XML 22 R10.htm IDEA: XBRL DOCUMENT v3.21.2

REAL ESTATE INVENTORY

12 Months Ended

Apr. 30, 2021

REAL ESTATE INVENTORY

REAL ESTATE INVENTORY

(2)          REAL ESTATE INVENTORY

Real estate inventory consists of (in thousands):

		April 30,
		2021			2020
Land held for development or sale in New Mexico		$	49,918		$	49,462
Land held for development or sale in Colorado			3,975			3,943
Homebuilding finished inventory			417			—
Homebuilding construction in process			1,279			44
		$	55,589		$	53,449

Land held for development or sale represents property located in areas that are planned to be developed or sold in the near term. A substantial majority of the Company’s real estate assets are located in or adjacent to Rio Rancho, New Mexico. As a result of this geographic concentration, the Company has been and will be affected by changes in economic conditions in that region.

Land held for development or sale in Colorado represents an approximately 160-acre property in Brighton, Colorado and an approximately 5-acre property in Parker, Colorado zoned for commercial use.

Homebuilding finished inventory represents costs for residential homes that are completed and ready for sale. Homebuilding construction in process represents costs for residential homes being built.

Interest and loan costs of $105,000 and real estate taxes of $29,000 were capitalized in real estate inventory for the year ending April 30, 2021. Interest and loan costs of $182,000 and real estate taxes of $78,000 were capitalized in real estate inventory for the year ending April 30, 2020.

X

- References

No definition available.

+ Details

Name:	us-gaap_InventoryRealEstateAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 970
-URI http://asc.fasb.org/topic&trid=2156125

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 978
-URI http://asc.fasb.org/topic&trid=2134977

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 976
-URI http://asc.fasb.org/topic&trid=2134846

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 974
-URI http://asc.fasb.org/topic&trid=2156429

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 972
-URI http://asc.fasb.org/topic&trid=2134617

+ Details

Name:	us-gaap_RealEstateDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration