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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities    
Net income $ 10,422 $ 2,345
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 149 224
Amortization of stock-based compensation 1,528 844
Gain on sale of marketable securities   (19)
Changes in operating assets and liabilities:    
Real estate inventories (86,395) (107,748)
Contracts and accounts receivable (2,268) (900)
Other assets (11,084) 821
Accounts payable (2,757) (603)
Accrued liabilities (2,754) 2,442
Net cash used in operating activities (93,159) (102,594)
Cash flows from investing activities    
Purchases of furniture and equipment (248) (290)
Purchases of marketable securities   (125,000)
Sales of marketable securities   85,000
Net cash used in investing activities (248) (40,290)
Cash flows from financing activities    
Borrowings from notes payable 431,189 53,850
Repayments of notes payable (342,173) (48,661)
Loan origination fees (4,447)  
Minimum tax withholding paid on behalf of employees for stock awards (303)  
Net proceeds from issuance of common stock   155,408
Net cash provided by financing activities 84,266 160,597
Net increase (decrease) in cash and cash equivalents (9,141) 17,713
Cash and cash equivalents - beginning of period 35,261 19,824
Cash and cash equivalents - end of period 26,120 37,537
Supplemental disclosure of cash flow information    
Interest paid, net of amounts capitalized      
Income taxes paid $ 17,564