Variable Interest Entities and Joint Ventures (Tables)

3 Months Ended

Mar. 31, 2013

Text Block [Abstract]

Total Risk Related to Lot Options

NVR’s total risk of loss related to contract land deposits as of March 31, 2013 and December 31, 2012, was as follows:

	March 31, 2013			December 31, 2012
Contract land deposits	$	257,247		$	256,577
Loss reserve on contract land deposits		(64,031	)		(65,039	)
Contract land deposits, net		193,216			191,538
Contingent obligations in the form of letters of credit		2,894			3,338
Contingent specific performance obligations (1)		4,496			7,047
Total risk of loss	$	200,606		$	201,923

(1) At March 31, 2013 and December 31, 2012, the Company was committed to purchase 50 and 71 finished lots under specific performance obligations, respectively.

Condensed Balance Sheets of Consolidated JV

The condensed balance sheets at March 31, 2013 and December 31, 2012, of the consolidated JV were as follows:

	March 31, 2013		December 31, 2012
Cash	$	543	$	906
Restricted cash		505		505
Other assets		873		833
Land under development		9,515		13,382
Total assets	$	11,436	$	15,626
Debt	$	2,539	$	4,574
Accrued expenses		791		935
Equity		8,106		10,117
Total liabilities and equity	$	11,436	$	15,626