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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities    
Net income (loss) $ 7,031 $ (3,940)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 342 191
Amortization of stock-based compensation 1,345 349
Gain on sales of marketable securities (19)  
Changes in operating assets and liabilities:    
Real estate inventories (165,795) (66,445)
Contracts and accounts receivable 15 (152)
Other assets (5,235) (152)
Accounts payable 6,775 1,195
Accrued liabilities 7,900 (414)
Net cash used in operating activities (147,641) (69,368)
Cash flows from investing activities    
Purchases of furniture and equipment (372) (102)
Purchases of marketable securities (125,000)  
Sales of marketable securities 95,000  
Net cash used in investing activities (30,372) (102)
Cash flows from financing activities    
Net proceeds from issuance of common stock 155,408  
Cash contributions from member   29,000
Financial advisory fee paid on capital raised   (1,015)
Cash from common units subject to redemption   37,000
Borrowings from notes payable 123,474 63,253
Repayments of notes payable (88,390) (23,690)
Net cash provided by financing activities 190,492 104,548
Net increase in cash and cash equivalents 12,479 35,078
Cash and cash equivalents - beginning of period 19,824 10,164
Cash and cash equivalents - end of period 32,303 45,242
Supplemental disclosure of cash flow information    
Interest paid, net of amounts capitalized