Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2015

Depreciation is computed on a straight-line basis based on estimated useful lives as follows:



Asset Class		Useful Lives
Buildings		25 - 30 years
Building improvements		Lesser of estimated useful life of the improvements or remaining useful life of the building
Information systems		Lesser of estimated useful life of the asset or 5 years
Furniture, fixtures and computer and office equipment		3 - 7 years
Model and sales office improvements		Lesser of estimated useful life of the asset or estimated useful life of the community
Leasehold improvements		Lesser of the lease term or the estimated useful life of the asset

The following table presents our property and equipment as of September 30, 2015 and September 30, 2014:



(In thousands)	September 30, 2015			September 30, 2014
Buildings and improvements	$	2,329		$	2,329
Model furnishings and sales office improvements	25,111			25,334
Leasehold improvements	5,022			4,197
Information systems	14,290			17,554
Furniture, fixtures and office equipment	11,864			9,999
Property and equipment, gross	58,616			59,413
Less: Accumulated Depreciation	(36,386		)	(40,740		)
Property and equipment, net	$	22,230		$	18,673