 2020 consist of the following (in thousands):
| December 31, 2021 |  | December 31, 2020
Secured Revolving Credit Facility | $ | 2,000 |  |  | $ | 7,000 |
Unsecured Revolving Credit Facility | — |  |  | 101,000 |
Debt issuance costs, net of amortization | (2,738) |  |  | (1,313) |
Total borrowings on lines of credit, net | $ | (738) |  |  | $ | 106,687 |
Secured Revolving Credit Facility The Company is party to a revolving credit facility (the “Secured Revolving Credit Facility”) with Inwood National Bank, which provides for an aggregate commitment amount of $35.0 million. On May 22, 2020, the Company amended the Secured Revolving Credit Facility to reduce the aggregate commitment amount of $75.0 million to $35.0 million. Amounts outstanding under the Secured Revolving Credit Facility are secured by mortgages on real property and security interests in certain personal property (to the extent that such personal property is connected with the use and enjoyment of the real property) that is owned by certain of the Company’s subsidiaries. The entire unpaid principal balance and any accrued but unpaid interest is due and payable on the maturity date. As of December 31, 2021, the maturity date of the Secured Revolving Credit Facility is May 1, 2022. On February 9, 2022, the Company entered into the Eighth Amendment to this credit agreement to extend its maturity date to May 1, 2025 and to reduce the minimum interest rate from 4.00% to 3.15%. All other material terms of the credit agreement, as amended, remained unchanged. As of December 31, 2021, letters of credit outstanding totaling $0.2 million reduced the aggregate maximum commitment amount to $34.8 million. As of December 31, 2021, outstanding borrowings under the amended Secured Revolving Credit Facility bear interest payable monthly at a floating rate per annum equal to the rate announced by Bank of America, N.A., from time to time, as its “Prime Rate” (the “Index”) with such adjustments to the interest rate being made on the effective date of any change in the Index, less 0.25%. Notwithstanding the foregoing, the interest may not, at any time, be less than 4% per annum or more than the lesser amount of 18% and the highest maximum rate allowed by applicable law. As of December 31, 2021, the interest rate on outstanding borrowings under the Secured Revolving Credit Facility was 4.00% per annum. The Secured Revolving Credit Facility is subject to a borrowing base limitation equal to the sum of 50% of the total value of land and 65% of the total value of lots owned by certain of the Company’s subsidiaries, each as determined by an independent appraiser, with the value of land being restricted from being more than 65% of the borrowing base. The amended Secured Revolving Credit Facility is also subject to a non-usage fee equal to 0.25% of the average unfunded amount of the commitment amount over a trailing 12 month period. Under the terms of the amended Secured Revolving Credit Facility, the Company is required, among other things, to maintain minimum multiples of tangible net worth in excess of the outstanding Secured Revolving Credit Facility balance, minimum interest coverage and maximum leverage. The Company was in compliance with these financial covenants under the Secured Revolving Credit Facility as of December 31, 2021. De minimis fees and other debt issuance costs were incurred during each of the years ended December 31, 2021, 2020 and 2019, associated with the Secured Revolving Credit Facility amendments. These costs are deferred and reduce the carrying amount of debt in our consolidated balance sheets. The Company subjects these costs to analysis for capitalization to inventory over the term of the Secured Revolving Credit Facility using the straight-line method, which approximates the effective interest rate method for our senior unsecured notes and notes payable. Unsecured Revolving Credit Facility The Company is party to a credit agreement, providing for a senior, unsecured revolving credit facility (the “Unsecured Revolving Credit Facility”). The Unsecured Revolving Credit Facility provides for maximum aggregate lending commitments of up to $325.0 million of which the Company has secured outstanding commitments of $300.0 million. On December 10, 2021, the Company amended the Unsecured Revolving Credit Facility to increase the aggregate commitment amount from $275.0 million to $300.0 million. As amended, the Unsecured Revolving Credit Facility’s lender group is comprised of eight banks including Flagstar Bank, Veritex Community Bank, Huntington National Bank, Texas Capital Bank, Goldman Sachs Bank USA, BancorpSouth Bank, Woodforest National Banks, and MidFirst Bank. The termination date with respect to commitments under the Unsecured Revolving Credit Facility is December 14, 2024 for $300.0 million. The Unsecured Revolving Credit Facility provides for interest rate options on advances at rates equal to either: (a) in the case of base rate advances, the highest of (1) Citibank’s base rate, (2) the federal funds rate plus 0.5%, and (3) the one-month LIBOR plus 1.0%, in each case plus 1.5%; or (b) in the case of Eurodollar rate advances, the reserve adjusted LIBOR plus 2.5%. Interest on amounts borrowed under the Unsecured Revolving Credit Facility is payable in arrears on a monthly basis. As of December 31, 2021, there were no outstanding borrowings under the Unsecured Revolving Credit Facility. The Company pays the lenders a commitment fee on the amount of the unused commitments on a quarterly basis at a rate per annum equal to 0.45%. Outstanding borrowings under the Unsecured Revolving Credit Facility are subject to, among other things, a borrowing base. The borrowing base limitation is equal to the sum of: 100% of unrestricted cash in excess of $15.0 million; 85% of the book value of model homes, construction in progress homes, completed sold and speculative homes (subject to certain limitations on the age and number of speculative homes and model homes); 65% of the book value of finished lots and land under development; and 50% of the book value of entitled land (subject to certain limitations on the value of entitled land and land under development as a percentage of the borrowing base). Fees and other debt issuance costs of $2.8 million, $0.5 million and $0.3 million were incurred during the years ended December 31, 2021, 2020 and 2019, respectively, associated with the amendments, term extensions and increases in lenders’ commitments. These costs are deferred and reduce the carrying amount of debt in our consolidated balance sheets. The Company capitalizes these costs to inventory over the term of the Unsecured Revolving Credit Facility using the straight-line method, which approximates the effective interest rate method for our senior unsecured notes and notes payable. Under the terms of the Unsecured Revolving Credit Facility, the Company is required to maintain compliance with various financial covenants, including a maximum leverage ratio, a minimum interest coverage ratio, and a minimum consolidated tangible net worth. The Company was in compliance with these financial covenants under the Unsecured Revolving Credit Facility as of December 31, 2021. Senior Unsecured Notes On August 8, 2019, the Company entered into a Note Purchase Agreement with Prudential Private Capital to issue $75.0 million aggregate principal amount of senior unsecured notes (the “2026 Notes”) due on August 8, 2026 at a fixed rate of 4.00% per annum in a Section 4(a)(2) private placement transaction. The Company received net proceeds of $73.3 million and incurred debt issuance costs of approximately $1.7 million that were deferred and reduced the amount of debt on our consolidated balance sheet. The Company used the net proceeds from the issuance of the 2026 Notes to repay borrowings under the Company’s existing revolving credit facilities. Principal on the 2026 Notes is required to be paid in increments of $12.5 million on August 8, 2024 and $12.5 million on August 8, 2025. The final principal payment of $50.0 million is due on August 8, 2026. Optional prepayment is allowed with payment of a “make-whole” penalty which fluctuates depending on market interest rates. Interest is payable quarterly in arrears commencing November 8, 2019. On August 26, 2020, the Company entered into a Note Purchase Agreement with The Prudential Insurance Company of America and Prudential Universal Reinsurance Company to issue $37.5 million aggregate principal amount of senior unsecured notes (the “2027 Notes”) due on August 26, 2027 at a fixed rate of 3.35% per annum in a Section 4(a)(2) private placement transaction. The Company received net proceeds of $37.4 million and incurred debt issuance costs of approximately $0.1 million that were deferred and reduced the amount of debt on our consolidated balance sheet. The Company used the net proceeds from the issuance of the 2027 Notes to repay borrowings under the Company’s existing revolving credit facilities and for general corporate purposes. Optional prepayment is allowed with payment of a “make-whole” penalty which fluctuates depending on market interest rates. Interest is payable quarterly in arrears commencing on November 26, 2020. On February 25, 2021, the Company entered into a Note Purchase Agreement with several purchasers to issue $125.0 million aggregate principal amount of senior unsecured notes (the “2028 Notes”) due on May 25, 2028 at a fixed rate of 3.25% per annum in a Section 4(a)(2) private placement transaction. The Company received net proceeds of $124.4 million and incurred debt issuance costs of approximately $0.6 million that were deferred and reduced the amount of debt on our consolidated balance sheet. The Company used the net proceeds from the issuance of the 2028 Notes to repay borrowings under the Company’s existing revolving credit facilities and for general corporate purposes. Principal on the 2028 Notes is due in increments of $25.0 million on February 25, 2024; $25.0 million on February 25, 2025; $25.0 million on February 25, 2026; $25.0 million on February 25, 2027 and $25.0 million on February 25, 2028. Optional prepayment is allowed with payment of a “make-whole” penalty which fluctuates depending on market interest rates. Interest is payable quarterly in arrears commencing on May 25, 2021. On December 28, 2021, the Company entered into a Note Purchase Agreement with several purchasers to issue $100.0 million aggregate principal amount of senior unsecured notes (the “2029 Notes”) due on December 28, 2029 at a fixed rate of 3.25% per annum in a Section 4(a)(2) private placement transaction. The Company received net proceeds of $99.6 million and incurred debt issuance costs of approximately $0.4 million that were deferred and reduced the amount of debt on our consolidated balance sheet. The Company used the net proceeds from the issuance of the 2029 Notes to repay borrowings under the Company’s existing revolving credit facilities and for general corporate purposes. Principal on the 2029 Notes of $30.0 million is due on December 28, 2028. The remaining principal amount of $70.0 million is due on December 29, 2029. Optional prepayment is allowed with payment of a “make-whole” penalty which fluctuates depending on market interest rates. Interest is payable quarterly in arrears commencing on March 28, 2022. Under the terms of the senior unsecured notes, the Company is required, among other things, to maintain compliance with various financial covenants, including maximum leverage ratios, a minimum interest coverage ratio, and a minimum consolidated tangible net worth. The Company was in compliance with these financial covenants under the Senior Unsecured Notes as of December 31, 2021. The senior unsecured notes are guaranteed on an unsecured senior basis by the Company’s significant subsidiaries and certain other subsidiaries. The senior unsecured notes will rank equally in right of payment with all of the Company’s existing and future senior unsecured and unsubordinated indebtedness. |  |  |  |  |  |  |  |  |
Debt |  |  | 7. DEBT The aggregated annual principal payments under the borrowings on lines of credit and senior unsecured notes over the next five years as of December 31, 2021 are (in thousands):
2022 | $ | 2,000 |
2023 | — |
2024 | 37,500 |
2025 | 37,500 |
2026 | 75,000 |
Thereafter | 187,500 |
Total | $ | 339,500 |
Lines of Credit Borrowings on lines of credit outstanding, net of debt issuance costs, as of December 31, 2021 and 2020 consist of the following (in thousands):
| December 31, 2021 |  | December 31, 2020
Secured Revolving Credit Facility | $ | 2,000 |  |  | $ | 7,000 |
Unsecured Revolving Credit Facility | — |  |  | 101,000 |
Debt issuance costs, net of amortization | (2,738) |  |  | (1,313) |
Total borrowings on lines of credit, net | $ | (738) |  |  | $ | 106,687 |
Secured Revolving Credit Facility The Company is party to a revolving credit facility (the “Secured Revolving Credit Facility”) with Inwood National Bank, which provides for an aggregate commitment amount of $35.0 million. On May 22, 2020, the Company amended the Secured Revolving Credit Facility to reduce the aggregate commitment amount of $75.0 million to $35.0 million. Amounts outstanding under the Secured Revolving Credit Facility are secured by mortgages on real property and security interests in certain personal property (to the extent that such personal property is connected with the use and enjoyment of the real property) that is owned by certain of the Company’s subsidiaries. The entire unpaid principal balance and any accrued but unpaid interest is due and payable on the maturity date. As of December 31, 2021, the maturity date of the Secured Revolving Credit Facility is May 1, 2022. On February 9, 2022, the Company entered into the Eighth Amendment to this credit agreement to extend its maturity date to May 1, 2025 and to reduce the minimum interest rate from 4.00% to 3.15%. All other material terms of the credit agreement, as amended, remained unchanged. As of December 31, 2021, letters of credit outstanding totaling $0.2 million reduced the aggregate maximum commitment amount to $34.8 million. As of December 31, 2021, outstanding borrowings under the amended Secured Revolving Credit Facility bear interest payable monthly at a floating rate per annum equal to the rate announced by Bank of America, N.A., from time to time, as its “Prime Rate” (the “Index”) with such adjustments to the interest rate being made on the effective date of any change in the Index, less 0.25%. Notwithstanding the foregoing, the interest may not, at any time, be less than 4% per annum or more than the lesser amount of 18% and the highest maximum rate allowed by applicable law. As of December 31, 2021, the interest rate on outstanding borrowings under the Secured Revolving Credit Facility was 4.00% per annum. The Secured Revolving Credit Facility is subject to a borrowing base limitation equal to the sum of 50% of the total value of land and 65% of the total value of lots owned by certain of the Company’s subsidiaries, each as determined by an independent appraiser, with the value of land being restricted from being more than 65% of the borrowing base. The amended Secured Revolving Credit Facility is also subject to a non-usage fee equal to 0.25% of the average unfunded amount of the commitment amount over a trailing 12 month period. Under the terms of the amended Secured Revolving Credit Facility, the Company is required, among other things, to maintain minimum multiples of tangible net worth in excess of the outstanding Secured Revolving Credit Facility balance, minimum interest coverage and maximum leverage. The Company was in compliance with these financial covenants under the Secured Revolving Credit Facility as of December 31, 2021. De minimis fees and other debt issuance costs were incurred during each of the years ended December 31, 2021, 2020 and 2019, associated with the Secured Revolving Credit Facility amendments. These costs are deferred and reduce the carrying amount of debt in our consolidated balance sheets. The Company subjects these costs to analysis for capitalization to inventory over the term of the Secured Revolving Credit Facility using the straight-line method, which approximates the effective interest rate method for our senior unsecured notes and notes payable. Unsecured Revolving Credit Facility The Company is party to a credit agreement, providing for a senior, unsecured revolving credit facility (the “Unsecured Revolving Credit Facility”). The Unsecured Revolving Credit Facility provides for maximum aggregate lending commitments of up to $325.0 million of which the Company has secured outstanding commitments of $300.0 million. On December 10, 2021, the Company amended the Unsecured Revolving Credit Facility to increase the aggregate commitment amount from $275.0 million to $300.0 million. As amended, the Unsecured Revolving Credit Facility’s lender group is comprised of eight banks including Flagstar Bank, Veritex Community Bank, Huntington National Bank, Texas Capital Bank, Goldman Sachs Bank USA, BancorpSouth Bank, Woodforest National Banks, and MidFirst Bank. The termination date with respect to commitments under the Unsecured Revolving Credit Facility is December 14, 2024 for $300.0 million. The Unsecured Revolving Credit Facility provides for interest rate options on advances at rates equal to either: (a) in the case of base rate advances, the highest of (1) Citibank’s base rate, (2) the federal funds rate plus 0.5%, and (3) the one-month LIBOR plus 1.0%, in each case plus 1.5%; or (b) in the case of Eurodollar rate advances, the reserve adjusted LIBOR plus 2.5%. Interest on amounts borrowed under the Unsecured Revolving Credit Facility is payable in arrears on a monthly basis. As of December 31, 2021, there were no outstanding borrowings under the Unsecured Revolving Credit Facility. The Company pays the lenders a commitment fee on the amount of the unused commitments on a quarterly basis at a rate per annum equal to 0.45%. Outstanding borrowings under the Unsecured Revolving Credit Facility are subject to, among other things, a borrowing base. The borrowing base limitation is equal to the sum of: 100% of unrestricted cash in excess of $15.0 million; 85% of the book value of model homes, construction in progress homes, completed sold and speculative homes (subject to certain limitations on the age and number of speculative homes and model homes); 65% of the book value of finished lots and land under development; and 50% of the book value of entitled land (subject to certain limitations on the value of entitled land and land under development as a percentage of the borrowing base). Fees and other debt issuance costs of $2.8 million, $0.5 million and $0.3 million were incurred during the years ended December 31, 2021, 2020 and 2019, respectively, associated with the amendments, term extensions and increases in lenders’ commitments. These costs are deferred and reduce the carrying amount of debt in our consolidated balance sheets. The Company capitalizes these costs to inventory over the term of the Unsecured Revolving Credit Facility using the straight-line method, which approximates the effective interest rate method for our senior unsecured notes and notes payable. Under the terms of the Unsecured Revolving Credit Facility, the Company is required to maintain compliance with various financial covenants, including a maximum leverage ratio, a minimum interest coverage ratio, and a minimum consolidated tangible net worth. The Company was in compliance with these financial covenants under the Unsecured Revolving Credit Facility as of December 31, 2021. Senior Unsecured Notes On August 8, 2019, the Company entered into a Note Purchase Agreement with Prudential Private Capital to issue $75.0 million aggregate principal amount of senior unsecured notes (the “2026 Notes”) due on August 8, 2026 at a fixed rate of 4.00% per annum in a Section 4(a)(2) private placement transaction. The Company received net proceeds of $73.3 million and incurred debt issuance costs of approximately $1.7 million that were deferred and reduced the amount of debt on our consolidated balance sheet. The Company used the net proceeds from the issuance of the 2026 Notes to repay borrowings under the Company’s existing revolving credit facilities. Principal on the 2026 Notes is required to be paid in increments of $12.5 million on August 8, 2024 and $12.5 million on August 8, 2025. The final principal payment of $50.0 million is due on August 8, 2026. Optional prepayment is allowed with payment of a “make-whole” penalty which fluctuates depending on market interest rates. Interest is payable quarterly in arrears commencing November 8, 2019. On August 26, 2020, the Company entered into a Note Purchase Agreement with The Prudential Insurance Company of America and Prudential Universal Reinsurance Company to issue $37.5 million aggregate principal amount of senior unsecured notes (the “2027 Notes”) due on August 26, 2027 at a fixed rate of 3.35% per annum in a Section 4(a)(2) private placement transaction. The Company received net proceeds of $37.4 million and incurred debt issuance costs of approximately $0.1 million that were deferred and reduced the amount of debt on our consolidated balance sheet. The Company used the net proceeds from the issuance of the 2027 Notes to repay borrowings under the Company’s existing revolving credit facilities and for general corporate purposes. Optional prepayment is allowed with payment of a “make-whole” penalty which fluctuates depending on market interest rates. Interest is payable quarterly in arrears commencing on November 26, 2020. On February 25, 2021, the Company entered into a Note Purchase Agreement with several purchasers to issue $125.0 million aggregate principal amount of senior unsecured notes (the “2028 Notes”) due on May 25, 2028 at a fixed rate of 3.25% per annum in a Section 4(a)(2) private placement transaction. The Company received net proceeds of $124.4 million and incurred debt issuance costs of approximately $0.6 million that were deferred and reduced the amount of debt on our consolidated balance sheet. The Company used the net proceeds from the issuance of the 2028 Notes to repay borrowings under the Company’s existing revolving credit facilities and for general corporate purposes. Principal on the 2028 Notes is due in increments of $25.0 million on February 25, 2024; $25.0 million on February 25, 2025; $25.0 million on February 25, 2026; $25.0 million on February 25, 2027 and $25.0 million on February 25, 2028. Optional prepayment is allowed with payment of a “make-whole” penalty which fluctuates depending on market interest rates. Interest is payable quarterly in arrears commencing on May 25, 2021. On December 28, 2021, the Company entered into a Note Purchase Agreement with several purchasers to issue $100.0 million aggregate principal amount of senior unsecured notes (the “2029 Notes”) due on December 28, 2029 at a fixed rate of 3.25% per annum in a Section 4(a)(2) private placement transaction. The Company received net proceeds of $99.6 million and incurred debt issuance costs of approximately $0.4 million that were deferred and reduced the amount of debt on our consolidated balance sheet. The Company used the net proceeds from the issuance of the 2029 Notes to repay borrowings under the Company’s existing revolving credit facilities and for general corporate purposes. Principal on the 2029 Notes of $30.0 million is due on December 28, 2028. The remaining principal amount of $70.0 million is due on December 29, 2029. Optional prepayment is allowed with payment of a “make-whole” penalty which fluctuates depending on market interest rates. Interest is payable quarterly in arrears commencing on March 28, 2022. Under the terms of the senior unsecured notes, the Company is required, among other things, to maintain compliance with various financial covenants, including maximum leverage ratios, a minimum interest coverage ratio, and a minimum consolidated tangible net worth. The Company was in compliance with these financial covenants under the Senior Unsecured Notes as of December 31, 2021. The senior unsecured notes are guaranteed on an unsecured senior basis by the Company’s significant subsidiaries and certain other subsidiaries. The senior unsecured notes will rank equally in right of payment with all of the Company’s existing and future senior unsecured and unsubordinated indebtedness. |  |  |  |  |  |  |  |  |
Schedule of Maturities of Long-term Debt [Table Text Block] |  |  | The aggregated annual principal payments under the borrowings on lines of credit and senior unsecured notes over the next five years as of December 31, 2021 are (in thousands):
2022 | $ | 2,000 |
2023 | — |
2024 | 37,500 |
2025 | 37,500 |
2026 | 75,000 |
Thereafter | 187,500 |
Total | $ | 339,500 |
Schedule of Line of Credit Facilities [Table Text Block] |  |  | Borrowings on lines of credit outstanding, net of debt issuance costs, as of December 31, 2021 and 2020 consist of the following (in thousands):
| December 31, 2021 |  | December 31, 2020
Secured Revolving Credit Facility | $ | 2,000 |  |  | $ | 7,000 |
Unsecured Revolving Credit Facility | — |  |  | 101,000 |
Debt issuance costs, net of amortization | (2,738) |  |  | (1,313) |
Total borrowings on lines of credit, net | $ | (738) |  |  | $ | 106,687 |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months |  |  | $ 2,000,000 |  |  |  |  |  |  |  |  |
Long-term Debt, Maturities, Repayments of Principal after Year Five |  |  | 187,500,000 |  |  |  |  |  |  |  |  |
Senior Notes | $ 37,500,000 |  |  |  |  |  |  |  |  |  |  |
Stated interest rate |  | 4.00% |  |  |  |  |  |  | 3.25% | 3.25% | 3.35% |
Long-term Line of Credit |  |  | (738,000) | $ (106,687,000) |  |  |  |  |  |  |  |
Letters of Credit Outstanding, Amount |  |  | 1,700,000 | 9,800,000 |  |  |  |  |  |  |  |
Debt Issuance Costs, Net |  |  | 2,738,000 | 1,313,000 |  |  |  |  |  |  |  |
Line of Credit Facility, Maximum Borrowing Capacity |  |  | 35,000,000 |  |  |  |  |  |  |  |  |
Proceeds from Issuance of Senior Long-term Debt |  |  | 225,000,000 | 37,500,000 | $ 75,000,000 |  |  |  |  |  |  |
Debt Instrument, Fee Amount |  | $ 1,700,000 |  |  |  |  |  |  |  |  |  |
Payments of Debt Issuance Costs |  |  | 2,901,000 | 527,000 | 1,974,000 |  |  |  |  |  |  |
Long-term Debt, Maturities, Repayments of Principal in Year Five |  |  | 75,000,000 |  |  |  |  |  |  |  |  |
Long-term Debt, Maturities, Repayments of Principal in Year Two |  |  | 0 |  |  |  |  |  |  |  |  |
Long-term Debt, Maturities, Repayments of Principal in Year Three |  |  | 37,500,000 |  |  |  |  |  |  |  |  |
Long-term Debt, Maturities, Repayments of Principal in Year Four |  |  | 37,500,000 |  |  |  |  |  |  |  |  |
Long-term Debt |  |  | 339,500,000 |  |  |  |  |  |  |  |  |
Line of Credit Facility, Remaining Borrowing Capacity |  |  | 34,800,000 |  |  |  |  |  |  |  |  |
Line of Credit Facility, Current Borrowing Capacity |  |  | $ 35,000,000 |  |  |  |  |  |  |  |  |
Revolving Credit Facility [Member] |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility, Interest Rate at Period End |  |  | 4.00% |  |  |  |  |  |  |  |  |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage |  |  | 0.25% |  |  |  |  |  |  |  |  |
MaximumValueOfLandUsedWhenCalculatingBorrowingBase |  |  | 65.00% |  |  |  |  |  |  |  |  |
BorrowingBaseLimitationTotalValueOfland |  |  | 50.00% |  |  |  |  |  |  |  |  |
Borrowing Base Limitation Total Value Of Lots Owned |  |  | 65.00% |  |  |  |  |  |  |  |  |
Long-term Line of Credit |  |  | $ (2,000,000) | (7,000,000) |  |  |  |  |  |  |  |
Letters of Credit Outstanding, Amount |  |  | 200,000 |  |  |  |  |  |  |  |  |
Unsecured Debt [Member] |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Long-term Line of Credit |  |  | $ 0 | (101,000,000) |  |  |  |  |  |  |  |
Secured Revolving Line of Credit |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility, Expiration Date |  |  | May 01, 2025 |  |  |  |  |  |  |  |  |
Unsecured Revolving Credit Facility |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility, Expiration Date |  |  | Dec. 14, 2024 |  |  |  |  |  |  |  |  |
2026 Notes |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Senior Notes |  | 75,000,000 |  |  |  |  |  |  |  |  |  |
Proceeds from Issuance of Senior Long-term Debt |  | $ 73,300,000 |  |  |  |  |  |  |  |  |  |
2027 Notes |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from Issuance of Senior Long-term Debt | $ 37,400,000 |  |  |  |  |  |  |  |  |  |  |
Debt Related Commitment Fees and Debt Issuance Costs |  |  | $ 0.6 | 100,000 |  |  |  |  |  |  |  |
2028 Notes |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Senior Notes |  |  |  |  |  |  |  |  |  | $ 125,000,000 |  |
Proceeds from Issuance of Senior Long-term Debt |  |  | 124,400,000 |  |  |  |  |  |  |  |  |
2029 Notes |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Senior Notes |  |  |  |  |  |  |  |  | $ 100,000,000 |  |  |
Proceeds from Issuance of Senior Long-term Debt |  |  | 99,600,000 |  |  |  |  |  |  |  |  |
Debt Related Commitment Fees and Debt Issuance Costs |  |  | $ 400,000 |  |  |  |  |  |  |  |  |
Subsidiary Issuer [Member] | Minimum [Member] | Revolving Credit Facility [Member] |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Stated interest rate |  |  | 4.00% |  |  |  |  |  |  |  |  |
Subsidiary Issuer [Member] | Maximum [Member] | Revolving Credit Facility [Member] |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Stated interest rate |  |  | 18.00% |  |  |  |  |  |  |  |  |
Forecast [Member] |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Long-term Debt, Maturities, Repayments of Principal after Year Five |  |  |  |  |  | $ 50,000,000 | $ 12,500,000 |  |  |  |  |
Long-term Debt, Maturities, Repayments of Principal in Year Five |  |  |  |  |  |  |  | $ 12,500,000 |  |  |  |
Unsecured Debt [Member] |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Book Value of Finished Lots and Land Under Development |  |  |  |  |  |  |  |  |  |  |  | 65.00%
Book Value of Entitled Land |  |  |  |  |  |  |  |  |  |  |  | 50.00%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage |  |  | 0.45% |  |  |  |  |  |  |  |  |
Unrestricted Cash Borrowing Base Limitation |  |  |  |  |  |  |  |  |  |  |  | 100.00%
Line of Credit Facility, Maximum Borrowing Capacity |  |  | $ 300,000,000 |  |  |  |  |  |  |  |  |
Debt Related Commitment Fees and Debt Issuance Costs |  |  | $ 2,800,000 | $ 500,000 | $ 300,000 |  |  |  |  |  |  |
Borrowing Base Limitation for Unrestricted Cash |  |  |  |  |  |  |  |  |  |  |  | $ 15,000,000
Book Value of Model Homes Borrowing Base |  |  |  |  |  |  |  |  |  |  |  | 85.00%
Unsecured Debt [Member] | Base rate advances [Member] |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Addition to the Federal Funds Rate |  |  | 0.50% |  |  |  |  |  |  |  |  |
Addition to the LIBOR Rate |  |  | 1.00% |  |  |  |  |  |  |  |  |
Extra Addition to the Interest Rate |  |  | 1.50% |  |  |  |  |  |  |  |  |
Unsecured Debt [Member] | Eurodollar Rate Advances [Member] |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Addition to the reserve adjusted LIBOR rate |  |  | 2.50% |  |  |  |  |  |  |  |  |
Secured Debt | Maximum [Member] |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility, Interest Rate at Period End |  |  | 4.00% |  |  |  |  |  |  |  |  |

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- Definition Commitments are subject to a borrowing base limitation equal to the sum of: one hundred percent (100%) of unrestricted cash (in excess of $15.0 million); eighty five percent (85%) of the book value of model homes, construction in progress homes, sold completed homes, and speculative homes (subject to certain limitations on the age and number of speculative homes and model homes); sixty five percent (65%) of the book value of finished lots and land under development; and fifty percent (50%) of the book value of entitled land (subject to certain limitations on the value of entitled land and land under development as a percentage of the borrowing base). Loans under the revolving credit facility may be used for general corporate purposes. + References No definition available. + Details
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 + Details
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