UCP (UCP) 10-Q 31 Oct 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 27, 2016
Entity Registrant Name	UCP, Inc.
Entity Central Index Key	1,572,684
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Class A
Entity Common Stock, Shares Outstanding		7,911,195
Class B
Entity Common Stock, Shares Outstanding		100

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets:
Cash and cash equivalents	$ 27,586	$ 39,829
Restricted cash	900	900
Real estate inventories	381,703	360,989
Fixed assets, net	966	1,314
Intangible assets, net	122	236
Goodwill	0	4,223
Receivables	4,512	1,317
Other assets	6,403	5,889
Total assets	422,192	414,697
Liabilities and equity:
Accounts payable	21,714	14,882
Accrued liabilities	22,719	24,616
Customer deposits	2,502	1,825
Notes payable, net	83,663	82,486
Senior notes, net	74,122	73,480
Total liabilities	204,720	197,289
Commitments and contingencies (Note 11)
Stockholders’ Equity
Preferred stock, par value $0.01 per share, 50,000,000 authorized, no shares issued and outstanding as of September 30, 2016; no shares issued and outstanding as of December 31, 2015	0	0
Additional paid-in capital	96,892	94,683
Treasury stock at cost; 123,636 shares as of September 30, 2016; none as of December 31, 2015	(1,000)	0
Accumulated deficit	(2,476)	(4,563)
Total UCP, Inc. stockholders’ equity	93,496	90,200
Noncontrolling interest	123,976	127,208
Total equity	217,472	217,408
Total liabilities and equity	422,192	414,697
Class A
Stockholders’ Equity
Common stock	80	80
Class B
Stockholders’ Equity
Common stock	$ 0	$ 0

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Treasury stock (shares)	123,636	0
Class A
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	8,034,831	8,014,434
Common stock, shares outstanding	7,911,195	8,014,434
Class B
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000	1,000,000
Common stock, shares issued	100	100
Common stock, shares outstanding	100	100

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income Or Loss - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
REVENUE:
Homebuilding	$ 89,840,000	$ 70,284,000	$ 239,480,000	$ 163,705,000
Land development	3,900,000	1,116,000	5,322,000	3,156,000
Other revenue	0	2,272,000	0	5,060,000
Total revenue	93,740,000	73,672,000	244,802,000	171,921,000
COSTS AND EXPENSES:
Cost of sales - homebuilding	72,984,000	57,006,000	195,561,000	134,744,000
Cost of sales - land development	3,834,000	716,000	4,519,000	2,264,000
Cost of sales - other revenue	0	1,958,000	0	4,363,000
Impairment on real estate	192,000	0	2,589,000	0
Total cost of sales	77,010,000	59,680,000	202,669,000	141,371,000
Gross margin - homebuilding	16,856,000	13,278,000	43,919,000	28,961,000
Gross margin - land development	66,000	400,000	803,000	892,000
Gross margin - other revenue	0	314,000	0	697,000
Gross margin - impairment on real estate	(192,000)	0	(2,589,000)	0
Total gross margin	16,730,000	13,992,000	42,133,000	30,550,000
Sales and marketing	4,853,000	4,692,000	13,595,000	13,246,000
General and administrative	4,592,000	5,539,000	19,101,000	19,311,000
Goodwill impairment	4,223,000	0	4,223,000	0
Total costs and expenses	90,678,000	69,911,000	239,588,000	173,928,000
Income (loss) from operations	3,062,000	3,761,000	5,214,000	(2,007,000)
Other income, net	204,000	45,000	253,000	177,000
Net income (loss) before income taxes	3,266,000	3,806,000	5,467,000	(1,830,000)
Provision for income taxes	(124,000)	0	(271,000)	0
Net income (loss)	3,142,000	3,806,000	5,196,000	(1,830,000)
Net income (loss) attributable to noncontrolling interest	1,857,000	2,167,000	3,109,000	(961,000)
Net income (loss) attributable to UCP, Inc.	1,285,000	1,639,000	2,087,000	(869,000)
Other comprehensive loss, net of tax	0	0	0	0
Comprehensive income (loss)	3,142,000	3,806,000	5,196,000	(1,830,000)
Comprehensive income (loss) attributable to noncontrolling interest	1,857,000	2,167,000	3,109,000	(961,000)
Comprehensive income (loss) attributable to UCP, Inc.	$ 1,285,000	$ 1,639,000	$ 2,087,000	$ (869,000)
Earnings (loss) per share of Class A common stock - basic ($ per share)	$ 0.16	$ 0.21	$ 0.26	$ (0.11)
Earnings (loss) per share of Class A common stock - diluted ($ per share)	$ 0.16	$ 0.20	$ 0.26	$ (0.11)
Weighted average shares of Class A common stock:
Basic (in shares)	7,948,268	7,995,934	7,993,371	7,950,700
Diluted (in shares)	7,986,416	8,017,768	8,043,830	7,950,700

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Class A	Class B	Common stockClass A	Common stockClass B	Additional paid-in capital	Treasury stock	Accumulated deficit	Noncontrolling interest
Beginning balance at Dec. 31, 2014	$ 211,267			$ 79	$ 0	$ 94,110	$ 0	$ (6,934)
Beginning balance (shares) at Dec. 31, 2014				7,922,216	100
Beginning balance of noncontrolling interest as of December 31, 2015 at Dec. 31, 2014									$ 124,012
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Class A - Issuance of common stock for RSUs, net of withholding taxes paid for vested RSUs (shares)				92,218
Class A - Issuance of common stock for RSUs, net of withholding taxes paid for vested RSUs	(370)			$ 1		(160)			(211)
Stock-based compensation expense	1,572					674			898
Distribution to noncontrolling interest	(981)								(981)
Net income/loss	(1,830)							(869)	(961)
Ending balance (shares) at Sep. 30, 2015				8,014,434	100
Ending balance of noncontrolling interest as of September 30, 2016 at Sep. 30, 2015									122,757
Ending balance at Sep. 30, 2015	209,658			$ 80	$ 0	94,624	0	(7,803)
Beginning balance at Dec. 31, 2014	211,267			$ 79	$ 0	94,110	0	(6,934)
Beginning balance (shares) at Dec. 31, 2014				7,922,216	100
Beginning balance of noncontrolling interest as of December 31, 2015 at Dec. 31, 2014									124,012
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock (shares)				0
Ending balance (shares) at Dec. 31, 2015		8,014,434	100	8,014,434	100
Ending balance of noncontrolling interest as of September 30, 2016 at Dec. 31, 2015	127,208								127,208
Ending balance at Dec. 31, 2015	217,408			$ 80	$ 0	94,683	0	(4,563)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Class A - Issuance of common stock for RSUs, net of withholding taxes paid for vested RSUs (shares)				20,397
Class A - Issuance of common stock for RSUs, net of withholding taxes paid for vested RSUs	(45)					(20)			(25)
Repurchase of common stock	(1,000)						(1,000)
Re-allocation from stock issuances	0					1,909			(1,909)
Stock-based compensation expense	743					320			423
Distribution to noncontrolling interest	(4,830)								(4,830)
Net income/loss	5,196							2,087	3,109
Ending balance (shares) at Sep. 30, 2016		7,911,195	100	7,911,195	100
Ending balance of noncontrolling interest as of September 30, 2016 at Sep. 30, 2016	123,976								$ 123,976
Ending balance at Sep. 30, 2016	$ 217,472			$ 80	$ 0	$ 96,892	$ (1,000)	$ (2,476)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating activities:
Net income (loss)	$ 5,196,000	$ (1,830,000)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Stock-based compensation	743,000	1,572,000
Abandonment charges	505,000	146,000
Impairment on real estate	2,589,000	0
Depreciation and amortization	492,000	463,000
Goodwill impairment	4,223,000	0
Fair value adjustment of contingent consideration	(2,400,000)	(818,000)
Changes in operating assets and liabilities:
Real estate inventories	(23,067,000)	(60,715,000)
Receivables	(3,195,000)	307,000
Other assets	(411,000)	(2,389,000)
Accounts payable	6,832,000	14,732,000
Accrued liabilities	302,000	(4,360,000)
Customer deposits	677,000	1,125,000
Income taxes payable	202,000	0
Net cash used in operating activities	(7,312,000)	(51,767,000)
Investing activities:
Purchases of fixed assets	(117,000)	(311,000)
Net cash used in investing activities	(117,000)	(311,000)
Financing activities:
Distribution to noncontrolling interest	(4,830,000)	(981,000)
Proceeds from notes payable	106,663,000	112,595,000
Repayment of notes payable	(105,488,000)	(77,895,000)
Debt issuance costs	(114,000)	(698,000)
Repurchase of common stock	(1,000,000)	0
Withholding taxes paid for vested RSUs	(45,000)	(370,000)
Net cash (used by) provided by financing activities	(4,814,000)	32,651,000
Net decrease in cash and cash equivalents	(12,243,000)	(19,427,000)
Cash and cash equivalents – beginning of period	39,829,000	42,033,000
Cash and cash equivalents – end of period	27,586,000	22,606,000
Supplemental disclosure of noncash information
Exercise of land purchase options acquired with acquisition of business	74,000	160,000
Issuance of Class A common stock for vested restricted stock units	189,000	680,000
Income taxes paid	$ 69,000	$ 0

Organization, Basis of Presenta

Organization, Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Basis of Presentation and Summary of Significant Accounting Policies	ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES As used in this report, unless the context otherwise requires or indicates, references to “the Company,” “we,” “our” and “UCP” refer to UCP, Inc. and its consolidated subsidiaries, including UCP, LLC. Business Description and Organizational Structure of the Company: The Company is a homebuilder and land developer with expertise in residential land acquisition, development and entitlement, as well as home design, construction and sales. We operate in the states of California, Washington, North Carolina, South Carolina and Tennessee. The Company’s operations began in 2004 and principally focused on acquiring land, and entitling and developing it for residential construction. In 2010, the Company formed Benchmark Communities, LLC, its wholly-owned homebuilding subsidiary, to design, construct and sell high quality single-family homes. In 2014, the Company completed the acquisition of the assets and liabilities of Citizens Homes, Inc. (“Citizens Acquisition”) to expand its operations for the purchase of real estate and the construction and marketing of residential homes in the Southeast. The Company is a holding company, whose principal asset is its interest in UCP, LLC, the subsidiary through which it directly and indirectly conducts its business. As of September 30, 2016 , the Company held a 43.1% economic interest in UCP, LLC and PICO Holdings, Inc. (“PICO”), a NASDAQ-listed, diversified holding company, held the remaining 56.9% economic interest in UCP, LLC. Basis of Presentation: The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. These financial statements should be read in conjunction with the Company's audited financial statements for the year ended December 31, 2015 , which are included in the Company’s Annual Report on Form 10-K that was filed with the Securities and Exchange Commission on March 14, 2016 . The accompanying unaudited condensed consolidated financial statements include all adjustments (consisting of normal recurring adjustments) necessary for the fair presentation of the Company’s results for the interim periods presented. These consolidated and segment results are not necessarily indicative of the Company’s future performance. As an “emerging growth company,” as defined in the Jumpstart Our Business Startups Act of 2012, the Company has taken advantage of certain temporary exemptions from various reporting requirements, including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act and reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements. The Company could be an emerging growth company until the last day of the fiscal year following the fifth anniversary of the July 23, 2013 completion of its initial public offering, although a variety of circumstances can cause it to lose this status earlier. Use of Estimates in Preparation of Financial Statements: The preparation of condensed consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses for each reporting period. The significant estimates made in the preparation of the Company’s accompanying unaudited condensed consolidated financial statements relate to the assessment of real estate impairments, valuation of assets and liabilities acquired, warranty reserves, income taxes and contingent liabilities. While management believes that the carrying value of such assets and liabilities are appropriate as of September 30, 2016 and December 31, 2015 , it is reasonably possible that actual results could differ from the estimates upon which the carrying values were based. Related Party Transactions: As of September 30, 2016 , PICO holds an economic and voting interest in our Company equal to approximately 56.9% . The Company is party to certain agreements with PICO, including an Exchange Agreement (pursuant to which PICO has the right to cause the Company to exchange PICO’s interests in UCP, LLC for shares of the Company’s Class A common stock on a one-for-one basis, subject to equitable adjustments for stock splits, stock dividends, reclassifications and repurchases by UCP of Class A common stock), an Investor Rights Agreement (pursuant to which PICO has certain rights, including the right to select two individuals for nomination for election to the Company’s board of directors for as long as PICO owns at least a 25% voting interest in the Company), a Tax Receivable Agreement (pursuant to which PICO is entitled to 85% of any cash savings in U.S. federal, state and local income tax that the Company actually realizes as a result of any increase in tax basis caused by PICO’s exchange of UCP, LLC interests for shares of the Company’s Class A common stock) and a Registration Rights Agreement, with respect to the shares of Class A common stock that PICO may receive in exchanges made pursuant to the Exchange Agreement. Segment Reporting: The Company has two operating segments, West and Southeast, and two reportable segments, Homebuilding and Land development. Each reportable segment includes real estate with similar economic characteristics, including similar historical and expected long-term gross margin percentages, product types, geography, production processes and methods of distribution. Cash and Cash Equivalents and Restricted Cash: Cash and cash equivalents include highly liquid instruments purchased with original maturities of three months or less. Cash items that are restricted as to withdrawal or usage include deposits of $0.9 million as of September 30, 2016 and December 31, 2015 , related to a construction loan, credit card agreements and a contractor’s license. Capitalization of Interest: The Company capitalizes interest to real estate inventories during the period that real estate is undergoing development. Interest capitalized as a cost of real estate inventories is included in cost of sales-homebuilding or cost of sales-land development as related homes or real estate are delivered. Advertising Expenses: The Company expenses advertising costs as incurred. Advertising expenses for the three months ended September 30, 2016 and 2015 were $0.5 million and $0.6 million , respectively, and for the nine months ended September 30, 2016 and 2015 were $1.5 million and $2.0 million , respectively. Real Estate Inventories and Cost of Sales: The Company capitalizes pre-acquisition costs, the purchase price of real estate, development costs and other allocated costs, including interest, during development and home construction. Pre-acquisition costs, including non-refundable land deposits, are expensed to cost of sales when the Company determines continuation of the related project is not probable. Applicable costs incurred after development or construction is substantially complete are charged to sales and marketing or general and administrative, as appropriate. Land, development and other common costs are typically allocated to real estate inventories based on the number of homes to be constructed. Direct home construction costs are recorded using the specific identification method. Cost of sales-homebuilding includes the construction costs of each home and all applicable land acquisition, real estate development, capitalized interest and related allocated common costs. Changes to estimated total development costs subsequent to initial home closings in a community are allocated to remaining homes in the community. Cost of sales-land development includes land acquisition and development costs, capitalized interest, impairment charges, abandonment charges for projects that are no longer economically viable, and real estate taxes. Real estate inventories are stated at cost, unless the carrying amount is determined not to be recoverable, in which case real estate inventories are written down to fair value. All real estate inventories are classified as held until the Company commits to a plan to sell the real estate, the real estate can be sold in its present condition, the real estate is being actively marketed for sale and it is probable that the real estate will be sold within twelve months. Homes completed or under construction are included in real estate inventories in the accompanying unaudited condensed consolidated balance sheets at the lower of cost or net realizable value. Impairment and Abandonment of Real Estate Inventories: The Company evaluates real estate inventories for impairment when conditions exist suggesting that the carrying amount of real estate inventories is not fully recoverable and may exceed its fair value. Indicators of impairment include, but are not limited to, significant decreases in local housing market values, decreases in the selling prices of comparable homes, significant decreases in gross margins and sales absorption rates, costs in excess of budget, and actual or projected cash flow losses. The Company prepares and analyzes cash flows at the lowest level for which there are identifiable cash flows that are independent of the cash flows of other groups of assets. When estimating future cash flows of its real estate assets, the Company makes various assumptions, including: (i) expected sales prices and sales incentives (based on, among other things, an estimate of the number of homes available in the market, pricing and incentives, and potential sales price adjustments based on market and economic trends); (ii) expected sales pace and cancellation rates (based on local housing market conditions, competition and historical trends); (iii) costs incurred to date and expected to be incurred (including, but not limited to, land and land development costs, home construction costs, indirect construction costs, and selling and marketing costs); (iv) alternative product offerings that may be offered that could have an impact on sales pace, sales price and/or building costs; and (v) alternative uses for the property. If events or circumstances indicate that the carrying amount of real estate inventories may be impaired, such impairment will be measured based upon the difference between the carrying amount and the fair value of such asset(s) determined using the estimated future discounted cash flows, excluding interest charges, generated from the use and ultimate disposition of such asset(s). Such losses, if any, are reported within cost of sales for the period. We estimate the fair value of each impaired community by determining the present value of the estimated future cash flows at a discount rate commensurate with the risk of the respective community. In determining the fair value of land held for sale, management considers, among other things, prices for land in recent comparable sale transactions, market analysis studies, which include the estimated price a willing buyer would pay for the land, and recent bona fide offers received from third parties. During the three and nine months ended September 30, 2016 , approximately $0.2 million and $2.6 million , respectively, of impairment losses were recorded. For the three months ended September 30, 2016 , the impairment loss was recorded with respect to the Company’s real estate inventories at its Heathers at Westport community, located in Charlotte, North Carolina (“Heathers at Westport”). As of September 30, 2016 , the four remaining completed homes at the Heathers at Westport project had a carrying value that exceeded their estimated undiscounted cash flow. As a result, the carrying values of those remaining homes were adjusted to their estimated fair values, resulting in an impairment loss of approximately $0.2 million . For the nine months ended September 30, 2016 , an additional $2.4 million of real estate impairment loss was recorded during the second quarter of 2016 with respect to the Company’s real estate inventories at its Sundance community, located in Bakersfield, California (“Sundance”). The 65 lots at our Sundance project resulted in an impairment loss of $2.1 million during the second quarter of 2016, as the carrying value of these lots was written down to the contractual sales price less costs to sell. In addition, as of June 30, 2016 , homes under construction and completed homes at the Sundance project had a carrying value that exceeded their estimated undiscounted cash flows. As a result, the carrying values of those remaining homes not currently under contract were adjusted to their estimated fair values resulting in an impairment loss of approximately $0.3 million during the second quarter of 2016. See Note 8 , “Fair Value Disclosures--Non-Financial Instruments Carried at Fair Value--Non-Recurring Estimated Fair Value of Real Estate Inventories” for a further discussion of the impairment of the real estate asset. No such real estate impairment losses were recorded for the three and nine months ended September 30, 2015 . Abandonment charges during the three months ended September 30, 2016 and 2015 were $31,000 and $144,000 , respectively, and were $505,000 and $146,000 during the nine months ended September 30, 2016 and 2015 , respectively. Abandonment charges are included in cost of sales in the accompanying unaudited condensed consolidated statements of operations and comprehensive income or loss for the period in which they were recorded. These charges were related to the Company electing not to proceed with one or more land acquisitions after the incurrence of costs during due diligence. Goodwill and Other Intangible Assets: The purchase price of an acquired business is allocated between the net tangible assets and intangible assets of the acquired business, with any residual purchase price recorded as goodwill. The determination of the value of the assets acquired and liabilities assumed involves certain judgments and estimates. These judgments can include, but are not limited to, the cash flows that an asset is expected to generate in the future and the appropriate weighted average cost of capital. Intangible assets with determinable useful lives are amortized on a straight-line basis over the estimated remaining useful lives (ranging from six months to five years), added to the value of land when an intangible option is used to purchase the land, or expensed in the period when the option is cancelled. Acquired intangible assets with contractual terms are generally amortized over their respective contractual lives. When certain events or changes in operating conditions occur, an impairment assessment is performed for the intangible assets. Goodwill is not amortized, but is evaluated annually for impairment or more frequently if events or circumstances indicate that goodwill may be impaired. Impairment of Goodwill: All goodwill has been attributed to the Southeast homebuilding reporting segment as part of the Citizens Acquisition, which was completed in 2014. In accordance with Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification (“ASC”) Topic 350 - Goodwill , the Company evaluates goodwill for impairment annually or when conditions exist suggesting that the carrying amount of goodwill will more likely than not exceed its fair value. Indicators of impairment include, but are not limited to, significant decreases in economic conditions and market valuations, limitations on access to capital, and actual or projected cash flow losses or increases in cost factors that have a negative effect on earnings and cash flows. The Company prepares and analyzes cash flows at the project level for which there are identifiable cash flows. If events or circumstances indicate that the carrying amount of goodwill may be impaired, such impairment will be measured based upon the difference between the carrying amount and the fair value and determined using the estimated future discounted cash flows, excluding interest charges. Such losses, if any, are reported as an expense in the accompanying unaudited condensed consolidated statements of operations and comprehensive income or loss for the period. We estimate the fair value of goodwill by applying the income approach and determining the present value of the estimated future cash flows at a discount rate. When estimating future cash flows, the Company makes various assumptions, including, but not limited to: (i) forecasted adjusted pre-tax net income over a ten -year period; (ii) weighted average cost of capital; (iii) terminal growth; and (iv) revenue growth and operating profit margin. Based on the above factors, the Company determined that the carrying value of goodwill exceeded its fair value. As a result, the Company recorded goodwill impairment of $4.2 million during the three months ended September 30, 2016 related to its Southeast operating segment. For the year ended December 31, 2015 , there was no impairment of goodwill. See Note 5 , “Intangible Assets--Goodwill” for a further discussion of the impairment of goodwill. Fixed Assets, Net: Fixed assets are carried at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method over the estimated remaining useful lives of the assets. Computer software and hardware are depreciated over three to five years, office furniture and fixtures are depreciated over five years, vehicles are depreciated over five years and leasehold improvements are depreciated over the shorter of their useful life or lease term and range from one to five years. Maintenance and repairs are charged to expense as incurred, while significant improvements are capitalized. Depreciation expense is included in general and administrative (“G&A”) expenses in the accompanying unaudited condensed consolidated statements of operations and comprehensive income or loss. Receivables: Receivables include amounts recoverable from warranty insurance, amounts due from utility companies for reimbursement of costs, manufacturer rebates and reimbursable land development costs for general contracting services under a fixed price contract. As of September 30, 2016 , approximately $1.1 million of estimated recoverable from warranty insurance was included in receivables. In addition, approximately $2.8 million of reimbursable land development costs under an option and development agreement executed during the third quarter of 2016 was recorded as a receivable. See Note 11 , “Commitments and Contingencies--Purchase Commitments” for a further discussion of the option and development agreement. As of September 30, 2016 and December 31, 2015 , the Company had no allowance for doubtful accounts recorded. Other Assets: The detail of other assets is set forth below (in thousands): September 30, 2016 December 31, 2015 Customer deposits in escrow $ 2,479 $ 1,834 Prepaid expenses 823 2,099 Other deposits and prepaid interest 1,281 466 Funds held in escrow 1,490 1,490 Other assets 330 — Total $ 6,403 $ 5,889 As part of the Company’s adoption of Accounting Standards Update (“ASU”) 2015-03, approximately $1.5 million of unamortized debt issuance costs that were included in the prepaid expenses category of other assets as of December 31, 2015 have been reclassified from other assets to notes payable and senior notes in the accompanying unaudited condensed consolidated balance sheets. See Note 7 , “Notes Payable and Senior Notes, net” for a further discussion of the change in accounting principle. Homebuilding, Land Development Sales and Other Revenues and Profit Recognition: In accordance with applicable guidance under ASC Topic 360 - Property, Plant, and Equipment , revenue from home sales and other real estate sales is recorded and any profit is recognized when the respective sales are closed. Sales are closed when all conditions of escrow are met, title passes to the buyer, appropriate consideration is received and collection of associated receivables, if any, is reasonably assured and the Company has no continuing involvement with the sold asset. The Company does not offer financing to buyers. Sales price incentives are accounted for as a reduction of revenues when the sale is recorded. If the earnings process is not complete, the sale and any related profits are deferred for recognition in future periods. Any profit recorded is based on the calculation of cost of sales, which is dependent on an allocation of costs. In addition to homebuilding and land development, the Company previously provided construction management services, pursuant to which it built homes on behalf of third-party property owners. The business was acquired in connection with the Citizens Acquisition and it was sold during the fourth quarter of 2015 and we no longer provide construction management services to third parties. Revenue and costs from providing these services for the three and nine months ended September 30, 2015 is included in other revenue and cost of sales-other revenue in the accompanying unaudited condensed consolidated statements of operations and comprehensive income or loss. Stock-Based Compensation: Stock-based compensation expense is measured at the grant date based on the fair value of the award and is recognized as expense over the period during which the award vests in accordance with applicable guidance under ASC Topic 718 - Compensation - Stock Compensation . Stock Repurchase Program: On June 6, 2016, our Board of Directors authorized the repurchase of up to $5.0 million of the Company’s Class A common stock between June 7, 2016 and June 1, 2018 (the “Stock Repurchase Program”). Treasury stock represents shares repurchased under the Stock Repurchase Program, which are reflected as a reduction in Stockholders’ Equity in accordance with ASC Topic 505-30 - Equity - Treasury Stock . The number of shares repurchased is based on the settlement date and factored into our weighted average calculation for earnings per share. See Note 9 , “Equity--Stock Repurchase Program” for additional information regarding the Stock Repurchase Program. See Note 2 , “Income or Loss Per Share” for details regarding the impact of treasury shares on earnings per share. Warranty Reserves: Estimated future direct warranty costs are accrued and charged to cost of sales-homebuilding in the period in which the related homebuilding revenue is recognized. Amounts accrued are based upon estimates of the amount the Company expects to pay for warranty work. Warranty reserves include insurance receivables for costs the Company expects to be reimbursed for from insurance. The Company assesses the adequacy of its warranty reserves on a quarterly basis and adjusts the amounts recorded, if necessary, in the period in which the change in estimate occurs. The Company engaged a third-party actuary during the third quarter of 2016 to assist in the analysis of warranty reserves based on historical data and industry trends for our communities. Warranty reserves are included in accrued liabilities in the accompanying unaudited condensed consolidated balance sheets. Changes in warranty reserves are detailed in the table set forth below (in thousands): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Warranty reserves, beginning of period $ 3,662 $ 2,149 $ 2,852 $ 1,509 Warranty reserves accrued 611 214 1,655 888 Warranty expenditures (209 ) (51 ) (443 ) (85 ) Additional reserves where corresponding amounts are recorded as receivables from insurance carriers 1,118 — 1,118 — Warranty reserves, end of period $ 5,182 $ 2,312 $ 5,182 $ 2,312 Consolidation of Variable Interest Entities: The Company enters into purchase and option agreements for the purchase of real estate as part of the normal course of business. These purchase and option agreements enable the Company to acquire real estate at one or more future dates at pre-determined prices. The Company believes these acquisition structures reduce its financial risk associated with real estate acquisitions and holdings and allow the Company to better manage its cash position and return metrics. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU 2015-02”), to simplify consolidation accounting. ASU 2015-02 amends current consolidation guidance by modifying the evaluation of whether limited partnerships and similar legal entities are variable interest entities or voting interest entities, eliminating the presumption that a general partner should consolidate a limited partnership, and affects the consolidation analysis of reporting entities that are involved with variable interest entities. All legal entities are subject to reevaluation under the revised consolidation model. ASU 2015-02 was effective for the Company for interim and annual reporting periods beginning after December 15, 2015. The Company adopted the provisions of ASU 2015-02 as of the effective date on January 1, 2016. The adoption of ASU 2015-02 did not have an impact on the Company's accompanying unaudited condensed consolidated balance sheet, results of operations or cash flows. Based on the provisions of the relevant accounting guidance, the Company concluded that when it enters into a purchase agreement to acquire real estate from an entity, a variable interest entity (“VIE”) may be created. The Company evaluates all purchase and option agreements for real estate to determine whether a potential VIE has been formed. The applicable accounting guidance requires that for each potential VIE, the Company assess whether it is the primary beneficiary and, if it is, the Company would consolidate the VIE in its accompanying unaudited condensed consolidated financial statements in accordance with ASC Topic 810 - Consolidations , and reflect such assets and liabilities as “Real estate inventories not owned.” In order to determine if the Company is the primary beneficiary, it must first assess whether it has the ability to control the activities of the VIE that most significantly impact its economic performance. Such activities include, but are not limited to: the ability to determine the budget and scope of land development work, if any; the ability to control financing decisions for the VIE; the ability to acquire additional land into the VIE or dispose of land in the VIE not under contract with the Company; and the ability to change or amend the existing option contract with the VIE. If the Company is not determined to control such activities, the Company is not considered the primary beneficiary of the VIE. If the Company does have the ability to control such activities, the Company will continue its analysis by determining if it is also expected to absorb a potentially significant amount of the VIE’s losses or, if no party absorbs the majority of such losses, if the Company will receive a disproportionate benefit from a potentially significant amount of the VIE’s expected gains. In substantially all cases, land owners with which the Company has option agreements have no recourse against the Company and the maximum exposure to loss on the applicable option or purchase agreement is limited to non-refundable option deposits and any capitalized pre-acquisition costs. Some of the Company’s option or purchase deposits may be refundable to the Company if certain contractual conditions are not performed by the party selling the lots. The Company did not identify any VIEs from its evaluation of its purchase and option agreements for real estate. Therefore, the Company did not consolidate any land under option as of September 30, 2016 or December 31, 2015 . Income Taxes: The Company’s provision for income tax expense includes federal and state income taxes currently payable and those deferred because of temporary differences between the income tax and financial reporting basis of the Company’s assets and liabilities. The asset and liability method of accounting for income taxes also requires the Company to reflect the effect of a tax rate change on accumulated deferred income taxes in income during the period in which the change is enacted. In assessing the realization of deferred income taxes, the Company considered whether it is more likely than not that any deferred income tax assets will be realized. The realization of deferred tax assets is subject to the Company generating sufficient taxable income during the periods in which the deferred tax assets become realizable. Due to the Company's cumulative pre-tax operating losses generated prior to 2015, the Company has recorded a valuation allowance against its U.S. deferred tax assets. As of September 30, 2016 , the valuation allowance against the Company’s deferred tax assets was approximately $6.3 million . So long as the valuation allowance exists, income tax expense related to deferred tax assets will be offset by the associated valuation allowance, resulting in an effective U.S. income tax rate substantially different than statutory rates. The Company continues to evaluate all available evidence of sustained profitability in the business. The Company’s business was profitable in 2015 and for the first nine months in 2016. During the fourth quarter of 2016, the Company will again evaluate all available evidence in determining the likelihood that it will be able to realize all or some portion of its deferred tax assets prior to their expiration. If, upon completing this evaluation, the Company concludes that it is more likely than not that the Company will be able to realize its deferred tax assets, the valuation allowance may be reversed at or before the end of the current year. If the Company were to reverse the valuation allowance, the Company would realize a one-time, non-cash tax benefit in the period of reversal. Prospectively, the Company would then expect to report an effective U.S. income tax rate that is closer to its statutory rates. The Company recognizes any uncertain income tax positions on income tax returns at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will not be recognized unless it has a greater than 50% likelihood of being sustained. The Company recognizes any interest and penalties related to uncertain tax positions in income tax expense. For each of the periods presented, the Company did not record any interest or penalties related to uncertain tax positions. See Note 12 , “Income Taxes” for a further discussion of the Company’s income taxes for the applicable period. Noncontrolling Interest: The Company reports the share of its results of operations that is attributable to other owners of its consolidated subsidiaries that are less than wholly-owned as noncontrolling interest in the accompanying unaudited condensed consolidated financial statements. In the accompanying unaudited condensed consolidated statements of operations and comprehensive income or loss, the income or loss attributable to the noncontrolling interest is reported separately, and the accumulated income or loss attributable to the noncontrolling interest, along with any changes in ownership of the subsidiary, is reported as a component of total equity. Recently Issued Accounting Standards: The following recently issued accounting standards are not yet required to be adopted by the Company as of September 30, 2016 : Standard Description Date of Adoption Application Effect on the Consolidated Financial Statements (or Other Significant Matters) Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15) Provides guidance on eight specific cash flow classification issues that are currently not clear or included under GAAP: (1) debt prepayment or debt extinguishment costs; (2) settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; (3) contingent consideration payments made after a business combination; (4) proceeds from the settlement of in

Income or Loss Per Share

Income or Loss Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Income or Loss Per Share	INCOME OR LOSS PER SHARE Basic income or loss per share of Class A common stock is computed by dividing net income or loss attributable to UCP, Inc. by the weighted average number of shares of Class A common stock outstanding during the period. Diluted income or loss per share of Class A common stock is computed similarly to basic income or loss per share except that the weighted average number of shares of Class A common stock outstanding during the period is increased to include additional shares from the assumed exercise of any Class A common stock equivalents using the treasury method, if dilutive. The Company’s restricted stock units (“RSUs”) and stock options (“Options”) are considered Class A common stock equivalents for this purpose. For the three and nine months ended September 30, 2016 and three months ended September 30, 2015 , incremental Class A common stock equivalents were included in calculating diluted income per share. No incremental Class A common stock equivalents were included in calculating diluted loss per share for the nine months ended September 30, 2016 because such inclusion would be anti-dilutive given the net loss attributable to UCP, Inc. during such period. Basic and diluted net income or loss per share of Class A common stock for the three and nine months ended September 30, 2016 and 2015 have been computed as follows (in thousands, except share and per share amounts): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Numerator Net income (loss) attributable to UCP, Inc. $ 1,285 $ 1,639 $ 2,087 $ (869 ) Denominator Weighted average number of shares of Class A common stock outstanding - basic 7,948,268 7,995,934 7,993,371 7,950,700 Effect of dilutive securities: RSUs 38,148 21,834 50,459 — Total shares for purpose of calculating diluted net income (loss) per share 7,986,416 8,017,768 8,043,830 7,950,700 Earnings (loss) per share: Net income (loss) per share of Class A common stock - basic $ 0.16 $ 0.21 $ 0.26 $ (0.11 ) Net income (loss) per share of Class A common stock - diluted $ 0.16 $ 0.20 $ 0.26 $ (0.11 ) The following RSUs and Options issued were excluded in the computation of diluted earnings per share for the three and nine months ended September 30, 2016 and 2015 because the effect would be anti-dilutive: Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Anti-dilutive securities 361,774 280,148 274,544 340,074

Real Estate Inventories

Real Estate Inventories	9 Months Ended
	Sep. 30, 2016
Real Estate [Abstract]
Real Estate Inventories	REAL ESTATE INVENTORIES Real estate inventories consisted of the following (in thousands): September 30, 2016 December 31, 2015 Deposits and pre-acquisition costs $ 7,730 $ 3,836 Land held and land under development 133,386 128,059 Finished lots 113,555 117,335 Homes completed or under construction 102,606 89,866 Model homes 24,426 21,893 Total $ 381,703 $ 360,989 Deposits and pre-acquisition costs include costs relating to land purchase or option contracts. Land held and land under development includes costs incurred during site development, such as land, development, indirect costs and permits. Homes completed or under construction and model homes include all costs associated with home construction, including land, development, indirect costs, permits and fees, and vertical construction. As of September 30, 2016 , the Company had $7.7 million of deposits and pre-acquisition costs for 1,123 lots with an aggregate purchase price of approximately $49.1 million , net of deposits. As of December 31, 2015 , the Company had $3.8 million of deposits and pre-acquisition costs for 1,127 lots with an aggregate purchase price of approximately $80.1 million , net of deposits. As of September 30, 2016 and December 31, 2015 , the Company had completed homes included in inventories of approximately $28.6 million and $31.4 million , respectively, as shown in the charts below ($ in millions): Interest Capitalization Interest is capitalized on real estate inventories during construction and development. Interest capitalized is included in cost of sales in the Company’s accompanying unaudited condensed consolidated statements of operations and comprehensive income or loss as related sales are recognized. Amounts capitalized to home inventory and land inventory were as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Interest expense capitalized as cost of home inventory $ 2,573 $ 2,442 $ 7,748 $ 6,877 Interest expense capitalized as cost of land inventory 606 628 1,551 1,620 Total interest expense capitalized 3,179 3,070 9,299 8,497 Previously capitalized interest expense included in cost of sales - homebuilding (1,990 ) (1,443 ) (5,319 ) (3,367 ) Previously capitalized interest expense included in cost of sales - land development (224 ) — (370 ) (49 ) Net activity of capitalized interest 965 1,627 3,610 5,081 Capitalized interest expense in beginning inventory 15,919 10,753 13,274 7,299 Capitalized interest expense in ending inventory $ 16,884 $ 12,380 $ 16,884 $ 12,380

Fixed Assets, Net

Fixed Assets, Net	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Fixed Assets, Net	FIXED ASSETS, NET Net fixed assets consisted of the following (in thousands): September 30, 2016 December 31, 2015 Computer hardware and software $ 2,018 $ 1,954 Office furniture and equipment and leasehold improvements 888 834 Vehicles 83 83 Total 2,989 2,871 Accumulated depreciation (2,023 ) (1,557 ) Fixed assets, net $ 966 $ 1,314 Depreciation expense for the three months ended September 30, 2016 and 2015 was $131,000 and $151,000 , respectively, and for the nine months ended September 30, 2016 and 2015 was $466,000 and $438,000 , respectively. Depreciation expense is recorded in G&A expenses in the accompanying unaudited condensed consolidated statements of operations and comprehensive income or loss.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Intangible Assets	INTANGIBLE ASSETS Other purchased intangible assets consisted of the following (in thousands): September 30, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization (Used) Ending Balance Gross Carrying Amount Accumulated Amortization (Used) Ending Balance Architectural plans $ 170 $ (86 ) $ 84 $ 170 $ (60 ) $ 110 Land options 583 (545 ) 38 583 (457 ) 126 Trademarks and trade names 110 (110 ) — 110 (110 ) — $ 863 $ (741 ) $ 122 $ 863 $ (627 ) $ 236 Amortization expense for the three months ended September 30, 2016 and 2015 related to the architectural plans and trademarks and trade names intangibles was approximately $8,500 for both periods and for the nine months ended September 30, 2016 and 2015 was $26,000 for both periods. The architectural plans intangible amortization period is 5 years. Amortization expense is recorded in G&A expenses in the accompanying unaudited condensed consolidated statements of operations and comprehensive income or loss. Future estimated amortization expense related to the architectural plans intangibles over the next five years is as follows (in thousands): December 31, 2016 $ 8 2017 34 2018 34 2019 8 Total $ 84 Additionally, $40,000 and $74,000 related to land options was capitalized to real estate inventories during the three and nine months ended September 30, 2016 , respectively, as compared to $196,000 and $279,000 for the three and nine months ended September 30, 2015 , respectively. Goodwill The changes in the carrying amount of goodwill for the nine months ended September 30, 2016 and 2015 were as follows (in thousands): Goodwill Balance at December 31, 2014 $ 4,223 Goodwill impairment — Balance as of September 30, 2015 $ 4,223 Goodwill Balance at December 31, 2015 $ 4,223 Goodwill impairment (4,223 ) Balance as of September 30, 2016 $ — All goodwill has been attributed to the Southeast homebuilding reporting segment as part of the Citizens Acquisition, which was completed in 2014. For the three months ended September 30, 2016 , the Company evaluated goodwill for impairment in light of qualitative indicators. These indicators included revised financial forecasts for the Southwest operating segment as a result of items including weather that delayed new community openings, abandonment of certain opportunities to open new communities as the opportunities did not meet our underwriting criteria, and lower margins on older communities still in existence from the land purchased as part of the acquisition. The Company determined as a result of these qualitative factors, that it should conduct a Step One Test analysis of goodwill. As a result of the Step One Test and subsequent Step Two Test, the Company determined that the carrying value of goodwill exceeded its fair value, resulting in an impairment of goodwill. The fair value of goodwill was estimated by applying the income approach and determining the present value of the estimated future cash flows at a discount rate. When estimating future cash flows, the Company used key assumptions, including, but not limited to: (i) forecasted adjusted pre-tax net income over a ten -year period; (ii) weighted average cost of capital; (iii) terminal growth; and (iv) revenue growth and operating profit margin. The risk adjusted discount rate of 14.5% and terminal growth rate of 2.0% were applied to forecast adjusted pre-tax net income. During the third quarter of 2016 , the Company recorded goodwill impairment of $4.2 million . There was no goodwill impairment for the three and nine months ended September 30, 2015 .

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Accrued Liabilities	ACCRUED LIABILITIES Accrued liabilities consisted of the following (in thousands): September 30, 2016 December 31, 2015 Real estate development cost to complete $ 9,694 $ 11,992 Accrued expenses 5,124 5,692 Warranty reserves ( Note 1 ) 5,182 2,852 Contingent consideration ( Note 11 ) 307 2,707 Accrued payroll liabilities 2,412 1,373 Total $ 22,719 $ 24,616

Notes Payable and Senior Notes,

Notes Payable and Senior Notes, net	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Notes Payable and Senior Notes, net	NOTES PAYABLE AND SENIOR NOTES, NET The Company obtains various types of debt financing in connection with its acquisition, development and construction of real estate inventories and its construction of homes. Often, these debt obligations are secured by the underlying real estate. Certain loans are funded in full at the initial loan closing and others are revolving facilities under which the Company may borrow, repay and reborrow up to a specified amount during the term of the loan. Acquisition indebtedness matures on various dates, but is generally repaid when lots are released from the lien securing the relevant loan based upon a specific release price, as defined in the relevant loan agreement, or the loan is refinanced. Construction and development debt is required to be repaid with proceeds from home closings based upon a specific release price, as defined in the relevant loan agreement. Certain construction and development debt agreements include provisions that require minimum tangible net worth and liquidity; limit leverage and risk asset ratios; specify maximum loan-to-cost or loan-to-value ratios (whichever is lower). During the term of the loan, the lender may require the Company to obtain a third-party written appraisal of the fair value of the underlying real estate collateral. If the appraised fair value of the collateral securing the loan is below the specified minimum, the Company may be required to make principal payments in order to maintain the required loan-to-value ratios. As of September 30, 2016 , the Company had approximately $228.2 million of loan commitments of which approximately $69.6 million was available to us. As of September 30, 2016 and December 31, 2015 , the weighted average interest rate on the Company’s outstanding debt was 6.48% and 6.35% , respectively. Interest rates charged under the Company’s variable rate debt are based on the 30-day London Interbank Offered Rate (“LIBOR”) plus a spread ranging from 3.00% to 3.75% or the U.S. Prime rate (“Prime”) plus a spread of 1.75% . On October 21, 2014, the Company completed the private offering of $75.0 million in aggregate principal amount of 8.5% Senior Notes due 2017 (the “2017 Notes”). The net proceeds from the offering were approximately $72.5 million , after paying the debt issuance costs and offering expenses. The net proceeds from the offering were used for general corporate purposes, including financing construction of homes, acquisition of entitled land, development of lots and working capital. As of September 30, 2016 , the Company was in compliance with the applicable financial covenants under the indenture pursuant to which the 2017 Notes were issued and all of its other loan agreements. The Senior Notes were issued under an Indenture, dated as of October 21, 2014 (the “Indenture”), among the Company, certain subsidiary guarantors and Wilmington Trust, National Association, as trustee. The Senior Notes bear interest at 8.5% per annum, payable on March 31, June 30, September 30 and December 31 of each year. The Senior Notes mature on October 21, 2017, unless earlier redeemed or repurchased. As of September 30, 2016 , the Company was in compliance with the applicable financial covenants under the Indenture and all of its loan agreements. Notes payable and 2017 Notes consisted of the following (in thousands): September 30, 2016 December 31, 2015 Variable Interest Rate: LIBOR + 3.75% through 2016 (a) $ 4,856 $ 30,132 Prime + 1.75% through 2016 (b) — 717 LIBOR + 3.00% through 2016 (a) — 4,832 LIBOR + 3.50% through 2017 (a) 5,256 9,785 LIBOR + 3.75% through 2017 (a) 35,661 21,732 LIBOR + 3.75% through 2018 (a) 23,086 1,120 5.50% through 2016 3,350 2,342 5.00% through 2017 6,021 4,581 Total variable notes payable $ 78,230 $ 75,241 Fixed Interest Rate: 10.00% through 2017 $ 1,604 $ 1,604 0.00% through 2017 — 1,935 8.00% through 2018 4,000 4,000 Total fixed notes payable $ 5,604 $ 7,539 Senior Notes, net 74,831 74,710 Total notes payable and senior notes $ 158,665 $ 157,490 Debt issuance costs (880 ) (1,524 ) Total notes payable and senior notes, net $ 157,785 $ 155,966 (a) LIBOR is the 30-day London Interbank Offered Rate. As of September 30, 2016 , LIBOR was 0.53111%; loans bear interest at LIBOR plus a spread ranging from 3.00% to 3.75% . (b) Prime is the U.S Prime Rate. At December 31, 2015 , Prime was 3.50% plus 1.75% . As of September 30, 2016 , principal maturities of notes payable and 2017 Notes for the years ending December 31 are as follows (in thousands): 2016 $ 8,206 2017 123,373 2018 27,086 2019 and thereafter — Total $ 158,665

Fair Value Disclosures

Fair Value Disclosures	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosure	FAIR VALUE DISCLOSURES The accounting guidance regarding fair value disclosures defines fair value as the price that would be received for selling an asset or the price paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. The Company determines the fair values of its financial instruments based on the fair value hierarchy established in accordance with ASC Topic 820 - Fair Value Measurements , which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The classification of a financial asset or liability within the hierarchy is based upon the lowest level input that is significant to the fair value measurement. The fair value hierarchy prioritizes the inputs into three levels that may be used to measure fair value: • Level 1—Quoted prices for identical instruments in active markets • Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are inactive; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets at measurement date • Level 3—Valuations derived from techniques where one or more significant inputs or significant value drivers are unobservable in active markets at measurement date Estimated Fair Value of Financial Instruments Not Carried at Fair Value As of September 30, 2016 and December 31, 2015 , the fair values of cash and cash equivalents, accounts payable and receivable approximated their carrying values because of the short-term nature of these assets and liabilities. The estimated fair value of the Company’s debt is based on cash flow models discounted at current market interest rates for similar instruments, which are based on Level 3 inputs. There were no transfers between fair value hierarchy levels during the nine months ended September 30, 2016 or the year ended December 31, 2015 . The following presents the carrying value and fair value of the Company’s financial instruments which are not carried at fair value (in thousands): September 30, 2016 December 31, 2015 Level in Fair Value Hierarchy Carrying Value Estimated Fair Carrying Value Estimated Fair Notes Payable Level 3 $ 83,834 $ 86,671 $ 82,780 $ 84,712 2017 Notes Level 3 74,831 80,705 74,710 82,057 Total Debt $ 158,665 $ 167,376 $ 157,490 $ 166,769 The estimated fair value of the Company's debt is the present value of the contractual debt payments, based on cash flow models, discounted at the then-current interest rates, plus an estimate of the then-current credit spread, which is an estimate of the rate at which the Company could obtain replacement debt. These parameters are Level 3 inputs in the fair value hierarchy. To estimate the contractual cash flows, discount rates, and thereby the debt fair value, the Company considers various internal and external factors including: (1) loan economic data, (2) collateral performance, (3) market interest rate data, (4) the discount curve and implied forward rate curve, and (5) other factors, which may include market, region and asset type evaluations. Recurring Financial Instruments Carried at Fair Value The following presents the Company’s recurring financial instruments that are carried at fair value (in thousands): Description Level 1 Level 2 Level 3 Balance as of September 30, 2016 Contingent consideration — — $ 307 $ 307 Description Level 1 Level 2 Level 3 Balance as of December 31, 2015 Contingent consideration — — $ 2,707 $ 2,707 Estimated Fair Value of Contingent Consideration The change in estimated fair value of the contingent consideration for the nine months ended September 30, 2016 and 2015 consisted of the following (in thousands): Contingent Consideration Balance as of December 31, 2014 $ 3,525 Change in fair value (818 ) Balance as of September 30, 2015 $ 2,707 Contingent Consideration Balance as of December 31, 2015 $ 2,707 Change in fair value (2,400 ) Balance as of September 30, 2016 $ 307 The fair value of the contingent consideration of $0.3 million as of September 30, 2016 was estimated based on significant inputs that are not observable in the market, which ASC Topic 820 - Fair Value Measurements, refers to as Level 3 inputs. Key assumptions include: (1) forecast adjusted pre-tax net income over the contingent consideration period; (2) revenue appreciation; (3) cost inflation; and (4) sales and marketing and general and administrative (“SG&A”) expenses. The estimated revenue appreciation of 4.5% , cost inflation of 1.5% , and SG&A expenses were applied to forecast adjusted net income over the contingent consideration period. See Note 11 , “Commitments and Contingencies” for further discussion of contingent consideration. Non-Financial Instruments Carried at Fair Value Non-financial assets and liabilities include items such as inventory and long lived assets that are measured at fair value, on a nonrecurring basis, when events and circumstances indicate the carrying value is not recoverable. See Note 11 , "Commitments and Contingencies" for a discussion of the non-financial measurements applied to the Citizens Acquisition included elsewhere in this report. Non-Recurring Estimated Fair Value of Real Estate Inventories During the third quarter of 2016 , the Company had a non-recurring fair value measurement for the construction of Heathers at Westport. The Company recorded an impairment loss of $0.2 million with respect to the Company’s real estate inventories at Heathers at Westport for the remaining four homes and the carrying value of these homes was written down to their fair value. For the three and nine months ended September 30, 2016 , impairment losses of $0.2 million and $2.6 million , respectively, were recorded to real estate inventories. The following presents the Company’s non-financial instruments that are carried at fair value (in thousands): Description Level 1 Level 2 Level 3 Balance as of September 30, 2016 Total Impairment During the Nine Months Ended September 30, 2016 Real estate and development costs - Heathers at Westport project $ 1,066 $ 1,066 $ 192 Real estate and development costs - Sundance project $ 1,128 $ 1,128 $ 2,397 Real estate and development costs - River Run project $ 3,300 $ 3,300 $ — Description Level 1 Level 2 Level 3 Balance as of December 31, 2015 Total Impairment During the Twelve Months Ended December 31, 2015 Real estate and development costs - Heathers at Westport project $ 975 $ 975 $ — Real estate and development costs - Sundance project $ 9,448 $ 9,448 $ — Real estate and development costs - River Run project $ 5,960 $ 5,960 $ 923 There were no such real estate impairment losses recorded for the three and nine months ended September 30, 2015 . For the year ended December 31, 2015, an impairment of $923,000 was recorded to homebuilding real estate inventory in the River Run project, located in Bakersfield, California, to adjust its carrying value to its estimated fair value as of the date of the impairment.

Equity

Equity	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Equity	EQUITY Noncontrolling Interest As of September 30, 2016 , the Company holds an approximately 43.1% economic interest in UCP, LLC and is its sole managing member; UCP, LLC is fully consolidated. The carrying value and ending balance as of September 30, 2016 of the noncontrolling interest was calculated as follows (in thousands): Beginning balance of noncontrolling interest as of December 31, 2015 $ 127,208 Net income attributable to noncontrolling interest 3,109 Re-allocation of stock issuances (1,909 ) Stock-based compensation attributable to noncontrolling interest 423 Stock issuance attributable to noncontrolling interest (25 ) Distribution to noncontrolling interest (4,830 ) Ending balance of noncontrolling interest as of September 30, 2016 $ 123,976 The distribution to the noncontrolling interest relates to cash distributions, which we refer to as “tax distributions,” that UCP, LLC is obligated to make as noted in the Company’s Annual Report on Form 10-K that was filed with the Securities and Exchange Commission on March 14, 2016. Stock Repurchase Program As part of the Board approved Stock Repurchase Program, between June 7, 2016 and June 1, 2018, management is authorized to repurchase up to $5.0 million of the Company’s Class A common stock in open market purchases, privately negotiated transactions or other transactions. The Stock Repurchase Program is subject to prevailing market conditions and other considerations, including our liquidity, the terms of our debt instruments, planned land investment and development spending, acquisition and other investment opportunities and ongoing capital requirements. Since inception of the program through September 30, 2016 , the Company repurchased an aggregate of 123,636 shares of Class A common stock for total consideration of $1.0 million , inclusive of commissions. The remaining value of shares that may be repurchased under the Stock Repurchase Program as of September 30, 2016 is approximately $4.0 million . The Company previously did not have a stock repurchase program, therefore there were no stock repurchases for the year ended December 31, 2015 . Re-Allocation from Stock Issuances The Company allocates Class A common stock issued in connection with the vesting of RSUs issued under the UCP, Inc. 2013 Long-Term Incentive Plan (the “LTIP”) and stock-based compensation expense between additional paid-in-capital and noncontrolling interest within its condensed consolidated statements of equity. The equity allocations for the noncontrolling interest are based on the economic and voting interest percentages of the Company and its noncontrolling interest holder, PICO. Issuances of Class A common stock for RSUs affect the economic and voting interest percentages, which accordingly are adjusted at the end of each issuance period. The economic and voting interest percentages prevailing during the period are used to determine the current period equity allocations for the noncontrolling interest. Stock-Based Compensation The LTIP was adopted in July 2013 and provides for the grant of equity-based awards, including options to purchase shares of Class A common stock, Class A stock appreciation rights, Class A restricted stock, Class A RSUs and performance awards. The LTIP automatically expires on the tenth anniversary of its effective date. The Company’s board of directors may terminate or amend the LTIP at any time, subject to any stockholder approval required by applicable law, rule or regulation. The number of shares of the Company’s Class A common stock authorized under the LTIP was 1,834,300 shares. To the extent that shares of the Company’s Class A common stock subject to an outstanding option, stock appreciation right, stock award or performance award granted under the LTIP are not issued or delivered by reason of the expiration, termination, cancellation or forfeiture of such award or the settlement of such award in cash, then such shares of the Company’s Class A common stock generally shall again be available under the LTIP, subject to certain exceptions. The RSUs and Options granted to the Company’s employees during the year ended December 31, 2014 are subject to the following vesting schedule: a) 10% vested on the first anniversary of the grant date, b) 20% vest on second anniversary of the grant date, c) 30% vest on the third anniversary of the grant date, and d) 40% vest on the fourth anniversary of the grant date. The RSUs granted to the Company’s employees and certain members of the Company’s board of directors during the three months ended June 30, 2016 are subject to the following vesting schedule: a) 20% vest on the first anniversary of the grant date, b) 20% vest on second anniversary of the grant date, c) 20% vest on the third anniversary of the grant date, d) 20% vest on the fourth anniversary of the grant date, and e) 20% vest on the fifth anniversary of the grant date. The RSUs granted to the Company’s board of directors during the three months ended September 30, 2016 are subject to the following vesting schedule: a) 25% vested on August 5, 2016, b) 25% vest on November 4, 2016, c) 25% vest on February 3, 2017, and d) 25% vest on May 4, 2017. During the three and nine months ended September 30, 2016 , the Company recognized $0.3 million and $0.7 million of stock-based compensation expense, respectively, which was included in G&A expenses in the accompanying unaudited condensed consolidated statements of operations and other comprehensive income or loss. For the three and nine months ended September 30, 2015 , the Company recognized $0.3 million and $1.6 million of stock-based compensation expense, respectively. The following table summarizes the Options activity for the nine months ended September 30, 2016 : Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) (1) Outstanding as of December 31, 2015 149,605 $ 16.20 8.20 — Options granted — — — — Options exercised — — — — Options forfeited — — — — Options expired (32,953 ) — — — Outstanding as of September 30, 2016 116,652 $ 16.20 7.40 — Options vested and exercisable as of September 30, 2016 34,996 $ 16.20 — — Options vested and expected to vest as of September 30, 2016 108,486 (1) The aggregate intrinsic value is calculated as the amount by which the fair value of the underlying stock exceeds the exercise price of the Option. The fair value of the Company’s Class A common stock as of September 30, 2016 was $8.81 per share. The Company uses the Black-Scholes option pricing model to determine the fair value of Options. During the nine months ended September 30, 2016 , the Company had 32,953 vested Options that expired in the second quarter of 2016 based on the Resignation Agreement with the Company’s former Chief Financial Officer and Treasurer. The following table summarizes the RSU activity for the nine months ended September 30, 2016 : Number of Shares Weighted Average Grant Date Fair Value (per share) Outstanding and unvested as of December 31, 2015 48,531 $15.99 Granted 271,635 8.04 Vested (27,850 ) 13.42 Forfeited — — Outstanding and unvested as of September 30, 2016 292,316 $8.85 Unrecognized compensation cost for RSUs and Options issued under the LTIP was $2.4 million (net of estimated forfeitures) as of September 30, 2016 ; approximately $2.0 million of the unrecognized compensation costs related to RSUs and $0.4 million related to Options. The compensation expense is expected to be recognized over a weighted average period of 3.5 years for the RSUs and 1.4 years for the Options.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company has two operating segments, West and Southeast, and two reportable segments, Homebuilding and Land development. Operating Segments Reportable Segments State West Homebuilding California, Washington Land development California, Washington Southeast Homebuilding North Carolina, South Carolina, Tennessee Land development North Carolina, South Carolina, Tennessee Each reportable segment includes real estate with similar economic characteristics, including similar historical and expected long-term gross margin percentages, product types, geography, production processes and methods of distribution. The reportable segments follow the same accounting policies described in Note 1 , “Organization, Basis of Presentation and Summary of Significant Accounting Policies.” Operating results of each reportable segment are not necessarily indicative of the results that would have been achieved had the reportable segment been an independent, stand-alone entity during the periods presented. The Company evaluates the performance of the operating segments based upon gross margin. “Gross Margin” is defined as operating revenues less cost of sales (cost of construction and acquisition, interest, abandonment, impairment and other cost of sales related expenses). Corporate sales, G&A expense and gains or losses are reflected within overall corporate expenses as this constitutes the Company’s primary business objective, supporting all segments. Corporate expenses are not particularly identifiable to any one segment. Financial information relating to reportable segments is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Revenues Gross Margin Revenues Gross Margin Revenues Gross Margin Revenues Gross Margin Homebuilding West $ 79,500 $ 15,129 $ 51,464 $ 10,477 $ 204,273 $ 38,149 $ 120,438 $ 22,589 Southeast 10,340 1,535 18,820 2,801 35,207 5,313 43,267 6,372 Total homebuilding 89,840 16,664 70,284 13,278 239,480 43,462 163,705 28,961 Land development West 3,900 66 1,116 400 5,322 (940 ) 3,156 892 Southeast — — — — — (389 ) — — Total land development 3,900 66 1,116 400 5,322 (1,329 ) 3,156 892 Other (a) — — 2,272 314 — — 5,060 697 Total $ 93,740 $ 16,730 $ 73,672 $ 13,992 $ 244,802 $ 42,133 $ 171,921 $ 30,550 (a) Other includes revenues from construction management services the Company acquired as part of the Citizens Acquisition and are not attributable to the homebuilding and land development operations. The business was sold in the fourth quarter of 2015 and the Company no longer provides construction management services to third parties. Reconciliation of gross margin to net income (loss) is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Gross margin $ 16,730 $ 13,992 $ 42,133 $ 30,550 Sales and marketing 4,853 4,692 13,595 13,246 General and administrative 4,592 5,539 19,101 19,311 Goodwill impairment 4,223 — 4,223 — Income (loss) from operations 3,062 3,761 5,214 (2,007 ) Other income, net 204 45 253 177 Net income (loss) before income taxes 3,266 3,806 5,467 (1,830 ) Provision for income taxes (124 ) — (271 ) — Net income (loss) $ 3,142 $ 3,806 $ 5,196 $ (1,830 ) Total assets for each reportable and operating segment as of September 30, 2016 and December 31, 2015 , are shown in the table below (in thousands): September 30, 2016 December 31, 2015 Homebuilding West $ 232,904 $ 231,624 Southeast 54,168 49,464 Total homebuilding 287,072 281,088 Land development West 94,631 79,901 Southeast — — Total land development 94,631 79,901 Other (a) 40,489 53,708 Total $ 422,192 $ 414,697 (a) Other assets primarily include cash and cash equivalents, deposits and fixed assets which are maintained centrally and used according to the cash flow requirements of all reportable segments.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Legal and Regulatory Matters Lawsuits, claims and proceedings have been or may be instituted or asserted against the Company in the normal course of business, including actions brought on behalf of various classes of claimants. The Company is also subject to local, state and federal laws and regulations related to land development activities, home construction standards, sales practices, employment practices and environmental protection. As a result, the Company is subject to periodic examinations or inquiries by agencies administering these laws and regulations. The Company records a reserve for potential legal claims and regulatory matters when they are probable of occurring and a potential loss is reasonably estimable. The accrual for these matters is based on facts and circumstances specific to each matter and the Company revises these estimates when necessary. In view of the inherent difficulty of predicting outcomes of legal claims and related contingencies, the Company generally cannot predict their ultimate resolution, related timing or any eventual loss. If the evaluations indicate loss contingencies that could be material are not probable, but are reasonably possible, disclosure of the nature with an estimate of possible range of losses or a statement that such loss is not reasonably estimable is made. The Company is not involved in any material litigation nor, to the Company's knowledge, is any material litigation threatened against it. As of September 30, 2016 and December 31, 2015 , the Company did not have any accruals for asserted or unasserted matters. Purchase Commitments In the ordinary course of business, we may enter into purchase or option contracts to procure lots for development and construction of homes. We are subject to customary obligations associated with entering into contracts for the purchase of land. These contracts to purchase properties typically require a cash deposit and are generally contingent upon satisfaction of certain requirements by the sellers, including obtaining applicable property and development entitlements. We may also utilize purchase or option contracts with land sellers as a method of acquiring land in staged takedowns to help us manage the financial and market risks associated with land holdings and to reduce the use of funds from corporate financing sources. Purchase or option contracts generally require a non-refundable deposit for the right to acquire lots over a specified period of time at pre-determined prices. We generally have the right to terminate obligations under both purchase or option contracts by forfeiting the cash deposit with no further financial responsibility to the land seller. Purchase contracts provide the Company with an option to purchase land. The ability to enter into option purchase agreements depends on the availability of land that sellers are willing to sell under option takedown arrangements, the availability of capital from financial intermediaries to finance the development of land, general housing market conditions and local market dynamics. On September 9, 2016, we entered into an Option and Development Agreement whereby we assigned the purchase of a land parcel in Hollister, California, located in San Benito County. Under the agreement, we will develop the land into finished lots with an option to purchase 241 finished lots on a monthly takedown basis that expires on April 25, 2020, subject to an extension. Land development costs we incur are reimbursable under a fixed price contract. As part of the agreement, we made a non-refundable deposit of $6.1 million in consideration of the purchase option. Because we do not own the land, costs that we incur up to the fixed price amount, for developing the finished lots will be treated as a receivable for the amounts due. As of September 30, 2016 , approximately $2.8 million of reimbursable land development costs under an option and development agreement executed during the third quarter of 2016 was recorded as a receivable. As of September 30, 2016 , we had outstanding $7.7 million of cash deposits pertaining to purchase or option contracts for 1,123 lots with an aggregate remaining purchase price of approximately $49.1 million . As of December 31, 2015 , we had outstanding $3.8 million of cash deposits pertaining to purchase or option contracts for 1,127 lots with an aggregate remaining purchase price of approximately $80.1 million . Endangered Species Act The U.S. Fish and Wildlife Service (“USFWS”) has listed the pocket gopher as a threatened species under the Federal Endangered Species Act. This species is present on land owned by UCP in Washington State. The Company believes that this project will incur additional costs relating to the listing of the pocket gopher by USFWS, including potential costs related to (i) acquiring offsite mitigation property, (ii) redesigning the project to incorporate onsite mitigation, and (iii) processing the required approvals with USFWS and the city. During meetings with USFWS earlier in the year, the Company discussed acquiring additional land in the same county to satisfy the mitigation requirements through the purchase and dedication of offsite property. Two specific pieces of agricultural property were identified, and the local USFWS office has informally indicated these properties appear to be suitable to satisfy the mitigation requirements. Based on these discussions, the Company is currently under contract to purchase approximately $955,000 . However, the Company is unable to completely quantify the costs until the mitigation requirements are established by USFWS, either through its general modeling tool, or the approval of an individual habitat conservation plan for the project. The purchase costs of mitigation property are included in the appropriate project budgets. Surety Bonds The Company obtains surety bonds from third parties in the normal course of business to ensure completion of certain infrastructure improvements at its projects. The performance bonds secure the completion of projects and/or support of obligations to build community improvements, such as roads, sewers, water systems and other utilities. As of September 30, 2016 and December 31, 2015 , the Company had outstanding surety bonds totaling $39.6 million and $37.1 million , respectively. In the event that any such surety bond issued by a third party is called because the required improvements are not completed, the Company could be obligated to reimburse the issuer of the bond. Performance bonds do not have stated expiration dates. Rather, the Company is released from a performance bond as the underlying performance is completed. We do not expect that a material amount of any currently outstanding performance bonds will be called. Operating Leases The Company leases some of its offices under non-cancellable operating leases that expire at various dates through 2020 and thereafter. Rent expense for the three and nine months ended September 30, 2016 for office space was approximately $0.3 million and $1.0 million , respectively. For the three and nine months ended September 30, 2015 , rent expense for office space was approximately $0.3 million and $0.9 million , respectively. Future minimum payments under all operating leases for the years ending December 31 are as follows (in thousands): 2016 $ 256 2017 1,029 2018 937 2019 413 2020 213 Thereafter 18 Total $ 2,866 Contingent Consideration The change in estimated fair value of the contingent consideration relating to the Citizens Acquisition consisted of the following (in thousands): Contingent Consideration Balance as of December 31, 2014 $ 3,525 Change in fair value (818 ) Balance as of September 30, 2015 $ 2,707 Contingent Consideration Balance as of December 31, 2015 $ 2,707 Change in fair value (2,400 ) Balance as of September 30, 2016 $ 307 The contingent consideration arrangement relating to the Citizens Acquisition requires the Company to pay up to a maximum of $6.0 million of additional consideration based upon the achievement of various pre-tax net income performance milestones (“performance milestones”) by the assets acquired in the Citizens Acquisition over a five -year period that commenced on April 1, 2014. Payout calculations are made based on calendar year performance except for the sixth payout calculation which will be calculated based on the achievement of performance milestones from January 1, 2019 through March 25, 2019. Payouts are made on an annual basis. The potential undiscounted amount of all future payments that the Company could be required to make under the contingent consideration arrangement is between $0 and $6 million . The fair value of the contingent consideration of $0.3 million as of September 30, 2016 was estimated based on applying the weighted probability of achievement of the performance milestones. See Note 8 , “Fair Value Disclosures” for a further discussion of the fair value measurement of contingent consideration.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	For the three and nine months ended September 30, 2016 , a provision for income taxes of $124,000 and $271,000 , respectively, was recorded. No tax provision was recorded for the three and nine months ended September 30, 2015 . The increase in the year over year income tax provision is primarily related to Alternative Minimum Tax as a result of the Company’s increase in earnings for the three and nine months ended September 30, 2016 , as compared to the same periods in 2015. As a result of the analysis of all available evidence as of September 30, 2016 and December 31, 2015 , the Company continued to record a full valuation allowance on its net deferred tax assets. If the Company’s assumptions change and the Company believes that it will be able to realize these deferred tax assets, the tax benefits relating to any reversal of the valuation allowance on deferred tax assets will be recognized as a reduction of future income tax expense. If the assumptions do not change, each period the Company could record an additional valuation allowance on any increases in the deferred tax assets. See Note 1 , “Organization, Basis of Presentation and Summary of Significant Accounting Policies--Income Taxes” for a further discussion of income taxes.

Organization, Basis of Presen19

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. These financial statements should be read in conjunction with the Company's audited financial statements for the year ended December 31, 2015 , which are included in the Company’s Annual Report on Form 10-K that was filed with the Securities and Exchange Commission on March 14, 2016 . The accompanying unaudited condensed consolidated financial statements include all adjustments (consisting of normal recurring adjustments) necessary for the fair presentation of the Company’s results for the interim periods presented. These consolidated and segment results are not necessarily indicative of the Company’s future performance. As an “emerging growth company,” as defined in the Jumpstart Our Business Startups Act of 2012, the Company has taken advantage of certain temporary exemptions from various reporting requirements, including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act and reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements. The Company could be an emerging growth company until the last day of the fiscal year following the fifth anniversary of the July 23, 2013 completion of its initial public offering, although a variety of circumstances can cause it to lose this status earlier.
Use of Estimates in Preparation of Financial Statements	Use of Estimates in Preparation of Financial Statements: The preparation of condensed consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses for each reporting period. The significant estimates made in the preparation of the Company’s accompanying unaudited condensed consolidated financial statements relate to the assessment of real estate impairments, valuation of assets and liabilities acquired, warranty reserves, income taxes and contingent liabilities. While management believes that the carrying value of such assets and liabilities are appropriate as of September 30, 2016 and December 31, 2015 , it is reasonably possible that actual results could differ from the estimates upon which the carrying values were based.
Segment Reporting	Segment Reporting: The Company has two operating segments, West and Southeast, and two reportable segments, Homebuilding and Land development. Each reportable segment includes real estate with similar economic characteristics, including similar historical and expected long-term gross margin percentages, product types, geography, production processes and methods of distribution.
Cash and Cash Equivalents	Cash and Cash Equivalents and Restricted Cash: Cash and cash equivalents include highly liquid instruments purchased with original maturities of three months or less.
Capitalization of Interest	Capitalization of Interest: The Company capitalizes interest to real estate inventories during the period that real estate is undergoing development. Interest capitalized as a cost of real estate inventories is included in cost of sales-homebuilding or cost of sales-land development as related homes or real estate are delivered.
Real Estate Inventories and Cost of Sales	Real Estate Inventories and Cost of Sales: The Company capitalizes pre-acquisition costs, the purchase price of real estate, development costs and other allocated costs, including interest, during development and home construction. Pre-acquisition costs, including non-refundable land deposits, are expensed to cost of sales when the Company determines continuation of the related project is not probable. Applicable costs incurred after development or construction is substantially complete are charged to sales and marketing or general and administrative, as appropriate. Land, development and other common costs are typically allocated to real estate inventories based on the number of homes to be constructed. Direct home construction costs are recorded using the specific identification method. Cost of sales-homebuilding includes the construction costs of each home and all applicable land acquisition, real estate development, capitalized interest and related allocated common costs. Changes to estimated total development costs subsequent to initial home closings in a community are allocated to remaining homes in the community. Cost of sales-land development includes land acquisition and development costs, capitalized interest, impairment charges, abandonment charges for projects that are no longer economically viable, and real estate taxes. Real estate inventories are stated at cost, unless the carrying amount is determined not to be recoverable, in which case real estate inventories are written down to fair value. All real estate inventories are classified as held until the Company commits to a plan to sell the real estate, the real estate can be sold in its present condition, the real estate is being actively marketed for sale and it is probable that the real estate will be sold within twelve months. Homes completed or under construction are included in real estate inventories in the accompanying unaudited condensed consolidated balance sheets at the lower of cost or net realizable value.
Impairment of Real Estate Inventories	Impairment and Abandonment of Real Estate Inventories: The Company evaluates real estate inventories for impairment when conditions exist suggesting that the carrying amount of real estate inventories is not fully recoverable and may exceed its fair value. Indicators of impairment include, but are not limited to, significant decreases in local housing market values, decreases in the selling prices of comparable homes, significant decreases in gross margins and sales absorption rates, costs in excess of budget, and actual or projected cash flow losses. The Company prepares and analyzes cash flows at the lowest level for which there are identifiable cash flows that are independent of the cash flows of other groups of assets. When estimating future cash flows of its real estate assets, the Company makes various assumptions, including: (i) expected sales prices and sales incentives (based on, among other things, an estimate of the number of homes available in the market, pricing and incentives, and potential sales price adjustments based on market and economic trends); (ii) expected sales pace and cancellation rates (based on local housing market conditions, competition and historical trends); (iii) costs incurred to date and expected to be incurred (including, but not limited to, land and land development costs, home construction costs, indirect construction costs, and selling and marketing costs); (iv) alternative product offerings that may be offered that could have an impact on sales pace, sales price and/or building costs; and (v) alternative uses for the property. If events or circumstances indicate that the carrying amount of real estate inventories may be impaired, such impairment will be measured based upon the difference between the carrying amount and the fair value of such asset(s) determined using the estimated future discounted cash flows, excluding interest charges, generated from the use and ultimate disposition of such asset(s). Such losses, if any, are reported within cost of sales for the period. We estimate the fair value of each impaired community by determining the present value of the estimated future cash flows at a discount rate commensurate with the risk of the respective community. In determining the fair value of land held for sale, management considers, among other things, prices for land in recent comparable sale transactions, market analysis studies, which include the estimated price a willing buyer would pay for the land, and recent bona fide offers received from third parties.
Fixed Assets, Net	Fixed Assets, Net: Fixed assets are carried at cost, net of accumulated depreciation. Depreciation is computed using the straight-line method over the estimated remaining useful lives of the assets. Computer software and hardware are depreciated over three to five years, office furniture and fixtures are depreciated over five years, vehicles are depreciated over five years and leasehold improvements are depreciated over the shorter of their useful life or lease term and range from one to five years. Maintenance and repairs are charged to expense as incurred, while significant improvements are capitalized. Depreciation expense is included in general and administrative (“G&A”) expenses in the accompanying unaudited condensed consolidated statements of operations and comprehensive income or loss.
Receivables	Receivables: Receivables include amounts recoverable from warranty insurance, amounts due from utility companies for reimbursement of costs, manufacturer rebates and reimbursable land development costs for general contracting services under a fixed price contract.
Homebuilding and Land Development Sales and Income Recognition	Homebuilding, Land Development Sales and Other Revenues and Profit Recognition: In accordance with applicable guidance under ASC Topic 360 - Property, Plant, and Equipment , revenue from home sales and other real estate sales is recorded and any profit is recognized when the respective sales are closed. Sales are closed when all conditions of escrow are met, title passes to the buyer, appropriate consideration is received and collection of associated receivables, if any, is reasonably assured and the Company has no continuing involvement with the sold asset. The Company does not offer financing to buyers. Sales price incentives are accounted for as a reduction of revenues when the sale is recorded. If the earnings process is not complete, the sale and any related profits are deferred for recognition in future periods. Any profit recorded is based on the calculation of cost of sales, which is dependent on an allocation of costs. In addition to homebuilding and land development, the Company previously provided construction management services, pursuant to which it built homes on behalf of third-party property owners. The business was acquired in connection with the Citizens Acquisition and it was sold during the fourth quarter of 2015 and we no longer provide construction management services to third parties. Revenue and costs from providing these services for the three and nine months ended September 30, 2015 is included in other revenue and cost of sales-other revenue in the accompanying unaudited condensed consolidated statements of operations and comprehensive income or loss.
Stock-Based Compensation	Stock-Based Compensation: Stock-based compensation expense is measured at the grant date based on the fair value of the award and is recognized as expense over the period during which the award vests in accordance with applicable guidance under ASC Topic 718 - Compensation - Stock Compensation .
Warranty Reserves	Warranty Reserves: Estimated future direct warranty costs are accrued and charged to cost of sales-homebuilding in the period in which the related homebuilding revenue is recognized. Amounts accrued are based upon estimates of the amount the Company expects to pay for warranty work. Warranty reserves include insurance receivables for costs the Company expects to be reimbursed for from insurance. The Company assesses the adequacy of its warranty reserves on a quarterly basis and adjusts the amounts recorded, if necessary, in the period in which the change in estimate occurs. The Company engaged a third-party actuary during the third quarter of 2016 to assist in the analysis of warranty reserves based on historical data and industry trends for our communities. Warranty reserves are included in accrued liabilities in the accompanying unaudited condensed consolidated balance sheets.
Consolidation of Variable Interest Entities	Consolidation of Variable Interest Entities: The Company enters into purchase and option agreements for the purchase of real estate as part of the normal course of business. These purchase and option agreements enable the Company to acquire real estate at one or more future dates at pre-determined prices. The Company believes these acquisition structures reduce its financial risk associated with real estate acquisitions and holdings and allow the Company to better manage its cash position and return metrics. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU 2015-02”), to simplify consolidation accounting. ASU 2015-02 amends current consolidation guidance by modifying the evaluation of whether limited partnerships and similar legal entities are variable interest entities or voting interest entities, eliminating the presumption that a general partner should consolidate a limited partnership, and affects the consolidation analysis of reporting entities that are involved with variable interest entities. All legal entities are subject to reevaluation under the revised consolidation model. ASU 2015-02 was effective for the Company for interim and annual reporting periods beginning after December 15, 2015. The Company adopted the provisions of ASU 2015-02 as of the effective date on January 1, 2016. The adoption of ASU 2015-02 did not have an impact on the Company's accompanying unaudited condensed consolidated balance sheet, results of operations or cash flows. Based on the provisions of the relevant accounting guidance, the Company concluded that when it enters into a purchase agreement to acquire real estate from an entity, a variable interest entity (“VIE”) may be created. The Company evaluates all purchase and option agreements for real estate to determine whether a potential VIE has been formed. The applicable accounting guidance requires that for each potential VIE, the Company assess whether it is the primary beneficiary and, if it is, the Company would consolidate the VIE in its accompanying unaudited condensed consolidated financial statements in accordance with ASC Topic 810 - Consolidations , and reflect such assets and liabilities as “Real estate inventories not owned.” In order to determine if the Company is the primary beneficiary, it must first assess whether it has the ability to control the activities of the VIE that most significantly impact its economic performance. Such activities include, but are not limited to: the ability to determine the budget and scope of land development work, if any; the ability to control financing decisions for the VIE; the ability to acquire additional land into the VIE or dispose of land in the VIE not under contract with the Company; and the ability to change or amend the existing option contract with the VIE. If the Company is not determined to control such activities, the Company is not considered the primary beneficiary of the VIE. If the Company does have the ability to control such activities, the Company will continue its analysis by determining if it is also expected to absorb a potentially significant amount of the VIE’s losses or, if no party absorbs the majority of such losses, if the Company will receive a disproportionate benefit from a potentially significant amount of the VIE’s expected gains. In substantially all cases, land owners with which the Company has option agreements have no recourse against the Company and the maximum exposure to loss on the applicable option or purchase agreement is limited to non-refundable option deposits and any capitalized pre-acquisition costs. Some of the Company’s option or purchase deposits may be refundable to the Company if certain contractual conditions are not performed by the party selling the lots.
Income Taxes	Income Taxes: The Company’s provision for income tax expense includes federal and state income taxes currently payable and those deferred because of temporary differences between the income tax and financial reporting basis of the Company’s assets and liabilities. The asset and liability method of accounting for income taxes also requires the Company to reflect the effect of a tax rate change on accumulated deferred income taxes in income during the period in which the change is enacted. In assessing the realization of deferred income taxes, the Company considered whether it is more likely than not that any deferred income tax assets will be realized. The realization of deferred tax assets is subject to the Company generating sufficient taxable income during the periods in which the deferred tax assets become realizable. Due to the Company's cumulative pre-tax operating losses generated prior to 2015, the Company has recorded a valuation allowance against its U.S. deferred tax assets. As of September 30, 2016 , the valuation allowance against the Company’s deferred tax assets was approximately $6.3 million . So long as the valuation allowance exists, income tax expense related to deferred tax assets will be offset by the associated valuation allowance, resulting in an effective U.S. income tax rate substantially different than statutory rates. The Company continues to evaluate all available evidence of sustained profitability in the business. The Company’s business was profitable in 2015 and for the first nine months in 2016. During the fourth quarter of 2016, the Company will again evaluate all available evidence in determining the likelihood that it will be able to realize all or some portion of its deferred tax assets prior to their expiration. If, upon completing this evaluation, the Company concludes that it is more likely than not that the Company will be able to realize its deferred tax assets, the valuation allowance may be reversed at or before the end of the current year. If the Company were to reverse the valuation allowance, the Company would realize a one-time, non-cash tax benefit in the period of reversal. Prospectively, the Company would then expect to report an effective U.S. income tax rate that is closer to its statutory rates. The Company recognizes any uncertain income tax positions on income tax returns at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will not be recognized unless it has a greater than 50% likelihood of being sustained. The Company recognizes any interest and penalties related to uncertain tax positions in income tax expense. For each of the periods presented, the Company did not record any interest or penalties related to uncertain tax positions. See Note 12 , “Income Taxes” for a further discussion of the Company’s income taxes for the applicable period.
Noncontrolling Interest	Noncontrolling Interest: The Company reports the share of its results of operations that is attributable to other owners of its consolidated subsidiaries that are less than wholly-owned as noncontrolling interest in the accompanying unaudited condensed consolidated financial statements. In the accompanying unaudited condensed consolidated statements of operations and comprehensive income or loss, the income or loss attributable to the noncontrolling interest is reported separately, and the accumulated income or loss attributable to the noncontrolling interest, along with any changes in ownership of the subsidiary, is reported as a component of total equity.
Recently Issued Accounting Standards	Recently Issued Accounting Standards: The following recently issued accounting standards are not yet required to be adopted by the Company as of September 30, 2016 : Standard Description Date of Adoption Application Effect on the Consolidated Financial Statements (or Other Significant Matters) Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15) Provides guidance on eight specific cash flow classification issues that are currently not clear or included under GAAP: (1) debt prepayment or debt extinguishment costs; (2) settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; (3) contingent consideration payments made after a business combination; (4) proceeds from the settlement of insurance claims; (5) proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies; (6) distributions received from equity method investees; (7) beneficial interests in securitization transactions; and (8) separately identifiable cash flows and application of the predominance principle. January 1, 2018; early adoption permitted Retrospective The Company is evaluating the method of adoption and the effect on its consolidated financial statements and related disclosures. Other than as described above, no new accounting pronouncement has had or is expected to have a material impact on the Company’s accompanying unaudited condensed consolidated financial statements.

Organization, Basis of Presen20

Organization, Basis of Presentation and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of other assets	The detail of other assets is set forth below (in thousands): September 30, 2016 December 31, 2015 Customer deposits in escrow $ 2,479 $ 1,834 Prepaid expenses 823 2,099 Other deposits and prepaid interest 1,281 466 Funds held in escrow 1,490 1,490 Other assets 330 — Total $ 6,403 $ 5,889
Schedule of warranty reserves	Changes in warranty reserves are detailed in the table set forth below (in thousands): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Warranty reserves, beginning of period $ 3,662 $ 2,149 $ 2,852 $ 1,509 Warranty reserves accrued 611 214 1,655 888 Warranty expenditures (209 ) (51 ) (443 ) (85 ) Additional reserves where corresponding amounts are recorded as receivables from insurance carriers 1,118 — 1,118 — Warranty reserves, end of period $ 5,182 $ 2,312 $ 5,182 $ 2,312

Income or Loss Per Share (Table

Income or Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings (Loss) Per Share	Basic and diluted net income or loss per share of Class A common stock for the three and nine months ended September 30, 2016 and 2015 have been computed as follows (in thousands, except share and per share amounts): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Numerator Net income (loss) attributable to UCP, Inc. $ 1,285 $ 1,639 $ 2,087 $ (869 ) Denominator Weighted average number of shares of Class A common stock outstanding - basic 7,948,268 7,995,934 7,993,371 7,950,700 Effect of dilutive securities: RSUs 38,148 21,834 50,459 — Total shares for purpose of calculating diluted net income (loss) per share 7,986,416 8,017,768 8,043,830 7,950,700 Earnings (loss) per share: Net income (loss) per share of Class A common stock - basic $ 0.16 $ 0.21 $ 0.26 $ (0.11 ) Net income (loss) per share of Class A common stock - diluted $ 0.16 $ 0.20 $ 0.26 $ (0.11 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following RSUs and Options issued were excluded in the computation of diluted earnings per share for the three and nine months ended September 30, 2016 and 2015 because the effect would be anti-dilutive: Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Anti-dilutive securities 361,774 280,148 274,544 340,074

Real Estate Inventories (Tables

Real Estate Inventories (Tables)	9 Months Ended
	Sep. 30, 2016
Real Estate [Abstract]
Schedule of real estate inventory	Real estate inventories consisted of the following (in thousands): September 30, 2016 December 31, 2015 Deposits and pre-acquisition costs $ 7,730 $ 3,836 Land held and land under development 133,386 128,059 Finished lots 113,555 117,335 Homes completed or under construction 102,606 89,866 Model homes 24,426 21,893 Total $ 381,703 $ 360,989
Schedule of interest capitalization	Amounts capitalized to home inventory and land inventory were as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Interest expense capitalized as cost of home inventory $ 2,573 $ 2,442 $ 7,748 $ 6,877 Interest expense capitalized as cost of land inventory 606 628 1,551 1,620 Total interest expense capitalized 3,179 3,070 9,299 8,497 Previously capitalized interest expense included in cost of sales - homebuilding (1,990 ) (1,443 ) (5,319 ) (3,367 ) Previously capitalized interest expense included in cost of sales - land development (224 ) — (370 ) (49 ) Net activity of capitalized interest 965 1,627 3,610 5,081 Capitalized interest expense in beginning inventory 15,919 10,753 13,274 7,299 Capitalized interest expense in ending inventory $ 16,884 $ 12,380 $ 16,884 $ 12,380

Fixed Assets, Net (Tables)

Fixed Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Schedule of fixed assets	Net fixed assets consisted of the following (in thousands): September 30, 2016 December 31, 2015 Computer hardware and software $ 2,018 $ 1,954 Office furniture and equipment and leasehold improvements 888 834 Vehicles 83 83 Total 2,989 2,871 Accumulated depreciation (2,023 ) (1,557 ) Fixed assets, net $ 966 $ 1,314

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination	Other purchased intangible assets consisted of the following (in thousands): September 30, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization (Used) Ending Balance Gross Carrying Amount Accumulated Amortization (Used) Ending Balance Architectural plans $ 170 $ (86 ) $ 84 $ 170 $ (60 ) $ 110 Land options 583 (545 ) 38 583 (457 ) 126 Trademarks and trade names 110 (110 ) — 110 (110 ) — $ 863 $ (741 ) $ 122 $ 863 $ (627 ) $ 236
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Future estimated amortization expense related to the architectural plans intangibles over the next five years is as follows (in thousands): December 31, 2016 $ 8 2017 34 2018 34 2019 8 Total $ 84
Schedule of Goodwill	The changes in the carrying amount of goodwill for the nine months ended September 30, 2016 and 2015 were as follows (in thousands): Goodwill Balance at December 31, 2014 $ 4,223 Goodwill impairment — Balance as of September 30, 2015 $ 4,223 Goodwill Balance at December 31, 2015 $ 4,223 Goodwill impairment (4,223 ) Balance as of September 30, 2016 $ —

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Schedule of accounts payable and accrued liabilities	Accrued liabilities consisted of the following (in thousands): September 30, 2016 December 31, 2015 Real estate development cost to complete $ 9,694 $ 11,992 Accrued expenses 5,124 5,692 Warranty reserves ( Note 1 ) 5,182 2,852 Contingent consideration ( Note 11 ) 307 2,707 Accrued payroll liabilities 2,412 1,373 Total $ 22,719 $ 24,616

Notes Payable and Senior Note26

Notes Payable and Senior Notes, net (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of debt	Notes payable and 2017 Notes consisted of the following (in thousands): September 30, 2016 December 31, 2015 Variable Interest Rate: LIBOR + 3.75% through 2016 (a) $ 4,856 $ 30,132 Prime + 1.75% through 2016 (b) — 717 LIBOR + 3.00% through 2016 (a) — 4,832 LIBOR + 3.50% through 2017 (a) 5,256 9,785 LIBOR + 3.75% through 2017 (a) 35,661 21,732 LIBOR + 3.75% through 2018 (a) 23,086 1,120 5.50% through 2016 3,350 2,342 5.00% through 2017 6,021 4,581 Total variable notes payable $ 78,230 $ 75,241 Fixed Interest Rate: 10.00% through 2017 $ 1,604 $ 1,604 0.00% through 2017 — 1,935 8.00% through 2018 4,000 4,000 Total fixed notes payable $ 5,604 $ 7,539 Senior Notes, net 74,831 74,710 Total notes payable and senior notes $ 158,665 $ 157,490 Debt issuance costs (880 ) (1,524 ) Total notes payable and senior notes, net $ 157,785 $ 155,966 (a) LIBOR is the 30-day London Interbank Offered Rate. As of September 30, 2016 , LIBOR was 0.53111%; loans bear interest at LIBOR plus a spread ranging from 3.00% to 3.75% . (b) Prime is the U.S Prime Rate. At December 31, 2015 , Prime was 3.50% plus 1.75% .
Schedule of future minimum payments	As of September 30, 2016 , principal maturities of notes payable and 2017 Notes for the years ending December 31 are as follows (in thousands): 2016 $ 8,206 2017 123,373 2018 27,086 2019 and thereafter — Total $ 158,665

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of financial instruments not carried at fair value	The following presents the carrying value and fair value of the Company’s financial instruments which are not carried at fair value (in thousands): September 30, 2016 December 31, 2015 Level in Fair Value Hierarchy Carrying Value Estimated Fair Carrying Value Estimated Fair Notes Payable Level 3 $ 83,834 $ 86,671 $ 82,780 $ 84,712 2017 Notes Level 3 74,831 80,705 74,710 82,057 Total Debt $ 158,665 $ 167,376 $ 157,490 $ 166,769
Fair Value, Liabilities Measured on Recurring Basis	Recurring Financial Instruments Carried at Fair Value The following presents the Company’s recurring financial instruments that are carried at fair value (in thousands): Description Level 1 Level 2 Level 3 Balance as of September 30, 2016 Contingent consideration — — $ 307 $ 307 Description Level 1 Level 2 Level 3 Balance as of December 31, 2015 Contingent consideration — — $ 2,707 $ 2,707
Schedule of Business Acquisitions by Acquisition, Contingent Consideration	The change in estimated fair value of the contingent consideration for the nine months ended September 30, 2016 and 2015 consisted of the following (in thousands): Contingent Consideration Balance as of December 31, 2014 $ 3,525 Change in fair value (818 ) Balance as of September 30, 2015 $ 2,707 Contingent Consideration Balance as of December 31, 2015 $ 2,707 Change in fair value (2,400 ) Balance as of September 30, 2016 $ 307
Fair Value Measurements, Nonrecurring	The following presents the Company’s non-financial instruments that are carried at fair value (in thousands): Description Level 1 Level 2 Level 3 Balance as of September 30, 2016 Total Impairment During the Nine Months Ended September 30, 2016 Real estate and development costs - Heathers at Westport project $ 1,066 $ 1,066 $ 192 Real estate and development costs - Sundance project $ 1,128 $ 1,128 $ 2,397 Real estate and development costs - River Run project $ 3,300 $ 3,300 $ — Description Level 1 Level 2 Level 3 Balance as of December 31, 2015 Total Impairment During the Twelve Months Ended December 31, 2015 Real estate and development costs - Heathers at Westport project $ 975 $ 975 $ — Real estate and development costs - Sundance project $ 9,448 $ 9,448 $ — Real estate and development costs - River Run project $ 5,960 $ 5,960 $ 923

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net	The carrying value and ending balance as of September 30, 2016 of the noncontrolling interest was calculated as follows (in thousands): Beginning balance of noncontrolling interest as of December 31, 2015 $ 127,208 Net income attributable to noncontrolling interest 3,109 Re-allocation of stock issuances (1,909 ) Stock-based compensation attributable to noncontrolling interest 423 Stock issuance attributable to noncontrolling interest (25 ) Distribution to noncontrolling interest (4,830 ) Ending balance of noncontrolling interest as of September 30, 2016 $ 123,976
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of share-based activity	The following table summarizes the Options activity for the nine months ended September 30, 2016 : Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) (1) Outstanding as of December 31, 2015 149,605 $ 16.20 8.20 — Options granted — — — — Options exercised — — — — Options forfeited — — — — Options expired (32,953 ) — — — Outstanding as of September 30, 2016 116,652 $ 16.20 7.40 — Options vested and exercisable as of September 30, 2016 34,996 $ 16.20 — — Options vested and expected to vest as of September 30, 2016 108,486 (1) The aggregate intrinsic value is calculated as the amount by which the fair value of the underlying stock exceeds the exercise price of the Option. The fair value of the Company’s Class A common stock as of September 30, 2016 was $8.81 per share.
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of share-based activity	The following table summarizes the RSU activity for the nine months ended September 30, 2016 : Number of Shares Weighted Average Grant Date Fair Value (per share) Outstanding and unvested as of December 31, 2015 48,531 $15.99 Granted 271,635 8.04 Vested (27,850 ) 13.42 Forfeited — — Outstanding and unvested as of September 30, 2016 292,316 $8.85

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Schedule of financial information relating to segments	Reconciliation of gross margin to net income (loss) is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Gross margin $ 16,730 $ 13,992 $ 42,133 $ 30,550 Sales and marketing 4,853 4,692 13,595 13,246 General and administrative 4,592 5,539 19,101 19,311 Goodwill impairment 4,223 — 4,223 — Income (loss) from operations 3,062 3,761 5,214 (2,007 ) Other income, net 204 45 253 177 Net income (loss) before income taxes 3,266 3,806 5,467 (1,830 ) Provision for income taxes (124 ) — (271 ) — Net income (loss) $ 3,142 $ 3,806 $ 5,196 $ (1,830 ) Total assets for each reportable and operating segment as of September 30, 2016 and December 31, 2015 , are shown in the table below (in thousands): September 30, 2016 December 31, 2015 Homebuilding West $ 232,904 $ 231,624 Southeast 54,168 49,464 Total homebuilding 287,072 281,088 Land development West 94,631 79,901 Southeast — — Total land development 94,631 79,901 Other (a) 40,489 53,708 Total $ 422,192 $ 414,697 (a) Other assets primarily include cash and cash equivalents, deposits and fixed assets which are maintained centrally and used according to the cash flow requirements of all reportable segments. Financial information relating to reportable segments is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2016 2015 2016 2015 Revenues Gross Margin Revenues Gross Margin Revenues Gross Margin Revenues Gross Margin Homebuilding West $ 79,500 $ 15,129 $ 51,464 $ 10,477 $ 204,273 $ 38,149 $ 120,438 $ 22,589 Southeast 10,340 1,535 18,820 2,801 35,207 5,313 43,267 6,372 Total homebuilding 89,840 16,664 70,284 13,278 239,480 43,462 163,705 28,961 Land development West 3,900 66 1,116 400 5,322 (940 ) 3,156 892 Southeast — — — — — (389 ) — — Total land development 3,900 66 1,116 400 5,322 (1,329 ) 3,156 892 Other (a) — — 2,272 314 — — 5,060 697 Total $ 93,740 $ 16,730 $ 73,672 $ 13,992 $ 244,802 $ 42,133 $ 171,921 $ 30,550 (a) Other includes revenues from construction management services the Company acquired as part of the Citizens Acquisition and are not attributable to the homebuilding and land development operations. The business was sold in the fourth quarter of 2015 and the Company no longer provides construction management services to third parties.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum payments under all operating leases for the years ending December 31 are as follows (in thousands): 2016 $ 256 2017 1,029 2018 937 2019 413 2020 213 Thereafter 18 Total $ 2,866
Schedule of Gain Contingencies by Contingency	The change in estimated fair value of the contingent consideration relating to the Citizens Acquisition consisted of the following (in thousands): Contingent Consideration Balance as of December 31, 2014 $ 3,525 Change in fair value (818 ) Balance as of September 30, 2015 $ 2,707 Contingent Consideration Balance as of December 31, 2015 $ 2,707 Change in fair value (2,400 ) Balance as of September 30, 2016 $ 307

Organization, Basis of Presen31

Organization, Basis of Presentation and Summary of Significant Accounting Policies - (Details)	Jun. 30, 2016USD ($)lot	Sep. 30, 2016USD ($)lot	Jun. 30, 2016USD ($)lot	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)lotdirectorsegmentregion	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)lot	Jun. 07, 2016USD ($)
Property, Plant and Equipment [Line Items]
Economic interest percentage		56.90%			56.90%
Number of operating segments | region					2
Number of reportable segments | segment					2
Restricted cash		$ 900,000			$ 900,000		$ 900,000
Advertising expense		500,000		$ 600,000	1,500,000	$ 2,000,000
Impairment on real estate	$ 300,000	$ 192,000		0	$ 2,589,000	0
Number of land purchase contracts | lot		1,123			1,123		1,127
Abandonment charges		$ 31,000		144,000	$ 505,000	146,000
Goodwill impairment		4,223,000		0	4,223,000	0	$ 0
Additional reserves where corresponding amounts are recorded as receivables from insurance carriers		1,118,000		$ 0	1,118,000	$ 0
Unamortized debt issuance costs		880,000			880,000		1,524,000
Authorized amount								$ 5,000,000
Reimbursable land development costs		2,800,000			2,800,000
Valuation allowance on deferred tax assets		6,300,000			$ 6,300,000
Computer hardware and software
Property, Plant and Equipment [Line Items]
Fixed asset useful life					3 years
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Fixed asset useful life					5 years
Vehicles
Property, Plant and Equipment [Line Items]
Fixed asset useful life					5 years
Heathersport
Property, Plant and Equipment [Line Items]
Impairment on real estate		$ 200,000			$ 192,000		0
Sundance
Property, Plant and Equipment [Line Items]
Impairment on real estate			$ 2,100,000		$ 2,397,000		$ 0
Number of land purchase contracts | lot	65		65
Minimum
Property, Plant and Equipment [Line Items]
Weighted average amortization period of intangible assets (duration)					6 months
Minimum | Leasehold Improvements
Property, Plant and Equipment [Line Items]
Fixed asset useful life					1 year
Maximum
Property, Plant and Equipment [Line Items]
Weighted average amortization period of intangible assets (duration)					5 years
Maximum | Computer hardware and software
Property, Plant and Equipment [Line Items]
Fixed asset useful life					5 years
Maximum | Leasehold Improvements
Property, Plant and Equipment [Line Items]
Fixed asset useful life					5 years
Affiliated Entity
Property, Plant and Equipment [Line Items]
Number of board members | director					2
Minimum voting interests required					25.00%
Right to cash savings on income tax					85.00%
UCP LLC
Property, Plant and Equipment [Line Items]
Economic interest percentage		43.10%			43.10%
Goodwill | Income Approach Valuation Technique
Property, Plant and Equipment [Line Items]
Term					10 years

Organization, Basis of Presen32

Organization, Basis of Presentation and Summary of Significant Accounting Policies - Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Customer deposits in escrow	$ 2,479	$ 1,834
Prepaid expenses	823	2,099
Other Deposits	1,281	466
Funds held in escrow	1,490	1,490
Other assets	330	0
Total	$ 6,403	$ 5,889

Organization, Basis of Presen33

Organization, Basis of Presentation and Summary of Significant Accounting Policies - Warranty Reserves (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Warranty reserves, beginning of period	$ 3,662	$ 2,149	$ 2,852	$ 1,509
Warranty reserves accrued	611	214	1,655	888
Warranty expenditures	(209)	(51)	(443)	(85)
Additional reserves where corresponding amounts are recorded as receivables from insurance carriers	1,118	0	1,118	0
Warranty reserves, end of period	$ 5,182	$ 2,312	$ 5,182	$ 2,312

Income or Loss Per Share - (Det

Income or Loss Per Share - (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Incremental common stock equivalents included in calculating diluted loss per share (shares)			0
Numerator
Net income (loss) attributable to UCP, Inc.	$ 1,285	$ 1,639	$ 2,087	$ (869)
Denominator
Weighted average shares of Class A common stock outstanding - basic (in shares)	7,948,268	7,995,934	7,993,371	7,950,700
Effect of dilutive securities:
Total shares for purpose of calculating diluted net income (loss) per share (in shares)	7,986,416	8,017,768	8,043,830	7,950,700
Earnings (loss) per share:
Net income (loss) per share of Class A common stock - basic ($ per share)	$ 0.16	$ 0.21	$ 0.26	$ (0.11)
Net income (loss) per share of Class A common stock - diluted ($ per share)	$ 0.16	$ 0.20	$ 0.26	$ (0.11)
RSUs
Effect of dilutive securities:
Incremental shares attributable to dilutive securities (in shares)	38,148	21,834	50,459	0

Income or Loss Per Share - Anti

Income or Loss Per Share - Anti-dilutive securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Anti-dilutive securities (in shares)	361,774	280,148	274,544	340,074

Real Estate Inventories - Real

Real Estate Inventories - Real Estate Inventory (Details) $ in Thousands	Sep. 30, 2016USD ($)lot	Dec. 31, 2015USD ($)lot
Real Estate [Abstract]
Deposits and pre-acquisition costs	$ 7,730	$ 3,836
Land held and land under development	133,386	128,059
Finished lots	113,555	117,335
Homes completed or under construction	102,606	89,866
Model homes	24,426	21,893
Total Inventory	381,703	360,989
Deposits on land purchase contracts	$ 7,700	$ 3,800
Number of land purchase contracts | lot	1,123	1,127
Aggregate land purchase contracts, net	$ 49,100	$ 80,100
Inventory held for sale	28,600	31,400
Under contract	$ 14,100	$ 11,600
Under contract	49.30%	36.90%
Unsold	$ 14,500	$ 19,800
Unsold	50.70%	63.10%

Real Estate Inventories - Inter

Real Estate Inventories - Interest Capitalization (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest expense capitalized as cost of home inventory	$ 2,573	$ 2,442	$ 7,748	$ 6,877
Interest expense capitalized as cost of land inventory	606	628	1,551	1,620
Total interest expense capitalized	3,179	3,070	9,299	8,497
Previously capitalized interest expense included in cost of sales - homebuilding	(1,990)	(1,443)	(5,319)	(3,367)
Previously capitalized interest expense included in cost of sales - land development	(224)	0	(370)	(49)
Net activity of capitalized interest	965	1,627	3,610	5,081
Capitalized interest expense in beginning inventory	15,919	10,753	13,274	7,299
Capitalized interest expense in ending inventory	$ 16,884	$ 12,380	$ 16,884	$ 12,380

Fixed Assets, Net - (Details)

Fixed Assets, Net - (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 2,989		$ 2,989		$ 2,871
Accumulated depreciation	(2,023)		(2,023)		(1,557)
Fixed assets, net	966		966		1,314
Depreciation	131	$ 151	466	$ 438
Computer hardware and software
Property, Plant and Equipment [Line Items]
Fixed assets, gross	2,018		2,018		1,954
Office furniture and equipment and leasehold improvements
Property, Plant and Equipment [Line Items]
Fixed assets, gross	888		888		834
Vehicles
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 83		$ 83		$ 83

Intangible Assets (Details)

Intangible Assets (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Business Acquisition [Line Items]
Exercise of land purchase options acquired with acquisition of business			$ 74,000	$ 160,000
Goodwill impairment	$ 4,223,000	$ 0	$ 4,223,000	0	$ 0
Citizens Homes, Inc.
Business Acquisition [Line Items]
Weighted average amortization period of intangible assets (duration)			5 years
Growth rate			4.50%
Citizens Homes, Inc. | Trademarks and trade names
Business Acquisition [Line Items]
Amortization of intangibles	8,500	8,500	$ 26,000	26,000
Citizens Homes, Inc. | Land options
Business Acquisition [Line Items]
Exercise of land purchase options acquired with acquisition of business	$ 40,000	$ 196,000	$ 74,000	$ 279,000
Income Approach Valuation Technique | Goodwill
Business Acquisition [Line Items]
Term			10 years
Discount rate			14.50%
Growth rate			2.00%

Intangible Assets - Intangible

Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Ending Balance	$ 122	$ 236
Citizens Homes, Inc.
Business Acquisition [Line Items]
Gross Carrying Amount	863	863
Accumulated Amortization (Used)	(741)	(627)
Ending Balance	122	236
Architectural plans | Citizens Homes, Inc.
Business Acquisition [Line Items]
Gross Carrying Amount	170	170
Accumulated Amortization (Used)	(86)	(60)
Ending Balance	84	110
Land options | Citizens Homes, Inc.
Business Acquisition [Line Items]
Gross Carrying Amount	583	583
Accumulated Amortization (Used)	(545)	(457)
Ending Balance	38	126
Trademarks and trade names | Citizens Homes, Inc.
Business Acquisition [Line Items]
Gross Carrying Amount	110	110
Accumulated Amortization (Used)	(110)	(110)
Ending Balance	$ 0	$ 0

Intangible Assets - Future Amor

Intangible Assets - Future Amortization Expense (Details) - Citizens Homes, Inc. $ in Thousands	Sep. 30, 2016USD ($)
Business Acquisition [Line Items]
2,016	$ 8
2,017	34
2,018	34
2,019	8
Total	$ 84

Intangible Assets - Rollforward

Intangible Assets - Rollforward (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Goodwill [Roll Forward]
Goodwill, beginning			$ 4,223,000	$ 4,223,000	$ 4,223,000
Goodwill impairment	$ (4,223,000)	$ 0	(4,223,000)	0	0
Goodwill, ending	$ 0	$ 4,223,000	$ 0	$ 4,223,000	$ 4,223,000

Accrued Liabilities - (Details)

Accrued Liabilities - (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Real estate development cost to complete	$ 9,694		$ 11,992
Accrued expenses	5,124		5,692
Warranty reserves	5,182	$ 3,662	2,852	$ 2,312	$ 2,149	$ 1,509
Contingent consideration	307		2,707
Accrued payroll liabilities	2,412		1,373
Total	$ 22,719		$ 24,616

Notes Payable and Senior Note44

Notes Payable and Senior Notes, net (Details) - USD ($)	Oct. 21, 2014	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Aggregate loan commitments		$ 228,200,000
Unused loan commitments		$ 69,600,000
Weighted average interest rate		6.48%	6.35%
Prime Rate
Debt Instrument [Line Items]
Basis spread		1.75%	1.75%
2017 Notes | 8.5% Senior Notes Due in 2017
Debt Instrument [Line Items]
Interest rate	8.50%
Face amount	$ 75,000,000
Proceeds from issuance of debt	$ 72,500,000
Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread		3.00%
Interest rate		3.00%
Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread		3.75%
Interest rate		3.75%

Notes Payable and Senior Note45

Notes Payable and Senior Notes, net - Long Term Debt (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total notes payable and senior notes	$ 158,665	$ 157,490
Total notes payable and senior notes, net	157,785	155,966
Debt issuance costs	(880)	(1,524)
Notes Payable
Debt Instrument [Line Items]
Total notes payable and senior notes	78,230	75,241
Notes Payable | LIBOR 3.75% through 2016
Debt Instrument [Line Items]
Total notes payable and senior notes	4,856	30,132
Notes Payable | PRIME 1.75% through 2016
Debt Instrument [Line Items]
Total notes payable and senior notes	0	717
Notes Payable | LIBOR 3.00% through 2016
Debt Instrument [Line Items]
Total notes payable and senior notes	0	4,832
Notes Payable | 10.00% through 2017
Debt Instrument [Line Items]
Total notes payable and senior notes	$ 1,604	1,604
Interest rate	10.00%
Notes Payable | 0.00% through 2017
Debt Instrument [Line Items]
Total notes payable and senior notes	$ 0	1,935
Interest rate	0.00%
Notes Payable | 8.00% through 2018
Debt Instrument [Line Items]
Total notes payable and senior notes	$ 4,000	4,000
Interest rate	8.00%
Construction Loans
Debt Instrument [Line Items]
Total notes payable and senior notes	$ 5,604	7,539
Construction Loans | LIBOR 3.50% through 2017
Debt Instrument [Line Items]
Total notes payable and senior notes	$ 5,256	9,785
Interest rate	3.50%
Construction Loans | 3.75% Through 2017
Debt Instrument [Line Items]
Total notes payable and senior notes	$ 35,661	21,732
Interest rate	3.75%
Construction Loans | 3.75% Through 2018
Debt Instrument [Line Items]
Total notes payable and senior notes	$ 23,086	1,120
Interest rate	3.75%
Construction Loans | 5.50% through 2016
Debt Instrument [Line Items]
Total notes payable and senior notes	$ 3,350	2,342
Interest rate	5.50%
Construction Loans | 5.00% through 2017
Debt Instrument [Line Items]
Total notes payable and senior notes	$ 6,021	4,581
Interest rate	5.00%
2017 Notes
Debt Instrument [Line Items]
Total notes payable and senior notes	$ 74,831	$ 74,710
Minimum | Notes Payable | LIBOR 3.75% through 2016
Debt Instrument [Line Items]
Interest rate	3.75%
Minimum | Notes Payable | PRIME 1.75% through 2016
Debt Instrument [Line Items]
Interest rate	1.75%
Minimum | Notes Payable | LIBOR 3.00% through 2016
Debt Instrument [Line Items]
Interest rate	3.00%
London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable rate basis	0.53111%
London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Interest rate	3.00%
Basis spread	3.00%
London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Interest rate	3.75%
Basis spread	3.75%
Prime Rate
Debt Instrument [Line Items]
Basis spread	1.75%	1.75%
Variable rate basis	3.50%

Notes Payable and Senior Note46

Notes Payable and Senior Notes, net - Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
2,016	$ 8,206
2,017	123,373
2,018	27,086
2019 and thereafter	0
Total	$ 158,665	$ 157,490

Fair Value Disclosures - (Detai

Fair Value Disclosures - (Details) - USD ($)	Jun. 30, 2016	Sep. 30, 2016	Jun. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt		$ 157,785,000			$ 157,785,000		$ 155,966,000
Long-term Debt, Gross		158,665,000			158,665,000		157,490,000
Business Combination, Contingent Consideration, Change [Roll Forward]
Beginning balance					2,707,000
Change in fair value					(2,400,000)	$ (818,000)
Ending balance		307,000			307,000		2,707,000
Impairment on real estate	$ 300,000	192,000		$ 0	2,589,000	0
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt		158,665,000			158,665,000		157,490,000
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt		167,376,000			167,376,000		166,769,000
Notes Payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Gross		78,230,000			78,230,000		75,241,000
Notes Payable | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt		83,834,000			83,834,000		82,780,000
Notes Payable | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt		86,671,000			86,671,000		84,712,000
2017 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Gross		74,831,000			74,831,000		74,710,000
2017 Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt							74,710,000
2017 Notes | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt		80,705,000			80,705,000		82,057,000
Citizens Homes, Inc.
Business Combination, Contingent Consideration, Change [Roll Forward]
Beginning balance					2,707,000	3,525,000	3,525,000
Ending balance		307,000		$ 2,707,000	$ 307,000	$ 2,707,000	2,707,000
Growth rate					4.50%
Cost inflation					1.50%
Heathersport
Business Combination, Contingent Consideration, Change [Roll Forward]
Real estate and development costs - Heathers at Westport project		1,066,000			$ 1,066,000		975,000
Impairment on real estate		200,000			192,000		0
Heathersport | Fair Value, Inputs, Level 3
Business Combination, Contingent Consideration, Change [Roll Forward]
Real estate and development costs - Heathers at Westport project		1,066,000			1,066,000		975,000
Sundance
Business Combination, Contingent Consideration, Change [Roll Forward]
Real estate and development costs - Heathers at Westport project		1,128,000			1,128,000		9,448,000
Impairment on real estate			$ 2,100,000		2,397,000		0
Sundance | Fair Value, Inputs, Level 3
Business Combination, Contingent Consideration, Change [Roll Forward]
Real estate and development costs - Heathers at Westport project		1,128,000			1,128,000		9,448,000
River Run
Business Combination, Contingent Consideration, Change [Roll Forward]
Real estate and development costs - Heathers at Westport project		3,300,000			3,300,000		5,960,000
Impairment on real estate					0		923,000
River Run | Fair Value, Inputs, Level 3
Business Combination, Contingent Consideration, Change [Roll Forward]
Real estate and development costs - Heathers at Westport project		$ 3,300,000			$ 3,300,000		$ 5,960,000

Equity - Noncontrolling interes

Equity - Noncontrolling interests (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Noncontrolling Interest [Line Items]
Voting interest not controlled by parent	43.10%		43.10%
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance of noncontrolling interest as of December 31, 2015			$ 127,208
Net income attributable to noncontrolling interest	$ 1,857	$ 2,167	3,109	$ (961)
Re-allocation of stock issuances			(1,909)
Distribution to noncontrolling interest			(4,830)	$ (981)
Ending balance of noncontrolling interest as of September 30, 2016	123,976		123,976
Parent Company
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance of noncontrolling interest as of December 31, 2015			127,208
Net income attributable to noncontrolling interest			3,109
Stock-based compensation attributable to noncontrolling interest			423
Stock issuance attributable to noncontrolling interest			(25)
Distribution to noncontrolling interest			(4,830)
Ending balance of noncontrolling interest as of September 30, 2016	$ 123,976		$ 123,976

Equity (Details)

Equity (Details) - USD ($)	4 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Dec. 31, 2015	Jun. 07, 2016
Class of Stock [Line Items]
Stock repurchased		$ 1,000,000
Authorized amount				$ 5,000,000
Remaining authorized amount	$ 4,000,000	4,000,000
Common Stock | Class A
Class of Stock [Line Items]
Repurchase of common stock (shares)	123,636		0
Treasury Stock
Class of Stock [Line Items]
Stock repurchased		$ 1,000,000

Equity - Stock-Based Comp. Narr

Equity - Stock-Based Comp. Narrative (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expired (in shares)				32,953
Unrecognized compensation costs	$ 2.4			$ 2.4
General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	$ 0.3		$ 0.3	0.7	$ 1.6
First anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting, percentage	25.00%	20.00%				10.00%
Second anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting, percentage	25.00%	20.00%				20.00%
Third anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting, percentage	25.00%	20.00%				30.00%
Fourth anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting, percentage	25.00%	20.00%				40.00%
Fifth Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting, percentage		20.00%
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs	$ 0.4			$ 0.4
Unrecognized compensation costs, period for recognition				1 year 4 months 24 days
Stock options | Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares that may be issued (in shares)	1,834,300			1,834,300
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs	$ 2			$ 2
Unrecognized compensation costs, period for recognition				3 years 6 months

Equity - Summary of share-based

Equity - Summary of share-based activity (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Options Activity: (in shares)
Beginning (in shares)	149,605
Options granted (in shares)	0
Options forfeited (in shares)	0
Options expired (in shares)	(32,953)
Ending (in shares)	116,652	149,605
Options Weighted Average Exercise Price
Outstanding ($ per share)	$ 16.20	$ 16.20
Options granted, weighted average exercise price (usd per share)	0
Options forfeited, weighted average exercise price (usd per share)	$ 0
Weighted Average Remaining Contractual Term (in years)	7 years 4 months 24 days	8 years 2 months 12 days
Vested and exercisable (shares)	34,996
Vested and exercisable ($ per share)	$ 16.20
Expected to vest (shares)	108,486
Share Price (in dollars per share)	$ 8.81
RSUs
RSUs Shares Activity: (in shares)
Beginning (in shares)	48,531
Granted (in shares)	271,635
Vested (in shares)	(27,850)
Forfeited (in shares)	0
Ending (in shares)	292,316	48,531
Weighted Average Grant Date Fair Value (per share)
Outstanding and unvested ($ in shares)	$ 8.85	$ 15.99
Granted ($ in shares)	8.04
Vested ($ in shares)	$ 13.42

Segment Information - (Details)

Segment Information - (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)segment	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment			2
Segment Reporting Information [Line Items]
Revenues	$ 93,740,000	$ 73,672,000	$ 244,802,000	$ 171,921,000
Gross Margin	16,730,000	13,992,000	42,133,000	30,550,000
Sales and marketing	4,853,000	4,692,000	13,595,000	13,246,000
General and administrative	4,592,000	5,539,000	19,101,000	19,311,000
Goodwill impairment	4,223,000	0	4,223,000	0	$ 0
Income (loss) from operations	3,062,000	3,761,000	5,214,000	(2,007,000)
Other income, net	204,000	45,000	253,000	177,000
Net income (loss) before income taxes	3,266,000	3,806,000	5,467,000	(1,830,000)
Provision for income taxes	(124,000)	0	(271,000)	0
Net income (loss)	3,142,000	3,806,000	5,196,000	(1,830,000)
Assets	422,192,000		422,192,000		414,697,000
Homebuilding
Segment Reporting Information [Line Items]
Revenues	89,840,000	70,284,000	239,480,000	163,705,000
Gross Margin	16,664,000	13,278,000	43,462,000	28,961,000
Assets	287,072,000		287,072,000		281,088,000
Land development
Segment Reporting Information [Line Items]
Revenues	3,900,000	1,116,000	5,322,000	3,156,000
Gross Margin	66,000	400,000	(1,329,000)	892,000
Assets	94,631,000		94,631,000		79,901,000
Other
Segment Reporting Information [Line Items]
Revenues	0	2,272,000	0	5,060,000
Gross Margin	0	314,000	0	697,000
Assets	40,489,000		40,489,000		53,708,000
West | Homebuilding
Segment Reporting Information [Line Items]
Revenues	79,500,000	51,464,000	204,273,000	120,438,000
Gross Margin	15,129,000	10,477,000	38,149,000	22,589,000
Assets	232,904,000		232,904,000		231,624,000
West | Land development
Segment Reporting Information [Line Items]
Revenues	3,900,000	1,116,000	5,322,000	3,156,000
Gross Margin	66,000	400,000	(940,000)	892,000
Assets	94,631,000		94,631,000		79,901,000
Southeast | Homebuilding
Segment Reporting Information [Line Items]
Revenues	10,340,000	18,820,000	35,207,000	43,267,000
Gross Margin	1,535,000	2,801,000	5,313,000	6,372,000
Assets	54,168,000		54,168,000		49,464,000
Southeast | Land development
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Gross Margin	0	$ 0	(389,000)	$ 0
Assets	$ 0		$ 0		$ 0

Commitments and Contingencies -

Commitments and Contingencies - (Details)	Apr. 10, 2014USD ($)	Sep. 30, 2016USD ($)lot	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)lot	Sep. 30, 2015USD ($)	Sep. 09, 2016USD ($)lot	Dec. 31, 2015USD ($)lot	Dec. 31, 2014USD ($)
Loss Contingencies [Line Items]
Number of land purchase contracts | lot		1,123		1,123			1,127
Deposits on land purchase contracts		$ 7,700,000		$ 7,700,000			$ 3,800,000
Reimbursable land development costs		2,800,000		2,800,000
Aggregate land purchase contracts, net		49,100,000		49,100,000			80,100,000
Rent expense		300,000	$ 300,000	1,000,000	$ 900,000
Contingent consideration		307,000		307,000			2,707,000
Citizens Homes, Inc.
Loss Contingencies [Line Items]
Contingent consideration	$ 6,000,000
Performance period	5 years
Low range	$ 0
Contingent consideration		307,000	$ 2,707,000	307,000	$ 2,707,000		2,707,000	$ 3,525,000
Surety Bond
Loss Contingencies [Line Items]
Surety bonds		39,600,000		39,600,000			$ 37,100,000
Hearthstone
Loss Contingencies [Line Items]
Number of land purchase contracts | lot						241
Deposits on land purchase contracts						$ 6,100,000
U.S. Fish And Wildlife Service | Washington
Loss Contingencies [Line Items]
Estimate of additional land purchase cost		$ 955,000		$ 955,000

Commitments and Contingencies54

Commitments and Contingencies - Future Minimum Payments, Operating Leases (Details) $ in Thousands	Sep. 30, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 256
2,017	1,029
2,018	937
2,019	413
2,020	213
Thereafter	18
Total	$ 2,866

Commitments and Contingencies55

Commitments and Contingencies - Value of Consideration Transferred (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Business Combination, Contingent Consideration, Change [Roll Forward]
Beginning balance	$ 2,707
Change in fair value	(2,400)	$ (818)
Ending balance	307
Citizens Homes, Inc.
Business Combination, Contingent Consideration, Change [Roll Forward]
Beginning balance	2,707	3,525
Ending balance	$ 307	$ 2,707

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 124	$ 0	$ 271	$ 0