William Lyon Homes (WLH) 10-Q 8 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	6-May-15
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	WLH
Entity Registrant Name	WILLIAM LYON HOMES
Entity Central Index Key	1095996
Current Fiscal Year End Date	-19
Entity Filer Category	Accelerated Filer
Common stock, Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		27,636,781
Common stock, Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,813,884

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
ASSETS
Cash and cash equivalents	$29,450	$52,771
Restricted cash	504	504
Receivables	21,411	21,250
Escrow proceeds receivable	7,193	2,915
Real estate inventories	1,477,805	1,404,639
Deferred loan costs, net	15,773	15,988
Goodwill	60,887	60,887
Intangibles, net of accumulated amortization of $9,623 as of March 31, 2015 and $9,420 as of December 31, 2014	7,454	7,657
Deferred income taxes, net valuation allowance of $1,567 as of March 31, 2015 and $1,626 as of December 31, 2014	88,361	88,039
Other assets, net	19,595	19,777
Total assets	1,728,433	1,674,427
LIABILITIES AND EQUITY
Accounts payable	59,253	51,814
Accrued expenses	74,290	85,366
Notes payable	96,921	39,235
Total senior notes	995,727	940,101
Total liabilities	1,129,270	1,077,281
Commitments and contingencies
Equity:
Preferred stock, par value $0.01 per share, 10,000,000 shares authorized, no shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively	0	0
Additional paid-in capital	408,791	408,969
Retained earnings	167,309	160,627
Total William Lyon Homes stockholders’ equity	576,422	569,915
Noncontrolling interests	22,741	27,231
Total equity	599,163	597,146
Total liabilities and equity	1,728,433	1,674,427
Common stock, Class A, par value $0.01 per share; 150,000,000 shares authorized; 28,370,999 and 28,073,438 shares issued, 27,636,781 and 27,487,257 outstanding at March 31, 2015 and December 31, 2014, respectively
Equity:
Common stock	284	281
Common stock, Class B, par value $0.01 per share; 30,000,000 shares authorized; 3,813,884 shares issued and outstanding at March 31, 2015 and December 31, 2014
Equity:
Common stock	38	38
Senior unsecured loan facility
LIABILITIES AND EQUITY
Total senior notes	18,957	20,717
5 3/4% Senior Notes due April 15, 2019
LIABILITIES AND EQUITY
Total senior notes	150,000	150,000
8 1/2% Senior Notes due November 15, 2020
LIABILITIES AND EQUITY
Total senior notes	429,849	430,149
7% Senior Notes due August 15, 2022
LIABILITIES AND EQUITY
Total senior notes	$300,000	$300,000

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified
Intangibles - Accumulated Amortization	$9,623	$9,420
Deferred Income Taxes - Valuation Allowance	$1,567	$1,626
Preferred stock, par value (in USD per share)	$0.01	$0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, Class A
Common stock, par value (in USD per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	28,370,999	28,073,438
Common stock, shares outstanding (in shares)	27,636,781	27,487,457
Common stock, Class B
Common stock, par value (in USD per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	3,813,884	3,813,884
Common stock, shares outstanding (in shares)	3,813,884	3,813,884
5 3/4% Senior Notes due April 15, 2019
Stated interest rate	5.75%	5.75%
8 1/2% Senior Notes due November 15, 2020
Stated interest rate	8.50%	8.50%
7% Senior Notes due August 15, 2022
Stated interest rate	7.00%	7.00%

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Operating revenue
Home sales	$189,715	$140,299
Construction services	7,453	9,652
Operating revenue	197,168	149,951
Operating costs
Cost of sales — homes	-154,081	-106,212
Construction services	-6,029	-8,068
Sales and marketing	-12,224	-6,558
General and administrative	-13,948	-12,136
Amortization of intangible assets	-203	-618
Other	-288	-562
Total operating costs	-186,773	-134,154
Operating income (loss)	10,395	15,797
Other income, net	781	119
Income before provision for income taxes	11,176	15,916
Provision for income taxes	-3,570	-4,574
Net income (loss)	7,606	11,342
Less: Net income attributable to noncontrolling interests	-924	-2,645
Net income available to common stockholders	$6,682	$8,697
Income per common share:
Basic (in USD per share)	$0.18	$0.28
Diluted (in USD per share)	$0.18	$0.27
Weighted average common shares outstanding:
Basic (in shares)	36,463,995	31,106,310
Diluted (in shares)	37,633,831	32,604,620

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENT OF EQUITY (USD $)	Total	Common Stock	Additional Paid-In	Retained Earnings	Non- Controlling Interests
In Thousands, unless otherwise specified
Beginning Balance at Dec. 31, 2014	$597,146	$319	$408,969	$160,627	$27,231
Beginning Balance (in shares) at Dec. 31, 2014		31,887
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	7,606			6,682	924
Cash distributions to members of consolidated entities	-5,414				-5,414
Exercise of stock options	106	0	106
Exercise of stock options (in shares)		48
Shares remitted to Company	-1,632	-1	-1,631
Shares remitted to Company (in shares)		-85
Stock based compensation	1,351	4	1,347
Stock based compensation (in shares)		335
Ending Balance at Mar. 31, 2015	$599,163	$322	$408,791	$167,309	$22,741
Ending Balance (in shares) at Mar. 31, 2015		32,185

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Operating activities
Net income	$7,606	$11,342
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	557	1,345
Net change in deferred income taxes	-322	2,123
Stock based compensation expense	1,351	1,011
Equity in earnings of unconsolidated joint ventures	-248	0
Net changes in operating assets and liabilities:
Receivables	11	-173
Escrow proceeds receivable	-4,278	-1,310
Real estate inventories	-63,101	-188,295
Other assets	978	-1,114
Accounts payable	7,439	1,621
Accrued expenses	-11,165	3,714
Net cash used in operating activities	-61,172	-169,736
Investing activities
Investments in and advances to unconsolidated joint ventures	-1,000	0
Distributions from unconsolidated joint ventures	76	0
Purchases of property and equipment	-150	-1,273
Net cash (used in) provided by investing activities	-1,074	-1,273
Financing activities
Proceeds from borrowings on notes payable	6,148	20,112
Principal payments on notes payable	-6,962	-19,464
Proceeds from borrowings on Revolver	89,000	0
Payments on Revolver	-40,000	0
Principal payments on subordinated amortizing notes	-1,760	0
Payment of deferred loan costs	-561	-2,549
Proceeds from stock options exercised	106	0
Proceeds from issuance of common stock	0	288
Shares remitted to, or withheld by the Company for employee tax withholding	-1,632	0
Noncontrolling interest contributions	0	8,392
Noncontrolling interest distributions	-5,414	-6,413
Net cash provided by financing activities	38,925	150,366
Net decrease in cash and cash equivalents	-23,321	-20,643
Cash and cash equivalents — beginning of period	52,771	171,672
Cash and cash equivalents — end of period	29,450	151,029
Supplemental disclosures of non-cash investing and financing activities:
Issuance of note payable related to land acquisition	9,500	2,413
Shares remitted to the Company for employee tax withholding	0	1,414
Accrued offering costs related to secondary sale of common stock	0	145
Accrued deferred loan costs	0	404
5 3/4% Senior Notes due April 15, 2019
Financing activities
Proceeds from issuance of 5 3/4% senior notes	$0	$150,000

Basis_of_Presentation_and_Sign

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies
	Operations
	William Lyon Homes, a Delaware corporation (“Parent” and together with its subsidiaries, the “Company”), is primarily engaged in designing, constructing, marketing and selling single-family detached and attached homes in California, Arizona, Nevada, Colorado (under the Village Homes brand), Washington and Oregon (each under the Polygon Northwest Homes brand).
	Basis of Presentation
	The preparation of the Company’s financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of the assets and liabilities as of March 31, 2015 and December 31, 2014 and revenues and expenses for the three month period ended March 31, 2015 and 2014. Accordingly, actual results could differ from those estimates. The significant accounting policies using estimates include real estate inventories and cost of sales, impairment of real estate inventories, warranty reserves, loss contingencies, sales and profit recognition, accounting for variable interest entities, business combinations, and valuation of deferred tax assets. The current economic environment increases the uncertainty inherent in these estimates and assumptions.
	The condensed consolidated financial statements include the accounts of the Company and all majority-owned and controlled subsidiaries and joint ventures, and certain joint ventures and other entities which have been determined to be variable interest entities ("VIEs") in which the Company is considered the primary beneficiary (see Note 3). The accounting policies of the joint ventures are substantially the same as those of the Company. All significant intercompany accounts and transactions have been eliminated in consolidation.
	The condensed consolidated financial statements were prepared from our books and records without audit and include all adjustments (consisting of only normal recurring accruals) necessary to present a fair statement of results for the interim periods presented. Readers of this quarterly report should refer to our audited consolidated financial statements as of and for the year ended December 31, 2014, which are included in our 2014 Annual Report on Form 10-K, as certain disclosures that would substantially duplicate those contained in the audited financial statements have not been included in this report.
	Real Estate Inventories
	Real estate inventories are carried at cost net of impairment losses, if any. Real estate inventories consist primarily of land deposits, land and land under development, homes completed and under construction, and model homes. All direct and indirect land costs, offsite and onsite improvements and applicable interest and other carrying charges are capitalized to real estate projects during periods when the project is under development. Land, offsite costs and all other common costs are allocated to land parcels benefited based upon relative fair values before construction. Onsite construction costs and related carrying charges (principally interest and property taxes) are allocated to the individual homes within a phase based upon the relative sales value of the homes. The Company relieves its real estate inventories through cost of sales for the estimated cost of homes sold. Selling expenses and other marketing costs are expensed in the period incurred.
	A provision for warranty costs relating to the Company’s limited warranty plans is included in cost of sales and accrued expenses at the time the sale of a home is recorded. The Company generally reserves either approximately one to one and one quarter percent of the sales price of its homes, or a set amount per home closed depending on the operating division, against the possibility of future charges relating to its warranty programs and similar potential claims. Factors that affect the Company’s warranty liability include the number of homes under warranty, historical and anticipated rates of warranty claims, and cost per claim. The Company assesses the adequacy of its recorded warranty liability and adjusts the amounts as necessary. Changes in the Company’s warranty liability for the three months ended March 31, 2015 and 2014, are as follows (in thousands):
		Three			Three
		Months			Months
		Ended			Ended
		March 31,			March 31,
		2015			2014
	Warranty liability, beginning of period	$	18,155		$	14,935
	Warranty provision during period	1,391			1,675
	Warranty payments during period	(2,011		)	(1,575		)
	Warranty charges related to construction services projects	180			333
	Warranty liability, end of period	$	17,715		$	15,368
	The Company began accruing for warranty costs for units closed in the Washington and Oregon segments in conjunction with their acquisition (see Note 2) at a set rate per home, however the Company did not assume any warranty liability for units closed prior to the acquisition date.
	Interest incurred under the Company’s debt obligations, as more fully discussed in Note 6, is capitalized to qualifying real estate projects under development. Interest activity for the three months ended March 31, 2015 and 2014 are as follows (in thousands):
		Three			Three
		Months			Months
		Ended			Ended
		March 31,			March 31,
		2015			2014
	Interest incurred	$	18,033		$	9,395
	Less: Interest capitalized	18,033			9,395
	Interest expense, net of amounts capitalized	$	—		$	—
	Cash paid for interest	$	11,700		$	620
	Construction Services
	The Company accounts for construction management agreements using the Percentage of Completion Method in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 605 Revenue Recognition (“ASC 605”). Under ASC 605, the Company records revenues and expenses as a contracted project progresses, and based on the percentage of costs incurred to date compared to the total estimated costs of the contract.
	The Company entered into construction management agreements to build, sell and market homes in certain communities. For such services, the Company will receive fees (generally 3 to 5 percent of the sales price, as defined) and may, under certain circumstances, receive additional compensation if certain financial thresholds are achieved.
	Financial Instruments
	Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents, restricted cash, receivables, and deposits. The Company typically places its cash and cash equivalents in investment grade short-term instruments. Deposits, included in other assets, are due from municipalities or utility companies and are generally collected from such entities through fees assessed to other developers. The Company is an issuer of, or subject to, financial instruments with off-balance sheet risk in the normal course of business which exposes it to credit risks. These financial instruments include letters of credit and obligations in connection with assessment district bonds. These off-balance sheet financial instruments are described in more detail in Note 12.
	Cash and Cash Equivalents
	Short-term investments with a maturity of three months or less when purchased are considered cash equivalents. The Company’s cash and cash equivalents balance exceeds federally insurable limits as of March 31, 2015 and December 31, 2014. The Company monitors the cash balances in its operating accounts and adjusts the cash balances between accounts based on operational needs; however, these cash balances could be negatively impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts.
	Restricted Cash
	Restricted cash consists of deposits made by the Company to a bank account as collateral for the use of letters of credit to guarantee the Company’s financial obligations under certain other contractual arrangements in the normal course of business.
	Deferred Loan Costs
	Deferred loan costs represent debt issuance costs and are primarily amortized to interest incurred using the straight line method which approximates the effective interest method.
	Goodwill
	In accordance with the provisions of ASC 350, Intangibles, Goodwill and Other, goodwill amounts are not amortized, but rather are analyzed for impairment at the reporting segment level. Goodwill is analyzed on an annual basis, or when indicators of impairment exist. We have determined that we have six reporting segments, as discussed in Note 4, and we perform an annual goodwill impairment analysis during the fourth quarter of each fiscal year.
	Intangibles
	Recorded intangible assets primarily relate to brand names of acquired entities, construction management contracts, homes in backlog, and joint venture management fee contracts recorded in conjunction with FASB ASC Topic 852, Reorganizations ("ASC 852"), or FASB ASC Topic 805, Business Combinations ("ASC 805"). All Intangible assets with the exception of those relating to brand names were valued based on expected cash flows related to home closings, and the asset is amortized on a per unit basis, as homes under the contracts close. Our brand name intangible assets are deemed to have an indefinite useful life.
	Income per common share
	The Company computes income per common share in accordance with FASB ASC Topic 260, Earnings per Share, which requires income per common share for each class of stock to be calculated using the two-class method. The two-class method is an allocation of income between the holders of common stock and a company’s participating security holders.
	Basic income per common share is computed by dividing income or loss available to common stockholders by the weighted average number of shares of common stock outstanding. For purposes of determining diluted income per common share, basic income per common share is further adjusted to include the effect of potential dilutive common shares.
	Income Taxes
	Income taxes are accounted for under the provisions of Financial Accounting Standards Board ASC 740, Income Taxes, using an asset and liability approach. Deferred income taxes reflect the net effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, and operating loss and tax credit carryforwards measured by applying currently enacted tax laws. A valuation allowance is provided to reduce net deferred tax assets to an amount that is more likely than not to be realized. ASC 740 prescribes a recognition threshold and a measurement criteria for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be considered “more-likely-than-not” to be sustained upon examination by taxing authorities. In addition, the Company has elected to recognize interest and penalties related to uncertain tax positions in the income tax provision.
	Impact of Recent Accounting Pronouncements
	In May 2014, the FASB issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which clarifies existing accounting literature relating to how and when revenue is recognized by an entity. ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets and supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. ASU 2014-09 requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. In doing so, an entity will need to exercise a greater degree of judgment and make more estimates than under the current guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price, and allocating the transaction price to each separate performance obligation. ASU 2014-09 also supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition-Construction-Type and Production-Type Contracts. ASU 2014-09 is effective for public companies for interim and annual reporting periods beginning after December 15, 2016, and is to be applied either retrospectively or using the cumulative effect transition method, with early adoption not permitted. On April 1, 2015, the FASB proposed deferring the effective date by one year to December 15, 2017 for annual reporting periods beginning after that date. The Company has not yet selected a transition method, and is currently evaluating the impact the adoption of ASU 2014-09 will have on its condensed consolidated financial statements and related disclosures.
	In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis, which improves targeted areas of the consolidation guidance and reduces the number of consolidation models. The amendments in the ASU are effective for annual and interim periods in fiscal years beginning after December 15, 2015, with early adoption permitted. The Company is currently evaluating the effect the guidance will have on our consolidated financial statements.
	In April 2015, the FASB issued ASU 2015-03, "Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs." The amendment requires that all costs incurred to issue debt be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. The standard also indicates that debt issuance costs do not meet the definition of an asset because they provide no future economic benefit. The amendments in the ASU are effective for annual and interim periods in fiscal years beginning after December 15, 2015, and is to be applied on a retrospective basis. Early adoption is permitted. The Company does not anticipate that adoption of this standard will have a material impact on its consolidated financial statements.

Acquisition_of_Polygon_Northwe

Acquisition of Polygon Northwest Homes	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Acquisition of Polygon Northwest Homes	Acquisition of Polygon Northwest Homes
	On August 12, 2014, the Company completed its acquisition of the residential homebuilding business of PNW Home Builders, L.L.C. (“PNW Parent”) pursuant to the Purchase and Sale Agreement (the “Purchase Agreement”) dated June 22, 2014 among William Lyon Homes, Inc., a California corporation and wholly-owned subsidiary of Parent ("California Lyon"), PNW Parent, PNW Home Builders North, L.L.C., PNW Home Builders South, L.L.C. and Crescent Ventures, L.L.C. Prior to such completion, California Lyon assigned its interests in the Purchase Agreement to Polygon WLH LLC, a newly formed Delaware limited liability company and wholly-owned subsidiary of California Lyon (“Polygon WLH”). Pursuant to the Purchase Agreement, Polygon WLH acquired, for cash, all of the membership interests of the underlying limited liability companies and certain service companies and other assets that comprised the residential homebuilding operations of PNW Parent (such operations being referred herein as "Polygon Northwest Homes") and which conducts business as Polygon Northwest Company (“Polygon”), for an aggregate cash purchase price of $520.0 million, an additional approximately $28.0 million at closing pursuant to initial working capital adjustments, plus an additional $4.3 million of consideration (the “Polygon Acquisition”). The acquired entities now operate as two new divisions of the Company under the Polygon name, one in Washington, with a core market of Seattle, and the other in Oregon, with a core market in Portland.
	The Company financed the Acquisition with a combination of proceeds as follows: (i) $300 million in aggregate principal amount of 7.00% senior notes due 2022, (ii) approximately $100 million of aggregate proceeds from several land banking arrangements for land parcels located in California, Washington and Oregon, (iii) $120 million of borrowings under a senior unsecured loan facility which was subsequently paid off, and (iv) cash on hand.
	As a result of the Polygon Acquisition, the entities comprising the business of Polygon Northwest Homes became wholly-owned direct or indirect subsidiaries of the Company, and its results are included in our condensed consolidated financial statements and related disclosures from the date of the Polygon Acquisition. For the three months ended March 31, 2015, operating revenue and income before provision for income taxes from Polygon operations, were $57.8 million and $4.8 million, respectively.
	The Polygon Acquisition was accounted for as a business combination in accordance with ASC 805. Under ASC 805, the Company recorded the acquired assets and assumed liabilities of Polygon Northwest Homes at their estimated fair values, with the excess allocated to Goodwill, as shown below. Goodwill represents the value the Company expects to achieve through the operational synergies and the expansion of the Company into new markets. The Company estimates that the entire $46.7 million of goodwill resulting from the Acquisition will be tax deductible. Goodwill will be allocated to the Washington and Oregon segments (see Note 4). A reconciliation of the consideration transferred as of the acquisition date is as follows:
	Purchase consideration	$	552,252
	Net proceeds received from Polygon parcels involved in land banking transactions (excludes California)	(59,834		)
		$	492,418
	As of March 31, 2015 the Company had not completed its final estimate of the fair value of the net assets of Polygon Northwest Homes, as the Company is waiting for additional information to finalize the valuation of real estate inventories, intangible assets, goodwill and tax related matters, which is expected to be completed during 2015. As such, the estimates used as of March 31, 2015 are subject to change. The following table summarizes the preliminary amounts for acquired assets and liabilities recorded at their fair values as of the acquisition date (in thousands):
	Assets Acquired
		Real estate inventories		$	441,069
		Goodwill		46,678
		Intangible asset - brand name		6,700
		Joint venture in mortgage business		2,000
		Other		545
		Total Assets		$	496,992
	Liabilities Assumed
		Accounts payable		$	603
		Accrued expenses		3,971
		Total liabilities		4,574
		Net assets acquired		$	492,418
	The Company determined the fair value of real estate inventories on a project level basis using a combination of discounted cash flow models, and market comparable land transactions, where available. These methods are significantly impacted by estimates relating to i) expected selling prices, ii) anticipated sales pace, iii) cost to complete, iv) highest and best use of projects prior to acquisition, and v) comparable land values. These estimates were developed and used at the individual project level, and may vary significantly between projects.
	The acquisition date fair value of the Intangible asset relating to brand name was estimated using comparable values ascribed in other recent market transactions, as well as taking into account Polygon Northwest Homes market position as a leading builder in the Seattle, WA, and Portland, OR, residential markets. This asset is deemed to have an indefinite life. Additionally, the Company acquired a non-controlling interest in a joint venture mortgage business. The fair value of this investment was estimated using the discounted cash flow method, which was significantly impacted by estimated cash flow streams and income of the joint venture.
	Other assets, accounts payable, and accrued expenses were generally stated at historical value due to the short-term nature of these liabilities.
	There were no acquisition related costs incurred during the three months ended March 31, 2015.
	Supplemental Pro Forma Information
	The following table presents unaudited pro forma amounts for the three months ended March 31, 2014 as if the Acquisition had been completed as of January 1, 2013 (amounts in thousands, except per share data):
		Three
		Months
		Ended
		March 31,
		2014
	Operating revenues	$	193,121
	Net income available to common stockholders	$	10,233
	Income per share - basic	$	0.33
	Income per share - diluted	$	0.31
	The unaudited pro forma operating results have been determined after adjusting the unaudited operating results of Polygon Northwest Homes to reflect the estimated purchase accounting and other acquisition adjustments including interest expense associated with the debt used to fund a portion of the acquisition. The unaudited pro forma results presented above do not reflect any cost savings, operating synergies or revenue enhancements that the combined company may achieve as a result of the Acquisition, the costs to combine the operations of the Company and Polygon Northwest Homes or the costs necessary to achieve any of the foregoing cost savings, operating synergies or revenue enhancements. As such, the unaudited pro forma amounts are for comparative purposes only and may not necessarily reflect the results of operations which would have resulted had the acquisition been completed at the beginning of the applicable period or indicative of the results that will be attained in the future.

Variable_Interest_Entities_and

Variable Interest Entities and Noncontrolling Interests	3 Months Ended
	Mar. 31, 2015
Noncontrolling Interest [Abstract]
Variable Interest Entities and Noncontrolling Interests	Variable Interest Entities and Noncontrolling Interests
	As of March 31, 2015 and December 31, 2014, the Company was party to six joint ventures for the purpose of land development and homebuilding activities which we have determined to be VIEs. The Company, as the managing member, has the power to direct the activities of the VIEs since it manages the daily operations and has exposure to the risks and rewards of the VIEs, based upon the allocation of income and loss per the respective joint venture agreements. Therefore, the Company is the primary beneficiary of the joint ventures, and the VIEs were consolidated as of March 31, 2015.
	As of March 31, 2015, the assets of the consolidated VIEs totaled $79.3 million, of which $2.0 million was cash and cash equivalents and $73.6 million was real estate inventories. The liabilities of the consolidated VIEs totaled $42.3 million, primarily comprised of notes payable, accounts payable and accrued liabilities.
	As of December 31, 2014, the assets of the consolidated VIEs totaled $88.1 million, of which $3.3 million was cash and cash equivalents and $81.3 million was real estate inventories. The liabilities of the consolidated VIEs totaled $45.0 million, primarily comprised of notes payable, accounts payable and accrued liabilities.

Segment_Information

Segment Information	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information
	The Company operates one principal homebuilding business. In accordance with FASB ASC Topic 280, Segment Reporting ("ASC 280"), the Company has determined that each of its operating divisions is an operating segment.The Company’s Chief Executive Officer and Chief Operating Officer have been identified as the chief operating decision makers. The Company’s chief operating decision makers direct the allocation of resources to operating segments based on the profitability and cash flows of each respective segment.
	The Company’s homebuilding operations design, construct and sell a wide range of homes designed to meet the specific needs in each of its markets. As a result of the Acquisition of Polygon Northwest Homes and the establishment of a distinct operating division to serve the Inland Empire market in Southern California during the year ended December 31, 2014, the Company reorganized its business into six reporting segments during the year ended December 31, 2014, from the existing five segments at December 31, 2013. Southern California and Northern California were aggregated with the Inland Empire division, and the newly acquired Washington and Oregon segments were established. As such, in accordance with the aggregation criteria defined by FASB ASC Topic 280, Segment Reporting (“ASC 280”), the Company’s homebuilding operating segments have been grouped into six reportable segments:
	California, consisting of operating divisions in i) Southern California, consisting of operations in Orange, Los Angeles, and San Diego counties; ii) Northern California, consisting of operations in Alameda, Contra Costa, San Joaquin, and Santa Clara counties; and iii) Inland Empire, consisting of operations in Riverside and San Bernardino counties.
	Arizona, consisting of operations in the Phoenix, Arizona metropolitan area.
	Nevada, consisting of operations in the Las Vegas, Nevada metropolitan area.
	Colorado, consisting of operations in the Denver, Fort Collins and Granby, Colorado markets.
	Washington, consisting of operations in the Seattle, Washington metropolitan area.
	Oregon, consisting of operations in the Portland, Oregon metropolitan area.
	Corporate develops and implements strategic initiatives and supports the Company’s operating segments by centralizing key administrative functions such as finance and treasury, information technology, risk management and litigation and human resources. All prior periods have been restated to reflect the Company's current segment reporting structure.
	Segment financial information relating to the Company’s operations was as follows (in thousands):
		Three			Three
		Months			Months
		Ended			Ended
		March 31,			March 31,
		2015			2014
	Operating revenue:
	California (1)	$	86,793		$	114,255
	Arizona	7,186			13,278
	Nevada	27,242			17,149
	Colorado	18,189			5,269
	Washington	31,280			—
	Oregon	26,478			—
	Total operating revenue	$	197,168		$	149,951
	(1) Operating revenue in the California segment includes construction services revenue.
		Three			Three
		Months			Months
		Ended			Ended
		March 31,			March 31,
		2015			2014
	Income before provision for income taxes
	California	$	9,312		$	20,638
	Arizona	304			1,351
	Nevada	3,362			1,356
	Colorado	(170		)	(659		)
	Washington	2,573			—
	Oregon	2,245			—
	Corporate	(6,450		)	(6,770		)
	Income before provision for income taxes	$	11,176		$	15,916
		31-Mar-15			31-Dec-14
	Homebuilding assets:
	California	$	603,582		$	572,900
	Arizona	188,262			179,529
	Nevada	155,511			135,358
	Colorado	129,688			131,085
	Washington	254,785			281,456
	Oregon	189,907			200,761
	Corporate (1)	206,698			173,338
	Total homebuilding assets	$	1,728,433		$	1,674,427
	-1	Comprised primarily of cash and cash equivalents, deferred income taxes, receivables, deferred loan costs, and other assets.

Real_Estate_Inventories

Real Estate Inventories	3 Months Ended
	Mar. 31, 2015
Real Estate [Abstract]
Real Estate Inventories	Real Estate Inventories
	Real estate inventories consist of the following (in thousands):
		31-Mar-15		31-Dec-14
	Real estate inventories:
	Land deposits	$	56,882	$	65,873
	Land and land under development	972,917		1,057,860
	Homes completed and under construction	366,822		225,496
	Model homes	81,184		55,410
	Total	$	1,477,805	$	1,404,639

Senior_Notes_Secured_and_Unsec

Senior Notes, Secured, and Unsecured Indebtedness	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Senior Notes, Secured, and Unsecured Indebtedness	Senior Notes, Secured, and Unsecured Indebtedness
		31-Mar-15			31-Dec-14
	Notes payable:
	Construction notes payable	$	38,421		$	38,688
	Seller financing	9,500			547
	Revolving line of credit	49,000			—
	Total notes payable	96,921			39,235
	Subordinated amortizing notes	18,957			20,717
	Senior notes:
	5 3/4% Senior Notes due April 15, 2019	150,000			150,000
	8 1/2% Senior Notes due November 15, 2020	429,849			430,149
	7% Senior Notes due August 15, 2022	300,000			300,000
	Total senior notes	879,849			880,149
	Total notes payable and senior notes	$	995,727		$	940,101
	As of March 31, 2015, the maturities of the Notes payable, Subordinated amortizing notes, 5 3/4% Senior Notes, 8 1/2% Senior Notes, and 7% Senior Notes are as follows (in thousands):
	Year Ending December 31,
	2015	$	9,500
	2016	12,090
	2017	94,288
	2018	—
	2019	150,000
	Thereafter	725,000
		$	990,878
	Maturities above exclude premium on 8 1/2% Senior Notes of $4.8 million as of March 31, 2015.
	Notes Payable
	Construction Notes Payable
	Certain of the Company's consolidated joint ventures have entered into construction notes payable agreements. The issuance date, total availability under each facility outstanding, maturity date and interest rate are listed in the table below as of March 31, 2015 (in millions):
	Issuance Date		Facility Size			Outstanding			Maturity		Current Rate
	November, 2014		24			13.5			November, 2017		3.75	%	-1
	November, 2014		22			12.8			November, 2017		3.75	%	-1
	March, 2014		26			5.3			October, 2016		3.17	%	-2
	December, 2013		18.6			6.8			January, 2016		4.25	%	-2
	June, 2013		28			—			June, 2016		4	%	-3
			$	118.6		$	38.4
	(1) Loan bears interest at the prime rate +0.5%.
	(2)Loan bears interest at the Company's option of either LIBOR +3.0% or the prime rate +1.0%.
	(3) Loan bears interest at the prime rate +0.5%, with a rate floor of 4.0% .
	Seller Financing
	At March 31, 2015, the Company had $9.5 million of notes payable outstanding related to one land acquisition for which seller financing was provided. The note bears interest at 5% per annum, is secured by the underlying land, and had an original maturity of April 2015, which was subsequently extended to August 2015.
	Revolving Line of Credit
	On March 27, 2015, California Lyon and Parent entered into an amendment and restatement agreement pursuant to which its existing credit agreement for a revolving credit facility of up to $100 million (the "Revolver") was amended and restated in its entirety (as so amended and restated, the “Amended Facility”). The Amended Facility amends and restates the Revolver and provides for total lending commitments of $130.0 million. In addition, the Amended Facility has an uncommitted accordion feature under which the Company may increase the total principal amount up to a maximum aggregate of $200.0 million under certain circumstances (up from a maximum aggregate of $125.0 million under the previous facility), as well as a sublimit of $50.0 million for letters of credit, and extends the maturity date of the previous facility by one year to August 7, 2017.
	The Amended Facility contains various covenants, including financial covenants relating to tangible net worth, leverage, liquidity and interest coverage, as well as a limitation on investments in joint ventures and non-guarantor subsidiaries. The Amended Facility contains customary events of default, subject to cure periods in certain circumstances, including: nonpayment of principal, interest and fees or other amounts; violation of covenants; inaccuracy of representations and warranties; cross default to certain other indebtedness; unpaid judgments; and certain bankruptcy and other insolvency events. The occurrence of any event of default could result in the termination of the commitments under the Amended Facility and permit the lenders to accelerate payment on outstanding borrowings under the Amended Facility and require cash collateralization of outstanding letters of credit. If a change in control (as defined in the Amended Facility) occurs, the lenders may terminate the commitments under the Amended Facility and require that the the Company repay outstanding borrowings under the Amended Facility and cash collateralize outstanding letters of credit. Interest rates on borrowings generally will be based on either LIBOR or a base rate, plus the applicable spread. The commitment fee on the unused portion of the Amended Facility currently accrues at an annual rate of 0.50%. The Company was in compliance with all covenants under the Amended Facility as of March 31, 2015.
	Borrowings under the Amended Facility, the availability of which is subject to a borrowing base formula, are required to be guaranteed by Parent and certain of Parent’s direct and indirect wholly-owned subsidiaries, are secured by a pledge of all equity interests held by such guarantors, and may be used for general corporate purposes. As of March 31, 2015, the Company had $49.0 million outstanding against the Amended Facility at an effective rate of 5.25%, as well as a letter of credit for $4.0 million. As of December 31, 2014, the Company had no amounts outstanding under the Amended Facility, with the exception of the above mentioned letter of credit.
	Subordinated Amortizing Notes
	On November 21, 2014, in order to pay down amounts borrowed under the senior unsecured bridge loan facility entered into in conjunction with the Polygon Acquisition, the Company completed its public offering and sale of 1,000,000 6.50% tangible equity units (“TEUs”, or "Units"), sold for a stated amount of $100 per Unit, featuring a 17.5% conversion premium.  On December 3, 2014, the Company sold an additional 150,000 TEUs pursuant to an over-allotment option granted to the underwriters. Each TEU is a unit composed of two parts:
	•	a prepaid stock purchase contract (a “purchase contract”); and
	•	a senior subordinated amortizing note (an “amortizing note”).
	Unless settled earlier at the holder’s option, each purchase contract will automatically settle on December 1, 2017 (the "mandatory settlement date"), and the Company will deliver not more than 5.2247 shares of Class A Common Stock and not less than 4.4465 shares of Class A Common Stock on the mandatory settlement date, subject to adjustment, based upon the applicable settlement rate and applicable market value of Class A Common Stock.
	Each amortizing note will have an initial principal amount of $18.01, bear interest at the annual rate of 5.50% and have a final installment payment date of December 1, 2017. On each March 1, June 1, September 1 and December 1, commencing on March 1, 2015, William Lyon Homes will pay equal quarterly installments of $1.6250 on each amortizing note (except for the March 1, 2015 installment payment, which was $1.8056 per amortizing note). Each installment will constitute a payment of interest and a partial repayment of principal. The amortizing notes rank equally in right of payment to all of the Company's existing and future senior indebtedness, other than borrowings under the Amended Facility and the Company's secured project level financing, which will be senior in right of payment to the obligations under the amortizing notes, in each case to the extent of the value of the assets securing such indebtedness.
	Each TEU may be separated into its constituent purchase contract and amortizing note on any business day during the period beginning on, and including, the business day immediately succeeding the date of initial issuance of the Units to, but excluding, the third scheduled trading day immediately preceding the mandatory settlement date . Prior to separation, the purchase contracts and amortizing notes may only be purchased and transferred together as Units. The net proceeds received from the TEU issuance were allocated between the amortizing note and the purchase contract under the relative fair value method, with amounts allocated to the purchase contract classified as additional paid-in capital. As of March 31, 2015 and December 31, 2014, the amortizing notes had an unamortized carrying value of $19.0 million and $20.7 million, respectively.
	Senior Notes
	5 3/4% Senior Notes Due 2019
	On March 31, 2014, California Lyon completed its private placement with registration rights of 5.75% Senior Notes due 2019 (the "5.75% Notes"), in an aggregate principal amount of $150 million. The 5.75% Notes were issued at 100% of their aggregate principal amount.
	As of March 31, 2015, the outstanding amount of the 5.75% Notes was $150 million. The 5.75% Notes bear interest at a rate of 5.75% per annum, payable semiannually in arrears on April 15 and October 15, and mature on April 15, 2019. The 5.75% Notes are unconditionally guaranteed on a joint and several unsecured basis by Parent and certain of its existing and future restricted subsidiaries. The 5.75% Notes and the related guarantees are California Lyon’s and the guarantors’ unsecured senior obligations and rank equally in right of payment with all of California Lyon’s and the guarantors’ existing and future unsecured senior debt, including California Lyon’s $425 million in aggregate principal amount of 8.5% Senior Notes due 2020 and $300 million in aggregate principal amount of 7.00% Notes, each as described below. The 5.75% Notes rank senior in right of payment to all of California Lyon’s and the guarantors’ future subordinated debt. The 5.75% Notes and the guarantees are and will be effectively junior to California Lyon’s and the guarantors’ existing and future secured debt to the extent of the value of the collateral securing such debt.
	8 1/2% Senior Notes Due 2020
	On November 8, 2012, California Lyon completed its private placement with registration rights of 8.5% Senior Notes due 2020, (the "initial 8.5% notes"), in an aggregate principal amount of $325 million. The initial 8.5% Notes were issued at 100% of their aggregate principal amount.
	On October 24, 2013, California Lyon completed its private placement with registration rights of an additional $100.0 million in aggregate principal amount of its 8.5% Senior Notes due 2020 (the “additional 8.5 % Notes”, and together with the initial 8.5% notes, the "8.5% Notes" ) at an issue price of 106.5% of their aggregate principal amount, plus accrued interest from and including May 15, 2013, resulting in net proceeds of approximately $104.7 million.
	As of both March 31, 2015 and December 31, 2014, the outstanding amount of the 8.5% Notes was $425 million. The 8.5% Notes bear interest at a rate of 8.5% per annum, payable semiannually in arrears on May 15 and November 15, and mature on November 15, 2020. The 8.5% Notes are unconditionally guaranteed on a joint and several unsecured basis by Parent and by certain of its existing and future restricted subsidiaries. The 8.5% Notes and the related guarantees are California Lyon's and the guarantors' unsecured senior obligations and rank equally in right of payment with all of California Lyon’s and the guarantors’ existing and future unsecured senior debt, including the 5.75% Notes, as described above, and the 7.00% Notes, as described below. The 8.5% Notes rank senior in right of payment to all of California Lyon’s and the guarantors’ future subordinated debt. The 8.5% Notes and the guarantees are and will be effectively junior to any of California Lyon’s and the guarantors’ existing and future secured debt to the extent of the value of the collateral securing such debt.
	7% Senior Notes Due 2022
	On August 11, 2014, WLH PNW Finance Corp. (“Escrow Issuer”), completed its private placement with registration rights of 7.00% Senior Notes due 2022 (the “7.00% Notes”), in an aggregate principal amount of $300 million. The 2022 Notes were issued at 100% of their aggregate principal amount. On August 12, 2014, in connection with the consummation of the Acquisition, Escrow Issuer merged with and into California Lyon, and California Lyon assumed the obligations of the Escrow Issuer under the 2022 Notes and the related indenture by operation of law (the “Escrow Merger”). Following the Escrow Merger, California Lyon is the obligor under the 2022 Notes.
	As of March 31, 2015, the outstanding amount of the notes was $300 million. The notes bear interest at a rate of 7.00% per annum, payable semiannually in arrears on February 15 and August 15, and mature on August 15, 2022. The 7.00% Notes are unconditionally guaranteed on a joint and several unsecured basis by Parent and certain of its existing and future restricted subsidiaries. The 7.00% Notes and the related guarantees are California Lyon’s and the guarantors’ unsecured senior obligations and rank equally in right of payment with all of California Lyon’s and the guarantors’ existing and future unsecured senior debt, including California Lyon’s $150 million in aggregate principal amount of 5.75% Senior Notes due 2019 and $425 million in aggregate principal amount of 8.5% Senior Notes due 2020, each as described above. The 7.00% Notes rank senior in right of payment to all of California Lyon’s and the guarantors’ future subordinated debt. The 7.00% Notes and the guarantees are and will be effectively junior to California Lyon’s and the guarantors’ existing and future secured debt to the extent of the value of the collateral securing such debt.
	Senior Note Covenant Compliance
	The indentures governing the 5.75% Notes, the 8.5% Notes, and the 7.00% Notes contain covenants that limit the ability of Parent, California Lyon, and their restricted subsidiaries to, among other things: (i) incur or guarantee certain additional indebtedness; (ii) pay dividends, distributions, or repurchase equity or make payments in respect of subordinated indebtedness; (iii) make certain investments; (iv) sell assets; (v) incur liens; (vi) enter into agreements restricting the ability of the Company’s restricted subsidiaries to pay dividends or transfer assets; (vii) enter into transactions with affiliates; (viii) create unrestricted subsidiaries; and (viii) consolidate, merge or sell all or substantially all of its assets. These covenants are subject to a number of important exceptions and qualifications as described in the indentures. The Company was in compliance with all such covenants as of March 31, 2015.
	GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS
The following consolidating financial information includes:
(1) Consolidating balance sheets as of March 31, 2015 and December 31, 2014; consolidating statements of operations for the three months ended March 31, 2015 and 2014; and consolidating statements of cash flows for the three month periods ended March 31, 2015 and 2014, of (a) William Lyon Homes, as the parent, or “Delaware Lyon”, (b) William Lyon Homes, Inc., as the subsidiary issuer, or “California Lyon”, (c) the guarantor subsidiaries, (d) the non-guarantor subsidiaries and (e) William Lyon Homes, Inc. on a consolidated basis; and
(2) Elimination entries necessary to consolidate Delaware Lyon, with William Lyon Homes, Inc. and its guarantor and non-guarantor subsidiaries.
Delaware Lyon owns 100% of all of its guarantor subsidiaries and all guarantees are full and unconditional, joint and several. As a result, in accordance with Rule 3-10 (d) of Regulation S-X promulgated by the SEC, no separate financial statements are required for these subsidiaries as of March 31, 2015 and December 31, 2014, and for the three month periods ended March 31, 2015 and 2014.
CONDENSED CONSOLIDATING BALANCE SHEET
(Unaudited)
As of March 31, 2015
(in thousands)
	Unconsolidated
	Delaware			California			Guarantor				Non-Guarantor			Eliminating			Consolidated
	Lyon			Lyon			Subsidiaries				Subsidiaries			Entries			Company
ASSETS
Cash and cash equivalents	$	—		$	26,659		$	380			$	2,411		$	—		$	29,450
Restricted cash	—			504			—				—			—			504
Receivables	—			16,715			815				3,881			—			21,411
Escrow proceeds receivable	—			2,347			4,846				—			—			7,193
Real estate inventories	—			824,361			566,354				87,090			—			1,477,805
Deferred loan costs, net	—			15,773			—				—			—			15,773
Goodwill	—			14,209			46,678				—			—			60,887
Intangibles, net	—			754			6,700				—			—			7,454
Deferred income taxes, net	—			88,361			—				—			—			88,361
Other assets, net	—			17,097			2,172				326			—			19,595
Investments in subsidiaries	576,422			(37,809		)	(586,045		)		—			47,432			—
Intercompany receivables	—			—			233,674				—			(233,674		)	—
Total assets	$	576,422		$	968,971		$	275,574			$	93,708		$	(186,242	)	$	1,728,433
LIABILITIES AND EQUITY
Accounts payable	$	—		$	35,630		$	21,221			$	2,402		$	—		$	59,253
Accrued expenses	—			69,730			4,455				105			—			74,290
Notes payable	—			58,500			—				38,421			—			96,921
Subordinated amortizing notes	—			18,957			—				—			—			18,957
5 3/4% Senior Notes	—			150,000			—				—			—			150,000
8  1/2% Senior Notes	—			429,849			—				—			—			429,849
7% Senior Notes	—			300,000			—				—			—			300,000
Intercompany payables	—			165,826			—				67,848			(233,674		)	—
Total liabilities	—			1,228,492			25,676				108,776			(233,674		)	1,129,270
Equity
William Lyon Homes stockholders’ equity	576,422			(259,521		)	249,898				(37,809		)	47,432			576,422
Noncontrolling interests	—			—			—				22,741			—			22,741
Total liabilities and equity	$	576,422		$	968,971		$	275,574			$	93,708		$	(186,242	)	$	1,728,433
CONDENSED CONSOLIDATING BALANCE SHEET
As of December 31, 2014
(in thousands)
	Unconsolidated
	Delaware			California			Guarantor				Non-Guarantor			Eliminating			Consolidated
	Lyon			Lyon			Subsidiaries				Subsidiaries			Entries			Company
ASSETS
Cash and cash equivalents	$	—		$	48,462		$	573			$	3,736		$	—		$	52,771
Restricted cash	—			504			—				—			—			504
Receivables	—			16,783			878				3,589			—			21,250
Escrow proceeds receivable	—			613			2,302				—			—			2,915
Real estate inventories	—			755,748			554,170				94,721			—			1,404,639
Deferred loan costs, net	—			15,988			—				—			—			15,988
Goodwill	—			14,209			46,678				—			—			60,887
Intangibles, net	—			957			6,700				—			—			7,657
Deferred income taxes, net	—			88,039			—				—			—			88,039
Other assets, net	—			17,243			2,176				358			—			19,777
Investments in subsidiaries	569,915			(35,961		)	(574,129		)		—			40,175			—
Intercompany receivables	—			—			232,895				—			(232,895		)	—
Total assets	$	569,915		$	922,585		$	272,243			$	102,404		$	(192,720	)	$	1,674,427
LIABILITIES AND EQUITY
Accounts payable	$	—		$	28,792		$	19,023			$	3,999		$	—		$	51,814
Accrued expenses	—			76,664			8,610				92			—			85,366
Notes payable	—			384			162				38,689			—			39,235
Subordinated Notes	—			20,717			—				—						20,717
5 3/4% Senior Notes	—			150,000			—				—						150,000
8 1/2% Senior Notes	—			430,149			—				—			—			430,149
7% Senior Notes	—			300,000			—				—						300,000
Intercompany payables	—			164,541			—				68,354			(232,895		)	—
Total liabilities	—			1,171,247			27,795				111,134			(232,895		)	1,077,281
Equity
William Lyon Homes stockholders’ equity	569,915			(248,662		)	244,448				(35,961		)	40,175			569,915
Noncontrolling interests	—			—			—				27,231			—			27,231
Total liabilities and equity	$	569,915		$	922,585		$	272,243			$	102,404		$	(192,720	)	$	1,674,427
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
(Unaudited)
Three Months Ended March 31, 2015
(in thousands)
	Unconsolidated
	Delaware			California			Guarantor				Non-Guarantor			Eliminating			Consolidated
	Lyon			Lyon			Subsidiaries				Subsidiaries			Entries			Company
Operating revenue
Home sales	$	—		$	89,544		$	83,134			$	17,037		$	—		$	189,715
Construction services	—			7,453			—				—			—			7,453
Management fees	—			(511		)	—				—			511			—
	—			96,486			83,134				17,037			511			197,168
Operating costs
Cost of sales - homes	—			(68,876		)	(70,384		)		(14,310		)	(511		)	(154,081		)
Construction services	—			(6,029		)	—				—			—			(6,029		)
Sales and marketing	—			(5,754		)	(5,524		)		(946		)	—			(12,224		)
General and administrative	—			(11,319		)	(2,629		)		—			—			(13,948		)
Amortization of intangible assets	—			(203		)	—				—			—			(203		)
Other	—			(1,136		)	848				—			—			(288		)
	—			(93,317		)	(77,689		)		(15,256		)	(511		)	(186,773		)
Income (loss) from subsidiaries	6,682			(6,744		)	—				—			62			—
Operating income (loss)	6,682			(3,575		)	5,445				1,781			62			10,395
Other income (expense), net	—			4,366			4,813				(8,398		)				781
Income (loss) before provision for income taxes	6,682			791			10,258				(6,617		)	62			11,176
Provision for income taxes	—			(3,570		)	—				—						(3,570		)
Net income (loss)	6,682			(2,779		)	10,258				(6,617		)	62			7,606
Less: Net income attributable to noncontrolling interests	—			—			—				(924		)				(924		)
Net income (loss) attributable to William Lyon Homes	6,682			(2,779		)	10,258				(7,541		)	62			6,682
Net income (loss) available to common stockholders	$	6,682		$	(2,779	)	$	10,258			$	(7,541	)	$	62		$	6,682
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
(Unaudited)
Three Months Ended March 31, 2014
(in thousands)
	Unconsolidated
	Delaware			California			Guarantor				Non-Guarantor			Eliminating			Consolidated
	Lyon			Lyon			Subsidiaries				Subsidiaries			Entries			Company
Operating revenue
Home sales	$	—		$	106,599		$	18,548			$	15,152		$	—		$	140,299
Construction services	—			9,652			—				—			—			9,652
Management fees	—			455			—				—			(455		)	—
	—			116,706			18,548				15,152			(455		)	149,951
Operating costs
Cost of sales - homes	—			(80,429		)	(15,057		)		(11,181		)	455			(106,212		)
Construction services	—			(8,068		)	—				—			—			(8,068		)
Sales and marketing	—			(4,689		)	(1,195		)		(674		)	—			(6,558		)
General and administrative	—			(11,278		)	(858		)		—			—			(12,136		)
Amortization of intangible assets	—			(618		)	—				—			—			(618		)
Other	—			(970		)	(1		)		409			—			(562		)
	—			(106,052		)	(17,111		)		(11,446		)	455			(134,154		)
Income from subsidiaries	8,697			3,015			—				—			(11,712		)	—
Operating income	8,697			13,669			1,437				3,706			(11,712		)	15,797
Other income (expense), net	—			269			(3		)		(147		)	—			119
Income before provision for income taxes	8,697			13,938			1,434				3,559			(11,712		)	15,916
Provision for income taxes	—			(4,574		)	—				—			—			(4,574		)
Net income	8,697			9,364			1,434				3,559			(11,712		)	11,342
Less: Net income attributable to noncontrolling interests	—			—			—				(2,645		)	—			(2,645		)
Net income attributable to William Lyon Homes	8,697			9,364			1,434				914			(11,712		)	8,697
Net income available to common stockholders	$	8,697		$	9,364		$	1,434			$	914		$	(11,712	)	$	8,697
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
(Unaudited)
Three Months Ended March 31, 2015
(in thousands)
	Unconsolidated
	Delaware			California			Guarantor				Non-Guarantor			Eliminating			Consolidated
	Lyon			Lyon			Subsidiaries				Subsidiaries			Entries			Company
Operating activities
Net cash provided by (used in) operating activities	$	175		$	(53,883	)	$	(6,451	)		$	(838	)	$	(175	)	$	(61,172	)
Investing activities
Investments in and advances to unconsolidated joint ventures	—			(1,000		)	—				—			—			(1,000		)
Distributions from unconsolidated joint ventures	—			—			76				—			—			76
Purchases of property and equipment	—			(173		)	15				8			—			(150		)
Investments in subsidiaries	—			(4,896		)	11,916				—			(7,020		)	—
Net cash (used in) provided by investing activities	—			(6,069		)	12,007				8			(7,020		)	(1,074		)
Financing activities
Proceeds from borrowings on notes payable	—			—			—				6,148			—			6,148
Principal payments on notes payable	—			(384		)	(162		)		(6,416		)	—			(6,962		)
Proceeds from issuance of 5 3/4% notes	—			—			—				—			—			—
Proceeds from borrowings on revolver	—			89,000			—				—			—			89,000
Payments on revolver	—			(40,000		)	—							—			(40,000		)
Principal payments on subordinated amortizing notes	—			(1,760		)	—				—			—			(1,760		)
Payment of deferred loan costs	—			(561		)	—				—			—			(561		)
Proceeds from stock options exercised	—			106			—				—			—			106
Shares remitted to or withheld by Company for employee tax withholding	—			(1,632		)	—				—			—			(1,632		)
Noncontrolling interest distributions	—			—			—				(5,414		)	—			(5,414		)
Advances to affiliates	—			—			(4,808		)		5,693			(885		)	—
Intercompany receivables/payables	(175		)	(6,620		)	(779		)		(506		)	8,080			—
Net cash (used in) provided by financing activities	(175		)	38,149			(5,749		)		(495		)	7,195			38,925
Net decrease in cash and cash equivalents	—			(21,803		)	(193		)		(1,325		)	—			(23,321		)
Cash and cash equivalents at beginning of period	—			48,462			573				3,736			—			52,771
Cash and cash equivalents at end of period	$	—		$	26,659		$	380			$	2,411		$	—		$	29,450
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
(Unaudited)
Three Months Ended March 31, 2014
(in thousands)
	Unconsolidated
	Delaware			California			Guarantor				Non-Guarantor			Eliminating			Consolidated
	Lyon			Lyon			Subsidiaries				Subsidiaries			Entries			Company
Operating activities
Net cash provided by (used in) operating activities	$	261		$	(155,347	)	$	2,037			$	(16,426	)	$	(261	)	$	(169,736	)
Investing activities
Purchases of property and equipment	—			(1,264		)	(19		)		10			—			(1,273		)
Investments in subsidiaries	—			46,095			—				—			(46,095		)	—
Net cash provided by (used in) investing activities	—			44,831			(19		)		10			(46,095		)	(1,273		)
Financing activities
Proceeds from borrowings on notes payable	—			(326		)	326				20,112			—			20,112
Principal payments on notes payable	—			(6,857		)	—				(12,607		)	—			(19,464		)
Proceeds from issuance of 5 3/4% notes	—			150,000			—				—			—			150,000
Payment of deferred loan costs	—			(2,549		)	—				—			—			(2,549		)
Proceeds from issuance of common stock	—			288			—				—			—			288
Noncontrolling interest contributions	—			—			—				8,392			—			8,392
Noncontrolling interest distributions	—			—			—				(6,413		)	—			(6,413		)
Advances to affiliates	—			—			6				(43,994		)	43,988			—
Intercompany receivables/payables	(261		)	(54,259		)	(2,208		)		54,360			2,368			—
Net cash (used in) provided by financing activities	(261		)	86,297			(1,876		)		19,850			46,356			150,366
Net (decrease) increase in cash and cash equivalents	—			(24,219		)	142				3,434			—			(20,643		)
Cash and cash equivalents at beginning of period	—			166,516			28				5,128			—			171,672
Cash and cash equivalents at end of period	$	—		$	142,297		$	170			$	8,562		$	—		$	151,029

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments
	In accordance with FASB ASC Topic 820, Fair Value Measurements and Disclosure (“ASC 820”), the Company is required to disclose the estimated fair value of financial instruments. As of March 31, 2015 and December 31, 2014, the Company used the following assumptions to estimate the fair value of each type of financial instrument for which it is practicable to estimate:
	•	Notes payable—The carrying amount is a reasonable estimate of fair value of the notes payable because market rates are unchanged and/or the outstanding balance at quarter end is expected to be repaid within one year.
	•	Subordinated amortizing notes—The Subordinated amortizing notes are traded over the counter and their fair values were based upon quotes from industry sources.
	•	5 3/4% Senior Notes due April 15, 2019 —The 5 3/4% Senior Notes are traded over the counter and their fair values were based upon quotes from industry sources.
	•	8 1/2% Senior Notes due November 15, 2020 —The 8 1/2% Senior Notes are traded over the counter and their fair values were based upon quotes from industry sources.
	•	7% Senior Notes due August 15, 2022 —The 7% Senior Notes are traded over the counter and their fair values were based upon quotes from industry sources.
	The following table excludes cash and cash equivalents, restricted cash, receivables and accounts payable, which had fair values approximating their carrying amounts due to the short maturities and liquidity of these instruments. The estimated fair values of financial instruments are as follows (in thousands):
		31-Mar-15					31-Dec-14
		Carrying			Fair		Carrying		Fair
		Amount			Value		Amount		Value
	Financial liabilities:
	Notes payable	$	96,921		$	96,921	$	39,235	$	39,235
	Subordinated amortizing notes	$	18,957		$	23,340	$	20,717	$	20,717
	5 3/4% Senior Notes due 2019	$	150,000		$	151,500	$	150,000	$	149,250
	8 1/2% Senior Notes due 2020	$	429,849		$	459,000	$	430,149	$	462,410
	7% Senior Notes due 2022	$	300,000		$	308,250	$	300,000	$	300,750
	ASC 820 establishes a framework for measuring fair value, expands disclosures regarding fair value measurements and defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 requires the Company to maximize the use of observable market inputs, minimize the use of unobservable market inputs and disclose in the form of an outlined hierarchy the details of such fair value measurements. The Company used Level 3 to measure the fair value of its Notes payable, and Level 2 to measure the fair value of its Senior notes and Subordinated amortizing notes. ASC 820 specifies a hierarchy of valuation techniques based on whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. The three levels of the hierarchy are as follows:
	•	Level 1—quoted prices for identical assets or liabilities in active markets;
	•	Level 2—quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and
	•	Level 3—valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
	The following table represents a reconciliation of the beginning and ending balance for the Company’s Level 3 fair value measurements:
		Notes
		Payable
		(in thousands)
	Fair value at December 31, 2014	$	39,235
	Repayments of principal (1)	(46,962		)
	Borrowings of principal (2)	104,648
	Increase in value during the period	—
	Fair value at March 31, 2015	$	96,921
	-1	Represents the actual amount of principal repaid
	-2	Represents the actual amount of principal borrowed

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions
	On September 3, 2009, Presley CMR, Inc., a California corporation (“Presley CMR”) and a wholly owned subsidiary of California Lyon, entered into an Aircraft Purchase and Sale Agreement (“PSA”) with an affiliate of General William Lyon to sell an aircraft (the “Aircraft”). The PSA provided for an aggregate purchase price for the Aircraft of $8.3 million, (which value was the appraised fair market value of the Aircraft), which consisted of: (i) cash in the amount of $2.1 million to be paid at closing and (ii) a promissory note from the affiliate in the amount of $6.2 million. The note is secured by the Aircraft. As part of the Company’s fresh start accounting, the note was adjusted to its fair value of $5.2 million. The discount on the fresh start adjustment is amortized over the remaining life of the note. The note requires semiannual interest payments to California Lyon of approximately $0.1 million. The note is due in September 2016. As of March 31, 2015 and December 31, 2014 the amortized balance of the note was $5.9 million and $5.8 million, respectively.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes
	Since inception, the Company has operated solely within the United States. The Company’s effective income tax rate was 31.9% and 28.7% for the three months ended March 31, 2015 and 2014, respectively. The significant drivers of the effective tax rate are allocation of income to noncontrolling interests, related party loss recapture, the domestic production activities deduction, and release of valuation allowance.
	Management assesses its deferred tax assets quarterly to determine whether all or any portion of the asset is more likely than not unrealizable under ASC 740. The Company is required to establish a valuation allowance for any portion of the asset that management concludes is more likely than not to be unrealizable. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The Company's assessment considers all evidence, both positive and negative, including the nature, frequency and severity of any current and cumulative losses, taxable income in carry back years, the scheduled reversal of deferred tax liabilities, tax planning strategies, and projected future taxable income in making this assessment. At March 31, 2015 the Company’s valuation allowance was $1.6 million due to projected excess realized built-in-losses and state net operating losses which may expire unused.
	At March 31, 2015, the Company had $3.6 million remaining federal net operating loss carryforwards and $79.5 million remaining state net operating loss carryforwards. Federal and state net operating loss carryforwards begin to expire in 2031 and 2015, respectively. In addition, as of March 31, 2015, the Company had unused federal and state built-in losses of $64.2 million and $10.3 million, respectively. The 5 year testing period for built-in losses expires in 2017 and the unused built-in loss carryforwards begin to expire in 2032. The Company had AMT credit carryovers of $1.4 million at March 31, 2015, which have an indefinite life.
	Effective January 1, 2007, the Company adopted the provisions of FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes-an interpretation of FASB Statement No. 109” (“FIN 48”) which is now codified as FASB ASC Topic 740, Income Taxes (“ASC 740”). ASC 740 prescribes a recognition threshold and a measurement criterion for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be considered more likely than not to be sustained upon examination by taxing authorities. The Company records interest and penalties related to uncertain tax positions as a component of the provision for income taxes. The Company has no unrecognized tax benefits.
	The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various state jurisdictions. The Company is subject to U.S. federal income tax examination for calendar tax years ended 2011 through 2014 and forward. The Company is subject to various state income tax examinations for calendar tax years ended 2010 through 2014 and forward. The Company does not have any tax examinations currently in progress.

Income_Per_Common_Share

Income Per Common Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Income Per Common Share	Income Per Common Share
	Basic and diluted income per common share for the three months ended March 31, 2015 and 2014 were calculated as follows (in thousands, except number of shares and per share amounts):
		Three		Three
		Months		Months
		Ended		Ended
		March 31,		March 31,
		2015		2014
	Basic weighted average number of common shares outstanding	36,463,995		31,106,310
	Effect of dilutive securities:
	Stock options, unvested common shares, and warrants	1,169,836		1,498,310
	Diluted average shares outstanding	37,633,831		32,604,620
	Net income available to common stockholders	$	6,682	$	8,697
	Basic income per common share	$	0.18	$	0.28
	Dilutive income per common share	$	0.18	$	0.27

Stock_Based_Compensation

Stock Based Compensation	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Based Compensation	Stock Based Compensation
	We account for share-based awards in accordance with ASC Topic 718, Compensation-Stock Compensation, which requires the fair value of stock-based compensation awards to be amortized as an expense over the vesting period. Stock-based compensation awards are valued at the fair value on the date of grant. Compensation expense for awards with performance based conditions is recognized over the vesting period once achievement of the performance condition is deemed probable.
	During the three months ended March 31, 2015, the Company granted 197,614 shares of restricted stock, and 282,216 shares of performance based restricted stock. On the Consolidated Balance Sheets and Statement of Equity, the Company considers unvested shares of restricted stock to be issued, but not outstanding.
	Performance-Based Restricted Stock Awards
	With respect to the performance based restricted stock awards granted to certain employees during the three months ended March 31, 2015, the actual number of such shares of restricted stock that will be earned (the “Earned Shares”) is subject to the Company’s achievement of a pre-established performance target as of the end of the 2015 fiscal year. For each of the aforementioned awards, one-third of the Earned Shares will vest on March 1st of each of 2016, 2017 and 2018, subject to each grantee’s continued service through each vesting date. Based on the assessment as of March 31, 2015, management determined that the currently available data was not sufficient to support that the achievement of performance targets is probable, and as such no compensation expense has been recognized for these awards to date.
	Restricted Stock Awards
	With respect to the restricted stock awards granted to certain employees during the three months ended March 31, 2015, representing 177,397 shares of restricted stock, 141,102 shares are subject to a vesting schedule pursuant to which one-third of the shares will vest on March 1st of each of 2016, 2017 and 2018, and 36,295 of which are subject to a vesting schedule pursuant to which one-half of the shares will vest on March 1st of each of 2016 and 2017. With respect to the restricted stock awards granted to certain non-employee directors of the Company during the three months ended March 31, 2015, representing 20,217 shares of restricted stock, the awards vest in equal quarterly installments on each of June 1, 2015, September 1, 2015, December 1, 2015 and March 1, 2016, subject to each grantee’s continued service on the board through each vesting date.
	Stock based compensation expense during the three months ended March 31, 2015 and 2014 was $1.4 million and $1.0 million, respectively.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies
	The Company’s commitments and contingent liabilities include the usual obligations incurred by real estate developers in the normal course of business. In the opinion of management, these matters will not have a material effect on the Company’s condensed consolidated financial position, results of operations or cash flows.
	The Company is a defendant in various lawsuits related to its normal business activities. We believe that the accruals we have recorded for probable and reasonably estimable losses with respect to these proceedings are adequate and that, as of March 31, 2015, it was not reasonably possible that an additional material loss had been incurred in an amount in excess of the estimated amounts already recognized on our condensed consolidated financial statements. The outcome of any of these proceedings, including the defense and other litigation-related costs and expenses we may incur, however, is inherently uncertain and could differ significantly from the estimate reflected in a related accrual, if made. Therefore, it is possible that the ultimate outcome of any proceeding, if in excess of a related accrual or if no accrual had been made, could be material to our consolidated financial statements.
	We have non-cancelable operating leases primarily associated with our office facilities. Rent expense under cancelable and non-cancelable operating leases totaled $1.0 million and $0.6 million in the three months ended March 31, 2015 and 2014, respectively, and is included in general and administrative expense in our consolidated statements of operations for the respective periods. The table below shows the future minimum payments under non-cancelable operating leases at March 31, 2015 (in thousands).
	Year Ending December 31
	2015	$	1,800
	2016	1,875
	2017	1,647
	2018	1,621
	2019	1,237
	Thereafter	2,124
	Total	$	10,304
	As of March 31, 2015 and December 31, 2014, the Company had $0.5 million and $0.5 million, respectively, in deposits as collateral for outstanding surety bonds to guarantee the Company’s financial obligations under certain contractual arrangements in the normal course of business. The standby letters of credit were secured by cash as reflected as restricted cash on the accompanying consolidated balance sheet.
	The Company also had outstanding performance and surety bonds of $107.8 million at March 31, 2015, related principally to its obligations for site improvements at various projects. The Company does not believe that draws upon these bonds, if any, will have a material effect on the Company’s financial position, results of operations or cash flows. As of March 31, 2015, the Company had $120.6 million of project commitments relating to the construction of projects.
	See Note 6 for additional information relating to the Company’s guarantee arrangements.
	The Company has entered into various purchase option agreements with third parties to acquire land. As of March 31, 2015, the Company has made non-refundable deposits of $56.3 million. The Company is under no obligation to purchase the land, but would forfeit remaining deposits if the land were not purchased. The total remaining purchase price under the option agreements is $448.0 million as of March 31, 2015.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events
	No events have occurred subsequent to March 31, 2015, that would require recognition or disclosure in the Company’s financial statements.

Basis_of_Presentation_and_Sign1

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Operations	Operations
	William Lyon Homes, a Delaware corporation (“Parent” and together with its subsidiaries, the “Company”), is primarily engaged in designing, constructing, marketing and selling single-family detached and attached homes in California, Arizona, Nevada, Colorado (under the Village Homes brand), Washington and Oregon (each under the Polygon Northwest Homes brand).
Basis of Presentation	Basis of Presentation
	The preparation of the Company’s financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of the assets and liabilities as of March 31, 2015 and December 31, 2014 and revenues and expenses for the three month period ended March 31, 2015 and 2014. Accordingly, actual results could differ from those estimates. The significant accounting policies using estimates include real estate inventories and cost of sales, impairment of real estate inventories, warranty reserves, loss contingencies, sales and profit recognition, accounting for variable interest entities, business combinations, and valuation of deferred tax assets. The current economic environment increases the uncertainty inherent in these estimates and assumptions.
	The condensed consolidated financial statements include the accounts of the Company and all majority-owned and controlled subsidiaries and joint ventures, and certain joint ventures and other entities which have been determined to be variable interest entities ("VIEs") in which the Company is considered the primary beneficiary (see Note 3). The accounting policies of the joint ventures are substantially the same as those of the Company. All significant intercompany accounts and transactions have been eliminated in consolidation.
	The condensed consolidated financial statements were prepared from our books and records without audit and include all adjustments (consisting of only normal recurring accruals) necessary to present a fair statement of results for the interim periods presented. Readers of this quarterly report should refer to our audited consolidated financial statements as of and for the year ended December 31, 2014, which are included in our 2014 Annual Report on Form 10-K, as certain disclosures that would substantially duplicate those contained in the audited financial statements have not been included in this report.
Real Estate Inventories	Real Estate Inventories
	Real estate inventories are carried at cost net of impairment losses, if any. Real estate inventories consist primarily of land deposits, land and land under development, homes completed and under construction, and model homes. All direct and indirect land costs, offsite and onsite improvements and applicable interest and other carrying charges are capitalized to real estate projects during periods when the project is under development. Land, offsite costs and all other common costs are allocated to land parcels benefited based upon relative fair values before construction. Onsite construction costs and related carrying charges (principally interest and property taxes) are allocated to the individual homes within a phase based upon the relative sales value of the homes. The Company relieves its real estate inventories through cost of sales for the estimated cost of homes sold. Selling expenses and other marketing costs are expensed in the period incurred.
	A provision for warranty costs relating to the Company’s limited warranty plans is included in cost of sales and accrued expenses at the time the sale of a home is recorded. The Company generally reserves either approximately one to one and one quarter percent of the sales price of its homes, or a set amount per home closed depending on the operating division, against the possibility of future charges relating to its warranty programs and similar potential claims. Factors that affect the Company’s warranty liability include the number of homes under warranty, historical and anticipated rates of warranty claims, and cost per claim. The Company assesses the adequacy of its recorded warranty liability and adjusts the amounts as necessary.
Construction Services	Construction Services
	The Company accounts for construction management agreements using the Percentage of Completion Method in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 605 Revenue Recognition (“ASC 605”). Under ASC 605, the Company records revenues and expenses as a contracted project progresses, and based on the percentage of costs incurred to date compared to the total estimated costs of the contract.
Financial Instruments	Financial Instruments
	Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents, restricted cash, receivables, and deposits. The Company typically places its cash and cash equivalents in investment grade short-term instruments. Deposits, included in other assets, are due from municipalities or utility companies and are generally collected from such entities through fees assessed to other developers. The Company is an issuer of, or subject to, financial instruments with off-balance sheet risk in the normal course of business which exposes it to credit risks. These financial instruments include letters of credit and obligations in connection with assessment district bonds. These off-balance sheet financial instruments are described in more detail in Note 12.
Cash and Cash Equivalents	Cash and Cash Equivalents
	Short-term investments with a maturity of three months or less when purchased are considered cash equivalents. The Company’s cash and cash equivalents balance exceeds federally insurable limits as of March 31, 2015 and December 31, 2014. The Company monitors the cash balances in its operating accounts and adjusts the cash balances between accounts based on operational needs; however, these cash balances could be negatively impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts.
Restricted Cash	Restricted Cash
	Restricted cash consists of deposits made by the Company to a bank account as collateral for the use of letters of credit to guarantee the Company’s financial obligations under certain other contractual arrangements in the normal course of business.
Deferred Loan Costs	Deferred Loan Costs
	Deferred loan costs represent debt issuance costs and are primarily amortized to interest incurred using the straight line method which approximates the effective interest method.
Goodwill	Goodwill
	In accordance with the provisions of ASC 350, Intangibles, Goodwill and Other, goodwill amounts are not amortized, but rather are analyzed for impairment at the reporting segment level. Goodwill is analyzed on an annual basis, or when indicators of impairment exist. We have determined that we have six reporting segments, as discussed in Note 4, and we perform an annual goodwill impairment analysis during the fourth quarter of each fiscal year.
Intangibles	Intangibles
	Recorded intangible assets primarily relate to brand names of acquired entities, construction management contracts, homes in backlog, and joint venture management fee contracts recorded in conjunction with FASB ASC Topic 852, Reorganizations ("ASC 852"), or FASB ASC Topic 805, Business Combinations ("ASC 805"). All Intangible assets with the exception of those relating to brand names were valued based on expected cash flows related to home closings, and the asset is amortized on a per unit basis, as homes under the contracts close. Our brand name intangible assets are deemed to have an indefinite useful life.
Income per common share	Income per common share
	The Company computes income per common share in accordance with FASB ASC Topic 260, Earnings per Share, which requires income per common share for each class of stock to be calculated using the two-class method. The two-class method is an allocation of income between the holders of common stock and a company’s participating security holders.
	Basic income per common share is computed by dividing income or loss available to common stockholders by the weighted average number of shares of common stock outstanding. For purposes of determining diluted income per common share, basic income per common share is further adjusted to include the effect of potential dilutive common shares.
Income Taxes	Income Taxes
	Income taxes are accounted for under the provisions of Financial Accounting Standards Board ASC 740, Income Taxes, using an asset and liability approach. Deferred income taxes reflect the net effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, and operating loss and tax credit carryforwards measured by applying currently enacted tax laws. A valuation allowance is provided to reduce net deferred tax assets to an amount that is more likely than not to be realized. ASC 740 prescribes a recognition threshold and a measurement criteria for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be considered “more-likely-than-not” to be sustained upon examination by taxing authorities. In addition, the Company has elected to recognize interest and penalties related to uncertain tax positions in the income tax provision.

Basis_of_Presentation_and_Sign2

Basis of Presentation and Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Summary of Changes in Warranty Liability	Changes in the Company’s warranty liability for the three months ended March 31, 2015 and 2014, are as follows (in thousands):
		Three			Three
		Months			Months
		Ended			Ended
		March 31,			March 31,
		2015			2014
	Warranty liability, beginning of period	$	18,155		$	14,935
	Warranty provision during period	1,391			1,675
	Warranty payments during period	(2,011		)	(1,575		)
	Warranty charges related to construction services projects	180			333
	Warranty liability, end of period	$	17,715		$	15,368
Schedule of Interest Activity	Interest activity for the three months ended March 31, 2015 and 2014 are as follows (in thousands):
		Three			Three
		Months			Months
		Ended			Ended
		March 31,			March 31,
		2015			2014
	Interest incurred	$	18,033		$	9,395
	Less: Interest capitalized	18,033			9,395
	Interest expense, net of amounts capitalized	$	—		$	—
	Cash paid for interest	$	11,700		$	620

Acquisition_of_Polygon_Northwe1

Acquisition of Polygon Northwest Homes (Tables)	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Schedule of Reconciliation of Consideration Transferred as of Acquisition Date	A reconciliation of the consideration transferred as of the acquisition date is as follows:
	Purchase consideration	$	552,252
	Net proceeds received from Polygon parcels involved in land banking transactions (excludes California)	(59,834		)
		$	492,418
Summary of Preliminary Amounts for Acquired Assets and Liabilities Recorded at Fair Value	The following table summarizes the preliminary amounts for acquired assets and liabilities recorded at their fair values as of the acquisition date (in thousands):
	Assets Acquired
		Real estate inventories		$	441,069
		Goodwill		46,678
		Intangible asset - brand name		6,700
		Joint venture in mortgage business		2,000
		Other		545
		Total Assets		$	496,992
	Liabilities Assumed
		Accounts payable		$	603
		Accrued expenses		3,971
		Total liabilities		4,574
		Net assets acquired		$	492,418
Summary of Unaudited Pro Forma Amounts of Polygon Northwest Homes Acquisition	The following table presents unaudited pro forma amounts for the three months ended March 31, 2014 as if the Acquisition had been completed as of January 1, 2013 (amounts in thousands, except per share data):
		Three
		Months
		Ended
		March 31,
		2014
	Operating revenues	$	193,121
	Net income available to common stockholders	$	10,233
	Income per share - basic	$	0.33
	Income per share - diluted	$	0.31

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Schedule of Segment Financial Information Relating to Operations	Segment financial information relating to the Company’s operations was as follows (in thousands):
		Three			Three
		Months			Months
		Ended			Ended
		March 31,			March 31,
		2015			2014
	Operating revenue:
	California (1)	$	86,793		$	114,255
	Arizona	7,186			13,278
	Nevada	27,242			17,149
	Colorado	18,189			5,269
	Washington	31,280			—
	Oregon	26,478			—
	Total operating revenue	$	197,168		$	149,951
	(1) Operating revenue in the California segment includes construction services revenue.
		Three			Three
		Months			Months
		Ended			Ended
		March 31,			March 31,
		2015			2014
	Income before provision for income taxes
	California	$	9,312		$	20,638
	Arizona	304			1,351
	Nevada	3,362			1,356
	Colorado	(170		)	(659		)
	Washington	2,573			—
	Oregon	2,245			—
	Corporate	(6,450		)	(6,770		)
	Income before provision for income taxes	$	11,176		$	15,916
Schedule of Segment Homebuilding Assets
		31-Mar-15			31-Dec-14
	Homebuilding assets:
	California	$	603,582		$	572,900
	Arizona	188,262			179,529
	Nevada	155,511			135,358
	Colorado	129,688			131,085
	Washington	254,785			281,456
	Oregon	189,907			200,761
	Corporate (1)	206,698			173,338
	Total homebuilding assets	$	1,728,433		$	1,674,427
	-1	Comprised primarily of cash and cash equivalents, deferred income taxes, receivables, deferred loan costs, and other assets.

Real_Estate_Inventories_Tables

Real Estate Inventories (Tables)	3 Months Ended
	Mar. 31, 2015
Real Estate [Abstract]
Schedule of Real Estate Inventories	Real estate inventories consist of the following (in thousands):
		31-Mar-15		31-Dec-14
	Real estate inventories:
	Land deposits	$	56,882	$	65,873
	Land and land under development	972,917		1,057,860
	Homes completed and under construction	366,822		225,496
	Model homes	81,184		55,410
	Total	$	1,477,805	$	1,404,639

Senior_Notes_Secured_and_Unsec1

Senior Notes, Secured, and Unsecured Indebtedness (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Schedule of Debt
		31-Mar-15			31-Dec-14
	Notes payable:
	Construction notes payable	$	38,421		$	38,688
	Seller financing	9,500			547
	Revolving line of credit	49,000			—
	Total notes payable	96,921			39,235
	Subordinated amortizing notes	18,957			20,717
	Senior notes:
	5 3/4% Senior Notes due April 15, 2019	150,000			150,000
	8 1/2% Senior Notes due November 15, 2020	429,849			430,149
	7% Senior Notes due August 15, 2022	300,000			300,000
	Total senior notes	879,849			880,149
	Total notes payable and senior notes	$	995,727		$	940,101
Schedule of Maturities of Notes Payable and Senior Notes	As of March 31, 2015, the maturities of the Notes payable, Subordinated amortizing notes, 5 3/4% Senior Notes, 8 1/2% Senior Notes, and 7% Senior Notes are as follows (in thousands):
	Year Ending December 31,
	2015	$	9,500
	2016	12,090
	2017	94,288
	2018	—
	2019	150,000
	Thereafter	725,000
		$	990,878
	The issuance date, total availability under each facility outstanding, maturity date and interest rate are listed in the table below as of March 31, 2015 (in millions):
	Issuance Date		Facility Size			Outstanding			Maturity		Current Rate
	November, 2014		24			13.5			November, 2017		3.75	%	-1
	November, 2014		22			12.8			November, 2017		3.75	%	-1
	March, 2014		26			5.3			October, 2016		3.17	%	-2
	December, 2013		18.6			6.8			January, 2016		4.25	%	-2
	June, 2013		28			—			June, 2016		4	%	-3
			$	118.6		$	38.4
	(1) Loan bears interest at the prime rate +0.5%.
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET
	(Unaudited)
	As of March 31, 2015
	(in thousands)
		Unconsolidated
		Delaware			California			Guarantor				Non-Guarantor			Eliminating			Consolidated
		Lyon			Lyon			Subsidiaries				Subsidiaries			Entries			Company
	ASSETS
	Cash and cash equivalents	$	—		$	26,659		$	380			$	2,411		$	—		$	29,450
	Restricted cash	—			504			—				—			—			504
	Receivables	—			16,715			815				3,881			—			21,411
	Escrow proceeds receivable	—			2,347			4,846				—			—			7,193
	Real estate inventories	—			824,361			566,354				87,090			—			1,477,805
	Deferred loan costs, net	—			15,773			—				—			—			15,773
	Goodwill	—			14,209			46,678				—			—			60,887
	Intangibles, net	—			754			6,700				—			—			7,454
	Deferred income taxes, net	—			88,361			—				—			—			88,361
	Other assets, net	—			17,097			2,172				326			—			19,595
	Investments in subsidiaries	576,422			(37,809		)	(586,045		)		—			47,432			—
	Intercompany receivables	—			—			233,674				—			(233,674		)	—
	Total assets	$	576,422		$	968,971		$	275,574			$	93,708		$	(186,242	)	$	1,728,433
	LIABILITIES AND EQUITY
	Accounts payable	$	—		$	35,630		$	21,221			$	2,402		$	—		$	59,253
	Accrued expenses	—			69,730			4,455				105			—			74,290
	Notes payable	—			58,500			—				38,421			—			96,921
	Subordinated amortizing notes	—			18,957			—				—			—			18,957
	5 3/4% Senior Notes	—			150,000			—				—			—			150,000
	8  1/2% Senior Notes	—			429,849			—				—			—			429,849
	7% Senior Notes	—			300,000			—				—			—			300,000
	Intercompany payables	—			165,826			—				67,848			(233,674		)	—
	Total liabilities	—			1,228,492			25,676				108,776			(233,674		)	1,129,270
	Equity
	William Lyon Homes stockholders’ equity	576,422			(259,521		)	249,898				(37,809		)	47,432			576,422
	Noncontrolling interests	—			—			—				22,741			—			22,741
	Total liabilities and equity	$	576,422		$	968,971		$	275,574			$	93,708		$	(186,242	)	$	1,728,433
	CONDENSED CONSOLIDATING BALANCE SHEET
	As of December 31, 2014
	(in thousands)
		Unconsolidated
		Delaware			California			Guarantor				Non-Guarantor			Eliminating			Consolidated
		Lyon			Lyon			Subsidiaries				Subsidiaries			Entries			Company
	ASSETS
	Cash and cash equivalents	$	—		$	48,462		$	573			$	3,736		$	—		$	52,771
	Restricted cash	—			504			—				—			—			504
	Receivables	—			16,783			878				3,589			—			21,250
	Escrow proceeds receivable	—			613			2,302				—			—			2,915
	Real estate inventories	—			755,748			554,170				94,721			—			1,404,639
	Deferred loan costs, net	—			15,988			—				—			—			15,988
	Goodwill	—			14,209			46,678				—			—			60,887
	Intangibles, net	—			957			6,700				—			—			7,657
	Deferred income taxes, net	—			88,039			—				—			—			88,039
	Other assets, net	—			17,243			2,176				358			—			19,777
	Investments in subsidiaries	569,915			(35,961		)	(574,129		)		—			40,175			—
	Intercompany receivables	—			—			232,895				—			(232,895		)	—
	Total assets	$	569,915		$	922,585		$	272,243			$	102,404		$	(192,720	)	$	1,674,427
	LIABILITIES AND EQUITY
	Accounts payable	$	—		$	28,792		$	19,023			$	3,999		$	—		$	51,814
	Accrued expenses	—			76,664			8,610				92			—			85,366
	Notes payable	—			384			162				38,689			—			39,235
	Subordinated Notes	—			20,717			—				—						20,717
	5 3/4% Senior Notes	—			150,000			—				—						150,000
	8 1/2% Senior Notes	—			430,149			—				—			—			430,149
	7% Senior Notes	—			300,000			—				—						300,000
	Intercompany payables	—			164,541			—				68,354			(232,895		)	—
Total liabilities	—			1,171,247			27,795				111,134			(232,895		)	1,077,281
Equity
William Lyon Homes stockholders’ equity	569,915			(248,662		)	244,448				(35,961		)	40,175			569,915
Noncontrolling interests	—			—			—				27,231			—			27,231
Total liabilities and equity	$	569,915		$	922,585		$	272,243			$	102,404		$	(192,720	)	$	1,674,427
Condensed Consolidating Statement of Operations	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
	(Unaudited)
	Three Months Ended March 31, 2015
	(in thousands)
		Unconsolidated
		Delaware			California			Guarantor				Non-Guarantor			Eliminating			Consolidated
		Lyon			Lyon			Subsidiaries				Subsidiaries			Entries			Company
	Operating revenue
	Home sales	$	—		$	89,544		$	83,134			$	17,037		$	—		$	189,715
	Construction services	—			7,453			—				—			—			7,453
	Management fees	—			(511		)	—				—			511			—
		—			96,486			83,134				17,037			511			197,168
	Operating costs
	Cost of sales - homes	—			(68,876		)	(70,384		)		(14,310		)	(511		)	(154,081		)
	Construction services	—			(6,029		)	—				—			—			(6,029		)
	Sales and marketing	—			(5,754		)	(5,524		)		(946		)	—			(12,224		)
	General and administrative	—			(11,319		)	(2,629		)		—			—			(13,948		)
	Amortization of intangible assets	—			(203		)	—				—			—			(203		)
	Other	—			(1,136		)	848				—			—			(288		)
		—			(93,317		)	(77,689		)		(15,256		)	(511		)	(186,773		)
	Income (loss) from subsidiaries	6,682			(6,744		)	—				—			62			—
	Operating income (loss)	6,682			(3,575		)	5,445				1,781			62			10,395
	Other income (expense), net	—			4,366			4,813				(8,398		)				781
	Income (loss) before provision for income taxes	6,682			791			10,258				(6,617		)	62			11,176
	Provision for income taxes	—			(3,570		)	—				—						(3,570		)
	Net income (loss)	6,682			(2,779		)	10,258				(6,617		)	62			7,606
	Less: Net income attributable to noncontrolling interests	—			—			—				(924		)				(924		)
	Net income (loss) attributable to William Lyon Homes	6,682			(2,779		)	10,258				(7,541		)	62			6,682
	Net income (loss) available to common stockholders	$	6,682		$	(2,779	)	$	10,258			$	(7,541	)	$	62		$	6,682
	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
	(Unaudited)
	Three Months Ended March 31, 2014
	(in thousands)
		Unconsolidated
		Delaware			California			Guarantor				Non-Guarantor			Eliminating			Consolidated
		Lyon			Lyon			Subsidiaries				Subsidiaries			Entries			Company
	Operating revenue
	Home sales	$	—		$	106,599		$	18,548			$	15,152		$	—		$	140,299
	Construction services	—			9,652			—				—			—			9,652
	Management fees	—			455			—				—			(455		)	—
		—			116,706			18,548				15,152			(455		)	149,951
	Operating costs
	Cost of sales - homes	—			(80,429		)	(15,057		)		(11,181		)	455			(106,212		)
	Construction services	—			(8,068		)	—				—			—			(8,068		)
	Sales and marketing	—			(4,689		)	(1,195		)		(674		)	—			(6,558		)
	General and administrative	—			(11,278		)	(858		)		—			—			(12,136		)
	Amortization of intangible assets	—			(618		)	—				—			—			(618		)
	Other	—			(970		)	(1		)		409			—			(562		)
		—			(106,052		)	(17,111		)		(11,446		)	455			(134,154		)
	Income from subsidiaries	8,697			3,015			—				—			(11,712		)	—
	Operating income	8,697			13,669			1,437				3,706			(11,712		)	15,797
	Other income (expense), net	—			269			(3		)		(147		)	—			119
	Income before provision for income taxes	8,697			13,938			1,434				3,559			(11,712		)	15,916
	Provision for income taxes	—			(4,574		)	—				—			—			(4,574		)
	Net income	8,697			9,364			1,434				3,559			(11,712		)	11,342
	Less: Net income attributable to noncontrolling interests	—			—			—				(2,645		)	—			(2,645		)
	Net income attributable to William Lyon Homes	8,697			9,364			1,434				914			(11,712		)	8,697
	Net income available to common stockholders	$	8,697		$	9,364		$	1,434			$	914		$	(11,712	)	$	8,697
Condensed Consolidating Statement of Cash Flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
	(Unaudited)
	Three Months Ended March 31, 2015
	(in thousands)
		Unconsolidated
		Delaware			California			Guarantor				Non-Guarantor			Eliminating			Consolidated
		Lyon			Lyon			Subsidiaries				Subsidiaries			Entries			Company
	Operating activities
	Net cash provided by (used in) operating activities	$	175		$	(53,883	)	$	(6,451	)		$	(838	)	$	(175	)	$	(61,172	)
	Investing activities
	Investments in and advances to unconsolidated joint ventures	—			(1,000		)	—				—			—			(1,000		)
	Distributions from unconsolidated joint ventures	—			—			76				—			—			76
	Purchases of property and equipment	—			(173		)	15				8			—			(150		)
	Investments in subsidiaries	—			(4,896		)	11,916				—			(7,020		)	—
	Net cash (used in) provided by investing activities	—			(6,069		)	12,007				8			(7,020		)	(1,074		)
	Financing activities
	Proceeds from borrowings on notes payable	—			—			—				6,148			—			6,148
	Principal payments on notes payable	—			(384		)	(162		)		(6,416		)	—			(6,962		)
	Proceeds from issuance of 5 3/4% notes	—			—			—				—			—			—
	Proceeds from borrowings on revolver	—			89,000			—				—			—			89,000
	Payments on revolver	—			(40,000		)	—							—			(40,000		)
	Principal payments on subordinated amortizing notes	—			(1,760		)	—				—			—			(1,760		)
	Payment of deferred loan costs	—			(561		)	—				—			—			(561		)
	Proceeds from stock options exercised	—			106			—				—			—			106
	Shares remitted to or withheld by Company for employee tax withholding	—			(1,632		)	—				—			—			(1,632		)
	Noncontrolling interest distributions	—			—			—				(5,414		)	—			(5,414		)
	Advances to affiliates	—			—			(4,808		)		5,693			(885		)	—
	Intercompany receivables/payables	(175		)	(6,620		)	(779		)		(506		)	8,080			—
	Net cash (used in) provided by financing activities	(175		)	38,149			(5,749		)		(495		)	7,195			38,925
	Net decrease in cash and cash equivalents	—			(21,803		)	(193		)		(1,325		)	—			(23,321		)
	Cash and cash equivalents at beginning of period	—			48,462			573				3,736			—			52,771
	Cash and cash equivalents at end of period	$	—		$	26,659		$	380			$	2,411		$	—		$	29,450
	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
	(Unaudited)
	Three Months Ended March 31, 2014
	(in thousands)
		Unconsolidated
		Delaware			California			Guarantor				Non-Guarantor			Eliminating			Consolidated
		Lyon			Lyon			Subsidiaries				Subsidiaries			Entries			Company
	Operating activities
	Net cash provided by (used in) operating activities	$	261		$	(155,347	)	$	2,037			$	(16,426	)	$	(261	)	$	(169,736	)
	Investing activities
	Purchases of property and equipment	—			(1,264		)	(19		)		10			—			(1,273		)
	Investments in subsidiaries	—			46,095			—				—			(46,095		)	—
	Net cash provided by (used in) investing activities	—			44,831			(19		)		10			(46,095		)	(1,273		)
	Financing activities
	Proceeds from borrowings on notes payable	—			(326		)	326				20,112			—			20,112
	Principal payments on notes payable	—			(6,857		)	—				(12,607		)	—			(19,464		)
	Proceeds from issuance of 5 3/4% notes	—			150,000			—				—			—			150,000
	Payment of deferred loan costs	—			(2,549		)	—				—			—			(2,549		)
	Proceeds from issuance of common stock	—			288			—				—			—			288
	Noncontrolling interest contributions	—			—			—				8,392			—			8,392
	Noncontrolling interest distributions	—			—			—				(6,413		)	—			(6,413		)
	Advances to affiliates	—			—			6				(43,994		)	43,988			—
	Intercompany receivables/payables	(261		)	(54,259		)	(2,208		)		54,360			2,368			—
	Net cash (used in) provided by financing activities	(261		)	86,297			(1,876		)		19,850			46,356			150,366
	Net (decrease) increase in cash and cash equivalents	—			(24,219		)	142				3,434			—			(20,643		)
	Cash and cash equivalents at beginning of period	—			166,516			28				5,128			—			171,672
	Cash and cash equivalents at end of period	$	—		$	142,297		$	170			$	8,562		$	—		$	151,029

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of Estimated Fair Values of Financial Instruments	The estimated fair values of financial instruments are as follows (in thousands):
		31-Mar-15					31-Dec-14
		Carrying			Fair		Carrying		Fair
		Amount			Value		Amount		Value
	Financial liabilities:
	Notes payable	$	96,921		$	96,921	$	39,235	$	39,235
	Subordinated amortizing notes	$	18,957		$	23,340	$	20,717	$	20,717
	5 3/4% Senior Notes due 2019	$	150,000		$	151,500	$	150,000	$	149,250
	8 1/2% Senior Notes due 2020	$	429,849		$	459,000	$	430,149	$	462,410
	7% Senior Notes due 2022	$	300,000		$	308,250	$	300,000	$	300,750
Schedule of Reconciliation of the Beginning and Ending Balance for Level 3 Fair Value Measurements	The following table represents a reconciliation of the beginning and ending balance for the Company’s Level 3 fair value measurements:
		Notes
		Payable
		(in thousands)
	Fair value at December 31, 2014	$	39,235
	Repayments of principal (1)	(46,962		)
	Borrowings of principal (2)	104,648
	Increase in value during the period	—
	Fair value at March 31, 2015	$	96,921
	-1	Represents the actual amount of principal repaid
	-2	Represents the actual amount of principal borrowed

Income_Per_Common_Share_Tables

Income Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Basic and Diluted Income (Loss) Per Common Share	Basic and diluted income per common share for the three months ended March 31, 2015 and 2014 were calculated as follows (in thousands, except number of shares and per share amounts):
		Three		Three
		Months		Months
		Ended		Ended
		March 31,		March 31,
		2015		2014
	Basic weighted average number of common shares outstanding	36,463,995		31,106,310
	Effect of dilutive securities:
	Stock options, unvested common shares, and warrants	1,169,836		1,498,310
	Diluted average shares outstanding	37,633,831		32,604,620
	Net income available to common stockholders	$	6,682	$	8,697
	Basic income per common share	$	0.18	$	0.28
	Dilutive income per common share	$	0.18	$	0.27

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments Under Non-Cancelable Operating Leases	The table below shows the future minimum payments under non-cancelable operating leases at March 31, 2015 (in thousands).
	Year Ending December 31
	2015	$	1,800
	2016	1,875
	2017	1,647
	2018	1,621
	2019	1,237
	Thereafter	2,124
	Total	$	10,304

Basis_of_Presentation_and_Sign3

Basis of Presentation and Significant Accounting Policies - Narrative (Details)	3 Months Ended
	Mar. 31, 2015
	segment
Significant Accounting Policies [Line Items]
Number of reportable segments	6
Minimum
Significant Accounting Policies [Line Items]
Percentage of home sale price reserved	1.00%
Percentage of sales price from construction management agreements	3.00%
Maximum
Significant Accounting Policies [Line Items]
Percentage of home sale price reserved	1.25%
Percentage of sales price from construction management agreements	5.00%

Basis_of_Presentation_and_Sign4

Basis of Presentation and Significant Accounting Policies - Summary of Changes in Warranty Liability (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Accounting Policies [Abstract]
Warranty liability, beginning of period	$18,155	$14,935
Warranty provision during period	1,391	1,675
Warranty payments during period	-2,011	-1,575
Warranty charges related to construction services projects	180	333
Warranty liability, end of period	$17,715	$15,368

Basis_of_Presentation_and_Sign5

Basis of Presentation and Significant Accounting Policies - Schedule of Interest Activity (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Accounting Policies [Abstract]
Interest incurred	$18,033	$9,395
Less: Interest capitalized	18,033	9,395
Interest expense, net of amounts capitalized	0	0
Cash paid for interest	$11,700	$620

Acquisition_of_Polygon_Northwe2

Acquisition of Polygon Northwest Homes - Narrative (Details) (USD $)	3 Months Ended		12 Months Ended	0 Months Ended	12 Months Ended	0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2013	Aug. 12, 2014	Dec. 31, 2014	Aug. 11, 2014
	segment		segment	segment	segment
Business Acquisition [Line Items]
Number of operating segments as a result of acquired business	1		5
Operation revenues	$197,168,000	$149,951,000
Income before provision for income taxes	11,176,000	15,916,000
Polygon Northwest Homes
Business Acquisition [Line Items]
Cash purchase price				520,000,000
Working capital adjustments				28,000,000
Additional consideration, partly subject to final adjustment				4,300,000
Number of operating segments as a result of acquired business				2	6
Goodwill, expected tax deductible amount	46,700,000
Acquisition related costs	0
7% Senior Notes due August 15, 2022
Business Acquisition [Line Items]
Stated interest rate	7.00%				7.00%
7% Senior Notes due August 15, 2022 | Senior notes
Business Acquisition [Line Items]
Principal amount	300,000,000					300,000,000
Stated interest rate	7.00%					7.00%
Proceeds from land banking arrangements						100,000,000
Senior unsecured loan facility
Business Acquisition [Line Items]
Total senior notes						120,000,000
Polygon Northwest Homes
Business Acquisition [Line Items]
Operation revenues	57,800,000
Income before provision for income taxes	$4,800,000

Acquisition_of_Polygon_Northwe3

Acquisition of Polygon Northwest Homes - Schedule of Reconciliation of Consideration Transferred as of Acquisition Date (Details) (Polygon Northwest Homes, USD $)	0 Months Ended
In Thousands, unless otherwise specified	Aug. 12, 2014
Polygon Northwest Homes
Business Acquisition [Line Items]
Purchase consideration	$552,252
Net proceeds received from Polygon parcels involved in land banking transactions (excludes California)	-59,834
Total consideration transferred	$492,418

Acquisition_of_Polygon_Northwe4

Acquisition of Polygon Northwest Homes - Summary of Preliminary Amounts for Acquired Assets and Liabilities Recorded at Fair Value (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Aug. 12, 2014
In Thousands, unless otherwise specified
Assets Acquired
Goodwill	$60,887	$60,887
Polygon Northwest Homes
Assets Acquired
Real estate inventories			441,069
Goodwill			46,678
Intangible asset - brand name			6,700
Joint venture in mortgage business			2,000
Other			545
Total Assets			496,992
Liabilities Assumed
Accounts payable			603
Accrued expenses			3,971
Total liabilities			4,574
Assets, Net			$492,418

Acquisition_of_Polygon_Northwe5

Acquisition of Polygon Northwest Homes - Summary of Unaudited Pro Forma Amounts of Polygon Northwest Homes Acquisition (Details) (Polygon Northwest Homes, USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014
Polygon Northwest Homes
Business Acquisition [Line Items]
Operating revenues	$193,121
Net income available to common stockholders	$10,233
Income per share - basic (in USD per share)	$0.33
Income per share - diluted (in USD per share)	$0.31

Variable_Interest_Entities_and1

Variable Interest Entities and Noncontrolling Interests - Narrative (Details) (USD $)	3 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
	joint_venture	joint_venture
Noncontrolling Interest [Line Items]
Number of joint ventures	6	6
Consolidated variable interest entities, assets	$79.30	$88.10
Consolidated variable interest entities, liabilities	42.3	45
Cash
Noncontrolling Interest [Line Items]
Consolidated variable interest entities, assets	2	3.3
Real estate
Noncontrolling Interest [Line Items]
Consolidated variable interest entities, assets	$73.60	$81.30

Segment_Information_Narrative_

Segment Information - Narrative (Details)	3 Months Ended	12 Months Ended	0 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2013	Aug. 12, 2014	Dec. 31, 2014
	segment	segment	segment	segment
Segment Reporting Information [Line Items]
Number of operating segments	1	5
Polygon Northwest Homes
Segment Reporting Information [Line Items]
Number of operating segments			2	6

Segment_Information_Schedule_o

Segment Information - Schedule of Segment Financial Information Relating to Operations (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Operating revenue
Total operating revenue	$197,168		$149,951
Income before provision for income taxes
Income before provision for income taxes	11,176		15,916
Reportable Geographical Components | California
Operating revenue
Total operating revenue	86,793	[1]	114,255	[1]
Income before provision for income taxes
Income before provision for income taxes	9,312		20,638
Reportable Geographical Components | Arizona
Operating revenue
Total operating revenue	7,186		13,278
Income before provision for income taxes
Income before provision for income taxes	304		1,351
Reportable Geographical Components | Nevada
Operating revenue
Total operating revenue	27,242		17,149
Income before provision for income taxes
Income before provision for income taxes	3,362		1,356
Reportable Geographical Components | Colorado
Operating revenue
Total operating revenue	18,189		5,269
Income before provision for income taxes
Income before provision for income taxes	-170		-659
Reportable Geographical Components | Washington
Operating revenue
Total operating revenue	31,280		0
Income before provision for income taxes
Income before provision for income taxes	2,573		0
Reportable Geographical Components | Oregon
Operating revenue
Total operating revenue	26,478		0
Income before provision for income taxes
Income before provision for income taxes	2,245		0
Reportable Geographical Components | Corporate
Income before provision for income taxes
Income before provision for income taxes	($6,450)		($6,770)
[1]	Operating revenue in the California segment includes construction services revenue.

Segment_Information_Schedule_o1

Segment Information - Schedule of Segment Homebuilding Assets (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Thousands, unless otherwise specified
Homebuilding assets:
Total homebuilding assets	$1,728,433		$1,674,427
California | Reportable Geographical Components
Homebuilding assets:
Total homebuilding assets	603,582		572,900
Arizona | Reportable Geographical Components
Homebuilding assets:
Total homebuilding assets	188,262		179,529
Nevada | Reportable Geographical Components
Homebuilding assets:
Total homebuilding assets	155,511		135,358
Colorado | Reportable Geographical Components
Homebuilding assets:
Total homebuilding assets	129,688		131,085
Washington | Reportable Geographical Components
Homebuilding assets:
Total homebuilding assets	254,785		281,456
Oregon | Reportable Geographical Components
Homebuilding assets:
Total homebuilding assets	189,907		200,761
Corporate | Reportable Geographical Components
Homebuilding assets:
Total homebuilding assets	$206,698	[1]	$173,338	[1]
[1]	Comprised primarily of cash and cash equivalents, deferred income taxes, receivables, deferred loan costs, and other assets.

Real_Estate_Inventories_Summar

Real Estate Inventories - Summary of Real Estate Inventories (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Real estate inventories:
Land deposits	$56,882	$65,873
Land and land under development	972,917	1,057,860
Homes completed and under construction	366,822	225,496
Model homes	81,184	55,410
Total	$1,477,805	$1,404,639

Senior_Notes_Secured_and_Unsec2

Senior Notes, Secured, and Unsecured Indebtedness - Schedule of Debt (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Notes payable:
Total notes payable	$96,921	$39,235
Total debt	995,727	940,101
Subordinated amortizing notes
Notes payable:
Total debt	18,957	20,717
5 3/4% Senior Notes due April 15, 2019
Notes payable:
Total debt	150,000	150,000
8 1/2% Senior Notes due November 15, 2020
Notes payable:
Total debt	429,849	430,149
7% Senior Notes due August 15, 2022
Notes payable:
Total debt	300,000	300,000
Construction notes payable
Notes payable:
Total notes payable	38,421	38,688
Seller financing
Notes payable:
Total notes payable	9,500	547
Revolving line of credit
Notes payable:
Total notes payable	49,000	0
Senior notes
Notes payable:
Total debt	$879,849	$880,149

Senior_Notes_Secured_and_Unsec3

Senior Notes, Secured, and Unsecured Indebtedness - Schedule of Maturities of Notes Payable, Senior Unsecured Facility, 5 3/4% and 8 1/2% Senior Notes (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Debt Instrument [Line Items]
Total debt	$995,727	$940,101
Senior Notes and Subordinated Amortizing Notes
Debt Instrument [Line Items]
2015	9,500
2016	12,090
2017	94,288
2018	0
2019	150,000
Thereafter	725,000
Total debt	$990,878

Senior_Notes_Secured_and_Unsec4

Senior Notes, Secured, and Unsecured Indebtedness - Schedule of Maturities of Construction Notes Payable (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
Debt Instrument [Line Items]
Total notes payable	$96,921,000		$39,235,000
Construction Loans
Debt Instrument [Line Items]
Total notes payable	118,600,000
Outstanding	38,400,000
Construction Loans | November 2014 Construction Notes Payable
Debt Instrument [Line Items]
Total notes payable	24,000,000
Outstanding	13,500,000
Current Rate	3.75%	[1]
Construction Loans | November 2014 Construction Notes Payable
Debt Instrument [Line Items]
Total notes payable	22,000,000
Outstanding	12,800,000
Current Rate	3.75%	[1]
Construction Loans | March 2014 Construction Notes Payable
Debt Instrument [Line Items]
Total notes payable	26,000,000
Outstanding	5,300,000
Current Rate	3.17%	[2]
Construction Loans | December 2013 Construction Notes Payable
Debt Instrument [Line Items]
Total notes payable	18,600,000
Outstanding	6,800,000
Current Rate	4.25%	[2]
Construction Loans | June 2013 Construction Notes Payable
Debt Instrument [Line Items]
Total notes payable	28,000,000
Outstanding	$0
Current Rate	4.00%	[3]
[1]	Loan bears interest at the prime rate +0.5%.
[2]	Loan bears interest at the Company's option of either LIBOR +3.0% or the prime rate +1.0%.
[3]	Loan bears interest at the prime rate +0.5%, with a rate floor of 4.0% .

Senior_Notes_Secured_and_Unsec5

Senior Notes, Secured, and Unsecured Indebtedness - Schedule of Maturities of Construction Notes Payable (Footnote) (Details)	3 Months Ended
	Mar. 31, 2015
March 2014 and December 2013 Construction Notes Payable | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	3.00%
March 2014 and December 2013 Construction Notes Payable | Prime rate
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
June 2013 Construction Notes Payable
Debt Instrument [Line Items]
Minimum stated interest rate	4.00%
June 2013 Construction Notes Payable | Prime rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
November 2014 Construction Notes Payable | Prime rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%

Senior_Notes_Secured_and_Unsec6

Senior Notes, Secured, and Unsecured Indebtedness - Narrative (Details) (8 1/2% Senior Notes due November 15, 2020, USD $)	Mar. 31, 2015
In Millions, unless otherwise specified
8 1/2% Senior Notes due November 15, 2020
Debt Instrument [Line Items]
Premium on 8 1/2% Senior Notes	$4.80

Senior_Notes_Secured_and_Unsec7

Senior Notes, Secured, and Unsecured Indebtedness - Notes Payable - Narrative (Details) (USD $)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Mar. 31, 2015	Dec. 31, 2014	Mar. 27, 2015	Aug. 07, 2013
		land_acquisition
Debt Instrument [Line Items]
Notes payable	$96,921,000	$96,921,000	$39,235,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				130,000,000	100,000,000
Additional capacity under accordion feature				200,000,000	125,000,000
Minimum borrowing capacity				50,000,000
Revolving Credit Facility | Revolving Credit Facility Agreement
Debt Instrument [Line Items]
Commitment fee percentage	0.50%
Outstanding letter of credit	4,000,000	4,000,000
Seller financing
Debt Instrument [Line Items]
Notes payable	9,500,000	9,500,000	547,000
Number of land acquisitions		1
Stated interest rate	5.00%	5.00%
Amended facility
Debt Instrument [Line Items]
Notes payable	$49,000,000	$49,000,000	$0
Effective rate	5.25%	5.25%

Senior_Notes_Secured_and_Unsec8

Senior Notes, Secured, and Unsecured Indebtedness - Subordinated Amortizing Notes - Narrative (Details) (USD $)	0 Months Ended
In Thousands, except Share data, unless otherwise specified	Nov. 21, 2014	Mar. 31, 2015	Dec. 31, 2014	Dec. 03, 2014
Debt Instrument [Line Items]
Total debt		$995,727	$940,101
Subordinated amortizing notes
Debt Instrument [Line Items]
Initial principal amount				18.01
Stated interest rate				5.50%
Quarterly installments amount per amortizing note (in USD per note)				1.625
Installment payment amount per amortizing note (in USD per note)				1.8056
Total debt		18,957	20,717
Senior unsecured loan facility
Debt Instrument [Line Items]
Total debt		$18,957	$20,717
Tangible Equity Units
Debt Instrument [Line Items]
Number of TEUs sold (in shares)	1,000,000			150,000
Stated rate	6.50%
Share price (in USD per share)	$100
Percent conversion premium	17.50%
Maximum | Common stock, Class A
Debt Instrument [Line Items]
Shares delivered on mandatory settlement date (in shares)	5.2247
Minimum | Common stock, Class A
Debt Instrument [Line Items]
Shares delivered on mandatory settlement date (in shares)	4.4465

Senior_Notes_Secured_and_Unsec9

Senior Notes, Secured, and Unsecured Indebtedness - Senior Notes - Narrative (Details) (USD $)	0 Months Ended		3 Months Ended	0 Months Ended
	Sep. 03, 2009	Mar. 31, 2014	Mar. 31, 2015	Oct. 24, 2013	Nov. 08, 2012	Aug. 11, 2014	Dec. 31, 2014
Debt Instrument [Line Items]
Total senior notes			$995,727,000				$940,101,000
Maturity date	30-Sep-16
5 3/4% Senior Notes due April 15, 2019
Debt Instrument [Line Items]
Stated interest rate			5.75%				5.75%
Total senior notes			150,000,000				150,000,000
8 1/2% Senior Notes due November 15, 2020
Debt Instrument [Line Items]
Stated interest rate			8.50%				8.50%
Total senior notes			429,849,000				430,149,000
Outstanding amount			425,000,000				425,000,000
7% Senior Notes due August 15, 2022
Debt Instrument [Line Items]
Stated interest rate			7.00%				7.00%
Total senior notes			300,000,000				300,000,000
Senior notes
Debt Instrument [Line Items]
Total senior notes			879,849,000				880,149,000
Senior notes | 5 3/4% Senior Notes due April 15, 2019
Debt Instrument [Line Items]
Stated interest rate		5.75%	5.75%
Principal amount			150,000,000
Percentage of principal amount		100.00%
Maturity date			15-Apr-19
Senior notes | 8 1/2% Senior Notes due November 15, 2020
Debt Instrument [Line Items]
Stated interest rate			8.50%		8.50%
Principal amount			425,000,000	100,000,000	325,000,000
Percentage of principal amount				106.50%	100.00%
Maturity date			15-Nov-20
Net proceeds from issuance of debt				104,700,000
Senior notes | 7% Senior Notes due August 15, 2022
Debt Instrument [Line Items]
Stated interest rate			7.00%			7.00%
Principal amount			$300,000,000			$300,000,000
Percentage of principal amount						100.00%

Recovered_Sheet1

Senior Notes, Secured, and Unsecured Indebtedness - Guarantor and Non-Guarantor Financial Statements - Narrative (Details) (Parent)	Mar. 31, 2015
Parent
Debt Instrument [Line Items]
Ownership percentage	100.00%

Recovered_Sheet2

Senior Notes, Secured, and Unsecured Indebtedness - Condensed Consolidating Balance Sheet (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS
Cash and cash equivalents	$29,450	$52,771	$151,029	$171,672
Restricted cash	504	504
Receivables	21,411	21,250
Escrow proceeds receivable	7,193	2,915
Real estate inventories	1,477,805	1,404,639
Deferred loan costs, net	15,773	15,988
Goodwill	60,887	60,887
Intangibles, net	7,454	7,657
Deferred income taxes, net	88,361	88,039
Other assets, net	19,595	19,777
Investments in subsidiaries	0	0
Intercompany receivables	0	0
Total assets	1,728,433	1,674,427
LIABILITIES AND EQUITY
Accounts payable	59,253	51,814
Accrued expenses	74,290	85,366
Notes payable	96,921	39,235
Total debt	995,727	940,101
Intercompany payables	0	0
Total liabilities	1,129,270	1,077,281
Equity
Total William Lyon Homes stockholders’ equity	576,422	569,915
Noncontrolling interests	22,741	27,231
Total liabilities and equity	1,728,433	1,674,427
Delaware Lyon
ASSETS
Cash and cash equivalents	0	0	0	0
Restricted cash	0	0
Receivables	0	0
Escrow proceeds receivable	0	0
Real estate inventories	0	0
Deferred loan costs, net	0	0
Goodwill	0	0
Intangibles, net	0	0
Deferred income taxes, net	0	0
Other assets, net	0	0
Investments in subsidiaries	576,422	569,915
Intercompany receivables	0	0
Total assets	576,422	569,915
LIABILITIES AND EQUITY
Accounts payable	0	0
Accrued expenses	0	0
Notes payable	0	0
Intercompany payables	0	0
Total liabilities	0	0
Equity
Total William Lyon Homes stockholders’ equity	576,422	569,915
Noncontrolling interests	0	0
Total liabilities and equity	576,422	569,915
California Lyon
ASSETS
Cash and cash equivalents	26,659	48,462	142,297	166,516
Restricted cash	504	504
Receivables	16,715	16,783
Escrow proceeds receivable	2,347	613
Real estate inventories	824,361	755,748
Deferred loan costs, net	15,773	15,988
Goodwill	14,209	14,209
Intangibles, net	754	957
Deferred income taxes, net	88,361	88,039
Other assets, net	17,097	17,243
Investments in subsidiaries	-37,809	-35,961
Intercompany receivables	0	0
Total assets	968,971	922,585
LIABILITIES AND EQUITY
Accounts payable	35,630	28,792
Accrued expenses	69,730	76,664
Notes payable	58,500	384
Intercompany payables	165,826	164,541
Total liabilities	1,228,492	1,171,247
Equity
Total William Lyon Homes stockholders’ equity	-259,521	-248,662
Noncontrolling interests	0	0
Total liabilities and equity	968,971	922,585
Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	380	573	170	28
Restricted cash	0	0
Receivables	815	878
Escrow proceeds receivable	4,846	2,302
Real estate inventories	566,354	554,170
Deferred loan costs, net	0	0
Goodwill	46,678	46,678
Intangibles, net	6,700	6,700
Deferred income taxes, net	0	0
Other assets, net	2,172	2,176
Investments in subsidiaries	-586,045	-574,129
Intercompany receivables	233,674	232,895
Total assets	275,574	272,243
LIABILITIES AND EQUITY
Accounts payable	21,221	19,023
Accrued expenses	4,455	8,610
Notes payable	0	162
Intercompany payables	0	0
Total liabilities	25,676	27,795
Equity
Total William Lyon Homes stockholders’ equity	249,898	244,448
Noncontrolling interests	0	0
Total liabilities and equity	275,574	272,243
Non-Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	2,411	3,736	8,562	5,128
Restricted cash	0	0
Receivables	3,881	3,589
Escrow proceeds receivable	0	0
Real estate inventories	87,090	94,721
Deferred loan costs, net	0	0
Goodwill	0	0
Intangibles, net	0	0
Deferred income taxes, net	0	0
Other assets, net	326	358
Investments in subsidiaries	0	0
Intercompany receivables	0	0
Total assets	93,708	102,404
LIABILITIES AND EQUITY
Accounts payable	2,402	3,999
Accrued expenses	105	92
Notes payable	38,421	38,689
Intercompany payables	67,848	68,354
Total liabilities	108,776	111,134
Equity
Total William Lyon Homes stockholders’ equity	-37,809	-35,961
Noncontrolling interests	22,741	27,231
Total liabilities and equity	93,708	102,404
Eliminations
ASSETS
Cash and cash equivalents	0	0	0	0
Restricted cash	0	0
Receivables	0	0
Escrow proceeds receivable	0	0
Real estate inventories	0	0
Deferred loan costs, net	0	0
Goodwill	0	0
Intangibles, net	0	0
Deferred income taxes, net	0	0
Other assets, net	0	0
Investments in subsidiaries	47,432	40,175
Intercompany receivables	-233,674	-232,895
Total assets	-186,242	-192,720
LIABILITIES AND EQUITY
Accounts payable	0	0
Accrued expenses	0	0
Notes payable	0	0
Intercompany payables	-233,674	-232,895
Total liabilities	-233,674	-232,895
Equity
Total William Lyon Homes stockholders’ equity	47,432	40,175
Noncontrolling interests	0	0
Total liabilities and equity	-186,242	-192,720
Subordinated amortizing notes
LIABILITIES AND EQUITY
Total debt	18,957	20,717
Subordinated amortizing notes | Delaware Lyon
LIABILITIES AND EQUITY
Total debt	0	0
Subordinated amortizing notes | California Lyon
LIABILITIES AND EQUITY
Total debt	18,957	20,717
Subordinated amortizing notes | Guarantor Subsidiaries
LIABILITIES AND EQUITY
Total debt	0	0
Subordinated amortizing notes | Non-Guarantor Subsidiaries
LIABILITIES AND EQUITY
Total debt	0	0
Subordinated amortizing notes | Eliminations
LIABILITIES AND EQUITY
Total debt	0
5 3/4% Senior Notes due April 15, 2019
LIABILITIES AND EQUITY
Total debt	150,000	150,000
5 3/4% Senior Notes due April 15, 2019 | Delaware Lyon
LIABILITIES AND EQUITY
Total debt	0	0
5 3/4% Senior Notes due April 15, 2019 | California Lyon
LIABILITIES AND EQUITY
Total debt	150,000	150,000
5 3/4% Senior Notes due April 15, 2019 | Guarantor Subsidiaries
LIABILITIES AND EQUITY
Total debt	0	0
5 3/4% Senior Notes due April 15, 2019 | Non-Guarantor Subsidiaries
LIABILITIES AND EQUITY
Total debt	0	0
5 3/4% Senior Notes due April 15, 2019 | Eliminations
LIABILITIES AND EQUITY
Total debt	0
8 1/2% Senior Notes due November 15, 2020
LIABILITIES AND EQUITY
Total debt	429,849	430,149
8 1/2% Senior Notes due November 15, 2020 | Delaware Lyon
LIABILITIES AND EQUITY
Total debt	0	0
8 1/2% Senior Notes due November 15, 2020 | California Lyon
LIABILITIES AND EQUITY
Total debt	429,849	430,149
8 1/2% Senior Notes due November 15, 2020 | Guarantor Subsidiaries
LIABILITIES AND EQUITY
Total debt	0	0
8 1/2% Senior Notes due November 15, 2020 | Non-Guarantor Subsidiaries
LIABILITIES AND EQUITY
Total debt	0	0
8 1/2% Senior Notes due November 15, 2020 | Eliminations
LIABILITIES AND EQUITY
Total debt	0	0
7% Senior Notes due August 15, 2022
LIABILITIES AND EQUITY
Total debt	300,000	300,000
7% Senior Notes due August 15, 2022 | Delaware Lyon
LIABILITIES AND EQUITY
Total debt	0	0
7% Senior Notes due August 15, 2022 | California Lyon
LIABILITIES AND EQUITY
Total debt	300,000	300,000
7% Senior Notes due August 15, 2022 | Guarantor Subsidiaries
LIABILITIES AND EQUITY
Total debt	0	0
7% Senior Notes due August 15, 2022 | Non-Guarantor Subsidiaries
LIABILITIES AND EQUITY
Total debt	0	0
7% Senior Notes due August 15, 2022 | Eliminations
LIABILITIES AND EQUITY
Total debt	$0

Recovered_Sheet3

Senior Notes, Secured, and Unsecured Indebtedness - Condensed Consolidating Statement of Operations (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Operating revenue
Home sales	$189,715	$140,299
Construction services	7,453	9,652
Management fees	0	0
Operating revenue	197,168	149,951
Operating costs
Cost of sales - homes	-154,081	-106,212
Construction services	-6,029	-8,068
Sales and marketing	-12,224	-6,558
General and administrative	-13,948	-12,136
Amortization of intangible assets	-203	-618
Other	-288	-562
Total operating costs	-186,773	-134,154
Income (loss) from subsidiaries	0	0
Operating income (loss)	10,395	15,797
Other income (expense), net	781	119
Income (loss) before provision for income taxes	11,176	15,916
Provision for income taxes	-3,570	-4,574
Net income (loss)	7,606	11,342
Less: Net income attributable to noncontrolling interests	-924	-2,645
Net income (loss) attributable to William Lyon Homes	6,682	8,697
Net income (loss) available to common stockholders	6,682	8,697
Delaware Lyon
Operating revenue
Home sales	0	0
Construction services	0	0
Management fees	0	0
Operating revenue	0	0
Operating costs
Cost of sales - homes	0	0
Construction services	0	0
Sales and marketing	0	0
General and administrative	0	0
Amortization of intangible assets	0	0
Other	0	0
Total operating costs	0	0
Income (loss) from subsidiaries	6,682	8,697
Operating income (loss)	6,682	8,697
Other income (expense), net	0	0
Income (loss) before provision for income taxes	6,682	8,697
Provision for income taxes	0	0
Net income (loss)	6,682	8,697
Less: Net income attributable to noncontrolling interests	0	0
Net income (loss) attributable to William Lyon Homes	6,682	8,697
Net income (loss) available to common stockholders	6,682	8,697
California Lyon
Operating revenue
Home sales	89,544	106,599
Construction services	7,453	9,652
Management fees	-511	455
Operating revenue	96,486	116,706
Operating costs
Cost of sales - homes	-68,876	-80,429
Construction services	-6,029	-8,068
Sales and marketing	-5,754	-4,689
General and administrative	-11,319	-11,278
Amortization of intangible assets	-203	-618
Other	-1,136	-970
Total operating costs	-93,317	-106,052
Income (loss) from subsidiaries	-6,744	3,015
Operating income (loss)	-3,575	13,669
Other income (expense), net	4,366	269
Income (loss) before provision for income taxes	791	13,938
Provision for income taxes	-3,570	-4,574
Net income (loss)	-2,779	9,364
Less: Net income attributable to noncontrolling interests	0	0
Net income (loss) attributable to William Lyon Homes	-2,779	9,364
Net income (loss) available to common stockholders	-2,779	9,364
Guarantor Subsidiaries
Operating revenue
Home sales	83,134	18,548
Construction services	0	0
Management fees	0	0
Operating revenue	83,134	18,548
Operating costs
Cost of sales - homes	-70,384	-15,057
Construction services	0	0
Sales and marketing	-5,524	-1,195
General and administrative	-2,629	-858
Amortization of intangible assets	0	0
Other	848	-1
Total operating costs	-77,689	-17,111
Income (loss) from subsidiaries	0	0
Operating income (loss)	5,445	1,437
Other income (expense), net	4,813	-3
Income (loss) before provision for income taxes	10,258	1,434
Provision for income taxes	0	0
Net income (loss)	10,258	1,434
Less: Net income attributable to noncontrolling interests	0	0
Net income (loss) attributable to William Lyon Homes	10,258	1,434
Net income (loss) available to common stockholders	10,258	1,434
Non-Guarantor Subsidiaries
Operating revenue
Home sales	17,037	15,152
Construction services	0	0
Management fees	0	0
Operating revenue	17,037	15,152
Operating costs
Cost of sales - homes	-14,310	-11,181
Construction services	0	0
Sales and marketing	-946	-674
General and administrative	0	0
Amortization of intangible assets	0	0
Other	0	409
Total operating costs	-15,256	-11,446
Income (loss) from subsidiaries	0	0
Operating income (loss)	1,781	3,706
Other income (expense), net	-8,398	-147
Income (loss) before provision for income taxes	-6,617	3,559
Provision for income taxes	0	0
Net income (loss)	-6,617	3,559
Less: Net income attributable to noncontrolling interests	-924	-2,645
Net income (loss) attributable to William Lyon Homes	-7,541	914
Net income (loss) available to common stockholders	-7,541	914
Eliminations
Operating revenue
Home sales	0	0
Construction services	0	0
Management fees	511	-455
Operating revenue	511	-455
Operating costs
Cost of sales - homes	-511	455
Construction services	0	0
Sales and marketing	0	0
General and administrative	0	0
Amortization of intangible assets	0	0
Other	0	0
Total operating costs	-511	455
Income (loss) from subsidiaries	62	-11,712
Operating income (loss)	62	-11,712
Other income (expense), net		0
Income (loss) before provision for income taxes	62	-11,712
Provision for income taxes		0
Net income (loss)	62	-11,712
Less: Net income attributable to noncontrolling interests		0
Net income (loss) attributable to William Lyon Homes	62	-11,712
Net income (loss) available to common stockholders	$62	($11,712)

Recovered_Sheet4

Senior Notes, Secured, and Unsecured Indebtedness - Condensed Consolidating Statement of Cash Flows (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Operating activities
Net cash provided by (used in) operating activities	($61,172)	($169,736)
Investing activities
Investments in and advances to unconsolidated joint ventures	-1,000	0
Distributions from unconsolidated joint ventures	76	0
Purchases of property and equipment	-150	-1,273
Investments in subsidiaries	0	0
Net cash (used in) provided by investing activities	-1,074	-1,273
Financing activities
Proceeds from borrowings on notes payable	6,148	20,112
Principal payments on notes payable	-6,962	-19,464
Proceeds from borrowings on Revolver	89,000	0
Payments on Revolver	-40,000	0
Principal payments on subordinated amortizing notes	-1,760	0
Payment of deferred loan costs	-561	-2,549
Proceeds from stock options exercised	106	0
Shares remitted to, or withheld by the Company for employee tax withholding	-1,632	0
Proceeds from issuance of common stock	0	288
Noncontrolling interest contributions	0	8,392
Noncontrolling interest distributions	-5,414	-6,413
Advances to affiliates	0	0
Intercompany receivables/payables	0	0
Net cash (used in) provided by financing activities	38,925	150,366
Net (decrease) increase in cash and cash equivalents	-23,321	-20,643
Cash and cash equivalents — beginning of period	52,771	171,672
Cash and cash equivalents — end of period	29,450	151,029
Delaware Lyon
Operating activities
Net cash provided by (used in) operating activities	175	261
Investing activities
Investments in and advances to unconsolidated joint ventures	0
Distributions from unconsolidated joint ventures	0
Purchases of property and equipment	0	0
Investments in subsidiaries	0	0
Net cash (used in) provided by investing activities	0	0
Financing activities
Proceeds from borrowings on notes payable	0	0
Principal payments on notes payable	0	0
Proceeds from borrowings on Revolver	0
Payments on Revolver	0
Principal payments on subordinated amortizing notes	0
Payment of deferred loan costs	0	0
Proceeds from stock options exercised	0
Shares remitted to, or withheld by the Company for employee tax withholding	0
Proceeds from issuance of common stock		0
Noncontrolling interest contributions		0
Noncontrolling interest distributions	0	0
Advances to affiliates	0	0
Intercompany receivables/payables	-175	-261
Net cash (used in) provided by financing activities	-175	-261
Net (decrease) increase in cash and cash equivalents	0	0
Cash and cash equivalents — beginning of period	0	0
Cash and cash equivalents — end of period	0	0
California Lyon
Operating activities
Net cash provided by (used in) operating activities	-53,883	-155,347
Investing activities
Investments in and advances to unconsolidated joint ventures	-1,000
Distributions from unconsolidated joint ventures	0
Purchases of property and equipment	-173	-1,264
Investments in subsidiaries	-4,896	46,095
Net cash (used in) provided by investing activities	-6,069	44,831
Financing activities
Proceeds from borrowings on notes payable	0	-326
Principal payments on notes payable	-384	-6,857
Proceeds from borrowings on Revolver	89,000
Payments on Revolver	-40,000
Principal payments on subordinated amortizing notes	-1,760
Payment of deferred loan costs	-561	-2,549
Proceeds from stock options exercised	106
Shares remitted to, or withheld by the Company for employee tax withholding	-1,632
Proceeds from issuance of common stock		288
Noncontrolling interest contributions		0
Noncontrolling interest distributions	0	0
Advances to affiliates	0	0
Intercompany receivables/payables	-6,620	-54,259
Net cash (used in) provided by financing activities	38,149	86,297
Net (decrease) increase in cash and cash equivalents	-21,803	-24,219
Cash and cash equivalents — beginning of period	48,462	166,516
Cash and cash equivalents — end of period	26,659	142,297
Guarantor Subsidiaries
Operating activities
Net cash provided by (used in) operating activities	-6,451	2,037
Investing activities
Investments in and advances to unconsolidated joint ventures	0
Distributions from unconsolidated joint ventures	76
Purchases of property and equipment	15	-19
Investments in subsidiaries	11,916	0
Net cash (used in) provided by investing activities	12,007	-19
Financing activities
Proceeds from borrowings on notes payable	0	326
Principal payments on notes payable	-162	0
Proceeds from borrowings on Revolver	0
Payments on Revolver	0
Principal payments on subordinated amortizing notes	0
Payment of deferred loan costs	0	0
Proceeds from stock options exercised	0
Shares remitted to, or withheld by the Company for employee tax withholding	0
Proceeds from issuance of common stock		0
Noncontrolling interest contributions		0
Noncontrolling interest distributions	0	0
Advances to affiliates	-4,808	6
Intercompany receivables/payables	-779	-2,208
Net cash (used in) provided by financing activities	-5,749	-1,876
Net (decrease) increase in cash and cash equivalents	-193	142
Cash and cash equivalents — beginning of period	573	28
Cash and cash equivalents — end of period	380	170
Non-Guarantor Subsidiaries
Operating activities
Net cash provided by (used in) operating activities	-838	-16,426
Investing activities
Investments in and advances to unconsolidated joint ventures	0
Distributions from unconsolidated joint ventures	0
Purchases of property and equipment	8	10
Investments in subsidiaries	0	0
Net cash (used in) provided by investing activities	8	10
Financing activities
Proceeds from borrowings on notes payable	6,148	20,112
Principal payments on notes payable	-6,416	-12,607
Proceeds from borrowings on Revolver	0
Principal payments on subordinated amortizing notes	0
Payment of deferred loan costs	0	0
Proceeds from stock options exercised	0
Shares remitted to, or withheld by the Company for employee tax withholding	0
Proceeds from issuance of common stock		0
Noncontrolling interest contributions		8,392
Noncontrolling interest distributions	-5,414	-6,413
Advances to affiliates	5,693	-43,994
Intercompany receivables/payables	-506	54,360
Net cash (used in) provided by financing activities	-495	19,850
Net (decrease) increase in cash and cash equivalents	-1,325	3,434
Cash and cash equivalents — beginning of period	3,736	5,128
Cash and cash equivalents — end of period	2,411	8,562
Eliminations
Operating activities
Net cash provided by (used in) operating activities	-175	-261
Investing activities
Investments in and advances to unconsolidated joint ventures	0
Distributions from unconsolidated joint ventures	0
Purchases of property and equipment	0	0
Investments in subsidiaries	-7,020	-46,095
Net cash (used in) provided by investing activities	-7,020	-46,095
Financing activities
Proceeds from borrowings on notes payable	0	0
Principal payments on notes payable	0	0
Proceeds from borrowings on Revolver	0
Payments on Revolver	0
Principal payments on subordinated amortizing notes	0
Payment of deferred loan costs	0	0
Proceeds from stock options exercised	0
Shares remitted to, or withheld by the Company for employee tax withholding	0
Proceeds from issuance of common stock		0
Noncontrolling interest contributions		0
Noncontrolling interest distributions	0	0
Advances to affiliates	-885	43,988
Intercompany receivables/payables	8,080	2,368
Net cash (used in) provided by financing activities	7,195	46,356
Net (decrease) increase in cash and cash equivalents	0	0
Cash and cash equivalents — beginning of period	0	0
Cash and cash equivalents — end of period	0	0
5 3/4% Senior Notes due April 15, 2019
Financing activities
Proceeds from issuance of 5 3/4% senior notes	0	150,000
5 3/4% Senior Notes due April 15, 2019 | Delaware Lyon
Financing activities
Proceeds from issuance of 5 3/4% senior notes	0	0
5 3/4% Senior Notes due April 15, 2019 | California Lyon
Financing activities
Proceeds from issuance of 5 3/4% senior notes	0	150,000
5 3/4% Senior Notes due April 15, 2019 | Guarantor Subsidiaries
Financing activities
Proceeds from issuance of 5 3/4% senior notes	0	0
5 3/4% Senior Notes due April 15, 2019 | Non-Guarantor Subsidiaries
Financing activities
Proceeds from issuance of 5 3/4% senior notes	0	0
5 3/4% Senior Notes due April 15, 2019 | Eliminations
Financing activities
Proceeds from issuance of 5 3/4% senior notes	$0	$0

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments - Schedule of Estimated Fair Values of Financial Instruments (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Financial liabilities:
Notes payable	$96,921	$39,235
Notes payable, fair value	96,921	39,235
Total senior notes	995,727	940,101
Senior unsecured loan facility
Financial liabilities:
Total senior notes	18,957	20,717
Long-term Debt, Fair Value	23,340	20,717
5 3/4% Senior Notes due April 15, 2019
Financial liabilities:
Total senior notes	150,000	150,000
Long-term Debt, Fair Value	151,500	149,250
Stated interest rate	5.75%	5.75%
8 1/2% Senior Notes due November 15, 2020
Financial liabilities:
Total senior notes	429,849	430,149
Long-term Debt, Fair Value	459,000	462,410
Stated interest rate	8.50%	8.50%
7% Senior Notes due August 15, 2022
Financial liabilities:
Total senior notes	300,000	300,000
Long-term Debt, Fair Value	$308,250	$300,750
Stated interest rate	7.00%	7.00%

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments - Schedule of Reconciliation of the Beginning and Ending Balance for Level 3 Fair Value Measurements (Details) (Level 3, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Level 3
Fair Value Measurements Of Financial Instruments [Line Items]
Fair value at December 31, 2014	$39,235
Repayments of principal	-46,962	[1]
Borrowings of principal	104,648	[2]
Increase in value during the period	0
Fair value at March 31, 2015	$96,921
[1]	Represents the actual amount of principal repaid
[2]	Represents the actual amount of principal borrowed

Related_Party_Transactions_Nar

Related Party Transactions - Narrative (Details) (USD $)	0 Months Ended
In Millions, unless otherwise specified	Sep. 03, 2009	Mar. 31, 2015	Dec. 31, 2014
Related Party Transactions [Abstract]
Aggregate purchase price of aircraft	$8.30
Cash paid on sale of aircraft	2.1
Promissory note from the affiliate	6.2
Adjusted fair value	5.2
Semiannual interest payments received	0.1
Maturity date	30-Sep-16
Amortized balance		$5.90	$5.80

Income_Taxes_Narrative_Details

Income Taxes - Narrative (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Income Taxes [Line Items]
Effective income tax rate	31.90%	28.70%
Valuation allowance	$1,567,000		$1,626,000
Testing Period	5 years
AMT credit carryovers	1,400,000
Unrecognized tax benefits	0
Federal
Income Taxes [Line Items]
Operating loss carry forwards	3,600,000
Unused built-in losses	64,200,000
State
Income Taxes [Line Items]
Operating loss carry forwards	79,500,000
Unused built-in losses	$10,300,000

Income_Per_Common_Share_Basic_

Income Per Common Share - Basic and Diluted Income (Loss) Per Common Share (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Basic weighted average number of common shares outstanding (in shares)	36,463,995	31,106,310
Effect of dilutive securities:
Stock options, unvested common shares, and warrants (in shares)	1,169,836	1,498,310
Diluted average shares outstanding (in shares)	37,633,831	32,604,620
Net income available to common stockholders	$6,682	$8,697
Basic income per common share (in USD per share)	$0.18	$0.28
Dilutive income per common share (in USD per share)	$0.18	$0.27

Stock_Based_Compensation_Narra

Stock Based Compensation - Narrative (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$1,351,000	$1,011,000
Performance Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of stock (in shares)	282,216
Compensation expense recognized	$0
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of stock (in shares)	197,614
Restricted stock | Other Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of stock (in shares)	177,397
Restricted stock | Non Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of stock (in shares)	20,217
Stock awards, vesting percentage	25.00%
Vest on March 1st of each of 2016, 2017 and 2018 | Restricted stock | Other Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of stock (in shares)	141,102
Stock awards, vesting percentage	33.33%
Vest on March 1st of each of 2016 and 2017 | Restricted stock | Other Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of stock (in shares)	36,295
Stock awards, vesting percentage	50.00%

Commitments_and_Contingencies_1

Commitments and Contingencies - Narrative (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Loss Contingencies [Line Items]
Rent expense under cancelable and non-cancelable operating leases	$1	$0.60
Deposits as collateral for outstanding surety bonds	0.5		0.5
Outstanding performance and surety bonds	107.8
Non-refundable deposits	56.3
Remaining purchase price of land	448
Project construction commitment
Loss Contingencies [Line Items]
Other Commitment	$120.60

Commitments_and_Contingencies_2

Commitments and Contingencies - Schedule of Future Minimum Payments Under Non-Cancelable Operating Leases (Details) (USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Commitments and Contingencies Disclosure [Abstract]
2015	$1,800
2016	1,875
2017	1,647
2018	1,621
2019	1,237
Thereafter	2,124
Total	$10,304