UCP (UCP) 10-K 3 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Mar. 01, 2017	Jun. 30, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	UCP, Inc.
Entity Central Index Key	1,572,684
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		7,958,314
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Entity Public Float			$ 59.8

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 40,931	$ 39,829
Restricted cash	1,547	900
Real estate inventories	373,207	360,989
Fixed assets, net	883	1,314
Intangible assets, net	101	236
Goodwill	0	4,223
Receivables	5,628	1,317
Deferred tax assets, net	5,482	0
Other assets	6,327	5,889
Total assets	434,106	414,697
Liabilities and equity
Accounts payable	18,435	14,882
Accrued liabilities	25,342	24,616
Customer deposits	2,449	1,825
Notes payable, net	86,658	82,486
Senior notes, net	74,336	73,480
Total liabilities	207,220	197,289
Commitments and contingencies (Note 13)
Equity
Preferred stock, par value $0.01 per share, 50,000,000 authorized, no shares issued and outstanding at December 31, 2016; no shares issued and outstanding at December 31, 2015	0	0
Additional paid-in capital	97,123	94,683
Treasury stock at cost; 146,346 shares as of December 31, 2016; none as of December 31, 2015	(1,250)	0
Accumulated earnings (deficit)	4,675	(4,563)
Total UCP, Inc. stockholders’ equity	100,628	90,200
Noncontrolling interest	126,258	127,208
Total equity	226,886	217,408
Total liabilities and equity	434,106	414,697
Class A
Equity
Common stock	80	80
Class B
Equity
Common stock	$ 0	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 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	146,346	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	8,042,834	8,014,434
Common stock, shares outstanding	7,896,488	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

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income or Loss - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
REVENUE:
Homebuilding	$ 343,919,000	$ 252,597,000	$ 155,417,000
Land development	5,449,000	21,134,000	32,513,000
Other revenue	0	5,060,000	3,253,000
Total revenue	349,368,000	278,791,000	191,183,000
COSTS AND EXPENSES:
Cost of sales - homebuilding	280,614,000	206,747,000	129,577,000
Cost of sales - land development	4,637,000	15,291,000	25,466,000
Cost of sales - other revenue	0	4,363,000	2,828,000
Impairment on real estate	2,589,000	923,000	0
Total cost of sales	287,840,000	227,324,000	157,871,000
Gross margin - homebuilding	63,305,000	45,850,000	25,840,000
Gross margin - land development	812,000	5,843,000	7,047,000
Gross margin - other revenue	0	697,000	425,000
Gross margin - impairment on real estate	(2,589,000)	(923,000)	0
Total gross margin	61,528,000	51,467,000	33,312,000
Sales and marketing	19,257,000	18,943,000	13,748,000
General and administrative	29,161,000	26,878,000	27,406,000
Goodwill impairment	4,223,000	0	0
Total expenses	52,641,000	45,821,000	41,154,000
Income (loss) from operations	8,887,000	5,646,000	(7,842,000)
Other income, net	276,000	206,000	121,000
Net income (loss) before income taxes	9,163,000	5,852,000	(7,721,000)
Benefit (provision) for income taxes	5,285,000	(69,000)	0
Net income (loss)	14,448,000	5,783,000	(7,721,000)
Net income (loss) attributable to noncontrolling interest	5,210,000	3,412,000	(2,728,000)
Net income (loss) attributable to UCP, Inc.	9,238,000	2,371,000	(4,993,000)
Other comprehensive income (loss), net of tax	0	0	0
Comprehensive income (loss)	14,448,000	5,783,000	(7,721,000)
Comprehensive income (loss) attributable to noncontrolling interest	5,210,000	3,412,000	(2,728,000)
Comprehensive income (loss) attributable to UCP, Inc.	$ 9,238,000	$ 2,371,000	$ (4,993,000)
Earnings (loss) per share of Class A common stock:
Basic ($ per share)	$ 1.16	$ 0.30	$ (0.63)
Diluted ($ per share)	$ 1.15	$ 0.30	$ (0.63)
Weighted average shares of Class A common stock:
Basic (shares)	7,969,028	7,966,765	7,870,269
Diluted (shares)	8,064,728	7,973,488	7,870,269
Class A
Earnings (loss) per share of Class A common stock:
Basic ($ per share)	$ 1.16	$ 0.30	$ (0.63)

Consolidated Statements of Equi

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 (in shares) at Dec. 31, 2013				7,750,000	100
Beginning balance at Dec. 31, 2013	$ 217,716			$ 78	$ 0	$ 93,117	$ 0	$ (1,941)	$ 126,462
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issuance (in shares)				172,216
Stock issuance	(1,619)			$ 1		(819)			(801)
Stock-based compensation expense	3,565					1,812			1,753
Distribution to noncontrolling interest	(674)								(674)
Net income (loss)	(7,721)							(4,993)	(2,728)
Ending balance (in shares) at Dec. 31, 2014				7,922,216	100
Ending balance at Dec. 31, 2014	211,267			$ 79	$ 0	94,110	0	(6,934)	124,012
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issuance (in shares)				92,218
Stock issuance	(370)			$ 1		(160)			(211)
Repurchase of common stock (in shares)				0
Stock-based compensation expense	1,710					733			977
Distribution to noncontrolling interest	(982)								(982)
Net income (loss)	5,783							2,371	3,412
Ending balance (in shares) at Dec. 31, 2015		8,014,434	100	8,014,434	100
Ending balance at Dec. 31, 2015	217,408			$ 80	$ 0	94,683	0	(4,563)	127,208
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issuance (in shares)				28,400	100
Stock issuance	(45)			$ 0		(20)			(25)
Repurchase of common stock (in shares)				(146,346)
Repurchase of common stock	(1,250)						(1,250)
Re-allocation from stock issuances	0					1,962			(1,962)
Stock-based compensation expense	1,155					498			657
Distribution to noncontrolling interest	(4,830)								(4,830)
Net income (loss)	14,448							9,238	5,210
Ending balance (in shares) at Dec. 31, 2016		7,896,488	100	7,896,488	100
Ending balance at Dec. 31, 2016	$ 226,886			$ 80	$ 0	$ 97,123	$ (1,250)	$ 4,675	$ 126,258

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating activities
Net income (loss)	$ 14,448,000	$ 5,783,000	$ (7,721,000)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Stock-based compensation	1,155,000	1,710,000	3,565,000
Abandonment charges	523,000	152,000	173,000
Impairment on real estate inventories	2,589,000	923,000	0
Depreciation and amortization	631,000	622,000	599,000
Goodwill impairment	4,223,000	0	0
Fair value adjustment of contingent consideration	(2,347,000)	(818,000)	(377,000)
Deferred income taxes, net	(5,482,000)	0	0
Changes in operating assets and liabilities:
Real estate inventories	(14,200,000)	(38,476,000)	(131,045,000)
Receivables	(4,311,000)	(26,000)	(444,000)
Other assets	(50,000)	(2,362,000)	(2,293,000)
Accounts payable	3,553,000	12,907,000	1,383,000
Accrued liabilities	3,220,000	(2,921,000)	5,638,000
Customer deposits	624,000	1,351,000	24,000
Income taxes payable	(147,000)	69,000	0
Net cash provided by (used in) operating activities	4,429,000	(21,086,000)	(130,498,000)
Investing activities
Purchases of fixed assets	(166,000)	(330,000)	(1,004,000)
Citizens acquisition	0	0	(14,006,000)
Restricted cash	(647,000)	(650,000)	(250,000)
Net cash used in investing activities	(813,000)	(980,000)	(15,260,000)
Financing activities
Distribution to noncontrolling interest	(4,830,000)	(982,000)	(674,000)
Proceeds from notes payable	154,315,000	134,470,000	78,313,000
Proceeds from senior notes, net of discount	0	0	74,550,000
Repayment of notes payable	(150,077,000)	(112,430,000)	(48,362,000)
Debt issuance costs	(627,000)	(826,000)	(1,920,000)
Repurchase of common stock	(1,250,000)	0	0
Withholding taxes paid for vested RSUs	(45,000)	(370,000)	(1,619,000)
Net cash (used in) provided by financing activities	(2,514,000)	19,862,000	100,288,000
Net decrease in cash and cash equivalents	1,102,000	(2,204,000)	(45,470,000)
Cash and cash equivalents – beginning of period	39,829,000	42,033,000	87,503,000
Cash and cash equivalents – end of period	40,931,000	39,829,000	42,033,000
Exercise of land purchase options acquired with acquisition of business	86,000	196,000	141,000
Issuance of Class A common stock for vested restricted stock units	262,000	1,050,000	3,999,000
Fair value of assets acquired from the acquisition of business	0	0	19,418,000
Cash paid for the acquisition of business	0	0	(14,006,000)
Contingent consideration and liabilities assumed from the acquisition of business	0	0	5,412,000
Supplemental cash flow information
Income taxes paid	344,000	0	0
Accrued offering and debt issuance costs	$ 0	$ 0	$ 473,000

Description of Business and Nat

Description of Business and Nature of Operations	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Nature of Operations	DESCRIPTION OF BUSINESS AND NATURE OF OPERATIONS 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. Company’s Business: 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. The Company's homebuilding and land development operations are each segmented into two geographic regions, West and Southeast. We operate in the states of California, Washington, North Carolina, South Carolina and Tennessee. Company’s History The Company’s operations began in 2004 , and principally focused on acquiring land, entitling and developing it for residential construction, and selling residential lots to third-party homebuilders. In January 2008 , the Company’s business was acquired by PICO Holdings, Inc. (“PICO”), a NASDAQ -listed, diversified holding company, which allowed the Company to accelerate the development of its business and gain access to a capital partner capable of funding its growth. In 2010 , the Company formed Benchmark Communities, LLC, its wholly owned homebuilding subsidiary, to design, construct and sell high quality single-family homes. The Company completed its IPO on July 23, 2013 and purchased a 42.3% economic interest in UCP, LLC with the net proceeds. On April 10, 2014 , the Company completed the acquisition of the assets and liabilities of Citizens Homes, Inc. ("Citizens"), used in the purchase of real estate and the construction and marketing of residential homes in North Carolina, South Carolina and Tennessee (the "Citizens Acquisition"), in order to expand its operations into markets located in those states. Company’s Reorganization and the IPO UCP, Inc. was incorporated in the State of Delaware on May 7, 2013 as a wholly-owned subsidiary of PICO for the purpose of facilitating the IPO and to become a holding company owning, as its principal asset, membership interests in UCP, LLC. UCP, LLC is a holding company for the entities that directly or indirectly own and operate the Company’s business. The net proceeds of $105.5 million from the IPO were used by UCP, Inc. for acquiring the 42.3% ownership in UCP, LLC. Upon completion of the IPO, UCP, Inc. issued 7,750,000 shares of Class A common stock (par value $0.01 per share) at a public offering price of $15.00 per share and received net proceeds of $105.5 million after deducting the underwriting discount and other offering costs. UCP, Inc. invested these net proceeds into UCP, LLC and acquired UCP, LLC’s newly-issued Series B Units, which represented a 42.3% economic interest in UCP, LLC; PICO, through its ownership of UCP, LLC Series A Units, retained the remaining 57.7% economic interest in UCP, LLC. In connection with the IPO, UCP, LLC's Amended and Restated Limited Liability Company Operating Agreement (the "Operating Agreement") was amended and restated to, among other things, designate UCP, Inc. as the sole managing member of UCP, LLC and establish a new series of units (“UCP, LLC Series B Units”), which are held solely by UCP, Inc., and reclassify PICO's units into 10,593,000 UCP, LLC Series A Units (the “UCP, LLC Series A Units”), which are held solely by PICO (and its permitted transferees). UCP, Inc. purchased 7,750,000 UCP, LLC Series B Units through its investment in UCP, LLC with the net proceeds from the IPO. The UCP, LLC Series B Units rank on parity with the UCP, LLC Series A Units as to distribution rights and rights upon liquidation, winding up or dissolution. Subsequent to the IPO and related transactions, as the sole managing member of UCP, LLC, UCP, Inc. operates and controls all of the business and affairs and consolidates the financial results of UCP, LLC and its subsidiaries. Tax Distribution Pursuant to the Operating Agreement, UCP, Inc. has the right to determine when distributions (other than tax distributions) will be made to the members of UCP, LLC and the amount of any such distributions. If UCP, Inc. authorizes a distribution, such distribution generally will be made to the members of UCP, LLC pro rata in accordance with their respective percentage interests. During the years ended December 31, 2016 and December 31, 2015 , UCP, LLC made distributions of $4.8 million and $1.0 million , respectively, to PICO toward its tax liability as required by the Operating Agreement and a pro rata distribution of $3.7 million and $0.7 million , respectively , to UCP, Inc. There were no other distributions by UCP, LLC for the year ended December 31, 2016 . The amended and restated certificate of incorporation of UCP, Inc. authorizes two classes of common stock: Class A common stock and Class B common stock, par value $0.01 per share (“Class B common stock”). Shares of Class A common stock represent 100% of the economic rights of the holders of all classes of UCP, Inc.'s common stock. Shares of Class B common stock, which are held exclusively by PICO, are not entitled to any dividends paid by, or rights upon liquidation of, UCP, Inc. PICO holds 100 shares of Class B common stock of UCP, Inc., providing PICO with no economic rights but entitling PICO, without regard to the number of shares of Class B common stock held by PICO, to one vote on matters presented to stockholders of UCP, Inc. for each UCP, LLC Series A Unit (as defined below) held by PICO. Holders of the Company’s Class A common stock and Class B common stock will vote together as a single class on all matters presented to the Company’s stockholders for their vote or approval, except as otherwise required by applicable law. As of December 31, 2016 , PICO held 10,593,000 UCP, LLC Series A Units and 100 shares of Class B common stock, which provided PICO with 56.8% of the aggregate voting power of UCP, Inc.'s outstanding Class A common stock and Class B common stock, which equals PICO’s economic interest in the Company. PICO effectively has control over the outcome of votes on all matters requiring approval by the Company’s stockholders. The Company's charter provides that its board of directors has the authority, without action by the stockholders, to designate and issue up to 50,000,000 shares of preferred stock in one or more classes or series and to fix for each class or series the powers, rights, preferences and privileges of each series of preferred stock, including dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences and the number of shares constituting any class or series, which may be greater than the rights of the holders of the Class A common stock or Class B common stock. Exchange Agreement In connection with the IPO, UCP, Inc. entered into an Exchange Agreement dated July 23, 2013 by and among UCP, Inc., UCP, LLC and PICO (the "Exchange Agreement"), pursuant to which PICO (and its permitted transferees) have the right to cause UCP, Inc. to exchange PICO's UCP, LLC Series A Units for shares of UCP, Inc. Class A common stock on a one-for-one basis, subject to equitable adjustments for stock splits, stock dividends, stock repurchases and reclassifications. As of December 31, 2016 , giving effect to the Class A common stock that the Company would issue if PICO were to elect to exchange all of its UCP, LLC Series A Units for shares of Class A common stock, the Company would have 18,635,834 shares of Class A common stock outstanding. Any UCP, LLC Series A Units being exchanged will be reclassified as UCP, LLC Series B Units in connection with such exchange. In addition, in connection with and subsequent to the IPO, the Company issued an aggregate of 430,333 restricted stock units ("RSUs") in 2013, 66,561 in 2014, 1,237 in 2015, and 271,635 in 2016 to the members of its board of directors, executive officers and other employees. Additionally, no stock options ("Options") were awarded in 2016 and 71,429 and 166,081 Options were awarded in 2015 and 2014 , respectively. These RSUs and Options vest at various points in time through 2018 . The Company issues Class A common stock on a one-for-one basis in connection with the vesting of each RSU or exercise of an Option. Any UCP, LLC Series A Units being exchanged will be reclassified as UCP, LLC Series B Units in connection with such exchange. Exchanges by PICO of its UCP, LLC Series A Units for shares of UCP, Inc. Class A common stock are expected to result, with respect to UCP, Inc., in increases in the tax basis of the assets of UCP, LLC that otherwise would not have been available. These increases in tax basis may reduce the amount of tax that UCP, Inc. would otherwise be required to pay in the future. These increases in tax basis may also decrease gains (or increase losses) on future dispositions of certain assets to the extent tax basis is allocated to those assets. Tax Receivable Agreement UCP, Inc., UCP, LLC and PICO are party to a Tax Receivable Agreement dated July 23, 2013 (the "TRA"). When PICO sells or exchanges its UCP, LLC Series A Units for shares of the Company’s Class A common stock, such a sale or exchange by PICO would result in an adjustment to the tax basis of the assets owned by UCP, LLC at the time of an exchange. An increase in tax basis is expected to increase the Company's depreciation and amortization income tax deductions and create other tax benefits and therefore may reduce the amount of income tax that the Company would otherwise be required to pay in the future. Under the TRA, the Company generally is required to pay to PICO 85% of the applicable cash savings in U.S. federal and state income tax that the Company actually realizes (or is deemed to realize in certain circumstances) as a result of sales or exchanges of the UCP, LLC Series A Units held by PICO for shares of Class A common stock, leaving the Company with 15% of the benefits of the tax savings. Cash savings in income tax will be computed by comparing the Company’s actual income tax liability to the amount of income taxes that the Company would have been required to pay had there been no increase in the tax basis of the tangible and intangible assets of UCP, LLC as a result of the exchanges. If the Company would not have reported taxable income in a given year had there been no increase in the tax basis of assets as a result of the exchanges, no payment under the TRA for that taxable year is required because no tax savings will have been realized. As of December 31, 2016 , PICO has not exchanged any of its UCP, LLC Series A Units. Estimating the amount of future payments to be made under the TRA cannot be done reliably at this time because any increase in tax basis, as well as the amount and timing of any payments, will vary depending on a number of factors, including: • the timing of any exchanges of UCP, LLC Series A Units for shares of the Company’s Class A common stock by PICO, as the increase in any tax deductions will vary depending on the allocation of fair market value to the assets of UCP, LLC at the time of any such exchanges, and this value allocation may fluctuate over time; • the price of the Company’s Class A common stock at the time of any exchanges of UCP, LLC Series A Units for shares of the Company’s Class A common stock (since the increase in the Company’s share of the basis in the assets of UCP, LLC, as well as the corresponding increase in any tax deductions, will be related to the price of the Company’s Class A common stock at the time of any such exchanges); • the tax rates in effect at the time the Company uses the increased amortization and depreciation deductions or realize other tax benefits; and • the amount, character and timing of the Company’s taxable income. The effects of the TRA on the Company’s consolidated balance sheet if PICO elects to exchange all or a portion of its UCP, LLC Series A Units for the Company’s Class A common stock are expected to be as follows: • an increase in deferred tax assets for the estimated income tax effects of the increase in the tax basis of the assets owned by UCP, LLC based on enacted federal, state and local income tax rates at the date of the relevant transaction. To the extent the Company believes that it is more likely than not that the Company will not realize the full tax benefit represented by the deferred tax asset, the Company will reduce the deferred tax asset with a valuation allowance; • the Company may record 85% of the applicable cash tax savings in U.S. federal and state income taxes resulting from the increase in the tax basis of the UCP, LLC Series A Units and certain other tax benefits related to entering into the TRA, including tax benefits attributable to payments under the TRA as an increase in a payable due to PICO; and • an increase to additional paid-in capital equal to the difference between the increase in deferred tax assets and the increase in the liability due to PICO. The Company has the right to terminate the TRA at any time. In addition, the TRA will terminate early if the Company breaches obligations under the TRA or upon certain mergers, asset sales, other forms of business combinations or other changes of control. In either case, the Company’s payment obligations under the TRA would be accelerated and would become due and payable based on certain assumptions, including that (a) all the UCP, LLC Series A Units are deemed exchanged for their fair value, (b) the Company would have sufficient taxable income to fully utilize the deductions arising from the increased tax deductions and tax basis and (c) the subsidiaries of UCP, LLC will sell certain non-amortizable assets (and realize certain related tax benefits) no later than a specified date. In each of these instances, the Company would be required to make an immediate payment to PICO equal to the present value of the anticipated future tax benefits (discounted over the applicable amortization and depreciation periods for the assets the tax bases of which are stepped up (which could be as long as fifteen years in respect of intangibles and goodwill) at a discount rate equal to the 30-day London Interbank Offered Rate ("LIBOR") plus 100 basis points). The benefits would be payable even though, in certain circumstances, no UCP, LLC Series A Units are actually exchanged at the time of the accelerated payment under the TRA, thereby resulting in no corresponding tax basis step up at the time of such accelerated payment under the TRA. Investor Rights Agreement and Transition Services Agreement Pursuant to an Investor Rights Agreement dated July 23, 2013 (the "Investor Rights Agreement"), PICO has the right to nominate two individuals for election to UCP, Inc.'s board of directors for as long as PICO owns 25% or more of the combined voting power of UCP, Inc.'s outstanding Class A and Class B common stock and one individual for as long as it owns at least 10% (in each case, excluding shares of any of UCP, Inc.'s common stock that are subject to issuance upon the exercise or exchange of rights of conversion or any options, warrants or other rights to acquire shares). However, the Investor Rights Agreement does not entitle PICO to nominate individuals for election to UCP, Inc.'s board of directors if their election would result in PICO nominees comprising more than two of UCP, Inc.'s directors (for as long as PICO owns 25% or more of the combined voting power of UCP, Inc.'s outstanding Class A and Class B common stock) or one of UCP, Inc.'s directors (for as long as PICO owns at least 10% of the combined voting power of UCP, Inc.'s outstanding Class A and Class B common stock). UCP also entered into a Transition Services Agreement ("TSA"), dated July 23, 2013 with PICO, pursuant to which PICO provided UCP, Inc. with certain accounting, human resources and information technology services. This agreement was completed on July 31, 2015, and PICO no longer provides such services to UCP, Inc.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned, majority-owned and controlled subsidiaries, and have been prepared in accordance with the accounting principles generally accepted in the United States of America ("GAAP"). All intercompany accounts have been eliminated upon consolidation. 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 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 IPO, although a variety of circumstances could cause it to lose that status earlier. Use of Estimates in Preparation of Financial Statements: The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the disclosure and reported amounts of assets and liabilities reported in the consolidated financial statements and accompanying notes. Significant estimates relate to the assessment of real estate impairments, valuation of assets and liabilities acquired, cost capitalization, accrued obligations, warranty reserves, income taxes and contingent liabilities. While management believes that the carrying value of such assets and liabilities are appropriate as of December 31, 2016 and 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 December 31, 2016 , PICO holds an economic and voting interest in our Company equal to approximately 56.8% . 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 TRA (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), 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 and a TSA (pursuant to which PICO provides certain administrative support services to UCP, Inc.). On July 31, 2015, the Company fully transitioned the services under the TSA, therefore, the balance due to PICO pursuant to the TSA and expense allocations of other amounts payable due to PICO was approximately zero for both years ended December 31, 2016 and 2015 . For the years ended December 31, 2015 and 2014 , the Company incurred $119,000 and $615,000 for services under the TSA. Segment Reporting: The Company has segmented its operating activities into two operating segments, West and Southeast, and two reportable segments, Homebuilding and Land development. In accordance with the applicable accounting guidance, the Company considered similar economic and other characteristics, including geography, product types, average selling prices, gross margins, production processes, suppliers, subcontractors, regulatory environments, land acquisition results and underlying supply and demand in determining its reportable segments. 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 include highly liquid instruments purchased with original maturities of three months or less. The Company has approximately $15.1 million of cash held in money market accounts on its consolidated balance sheets as of December 31, 2016 . Cash items that are restricted as to withdrawal or usage included deposits of $1.5 million and $0.9 million for the years ended December 31, 2016 and 2015 , respectively. For both periods, restricted cash items related to a construction loan, credit card agreements and a contractor's license. The year ended December 31, 2016 includes restricted cash related to a letter of credit. 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. To the extent the Company's debt exceeds the cost of the related qualifying asset under development, the Company expenses that portion of the interest incurred. Qualifying assets include projects that are actively under construction or under development. Advertising Expenses: The Company expenses advertising costs as incurred. Advertising expenses for the years ended December 31, 2016 and 2015 was $2.3 million for both periods and $2.0 million for the year ended December 31, 2014 . 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 ("G&A") expenses, 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 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 year ended December 31, 2016 , approximately $2.6 million of impairment losses were recorded. Approximately $2.4 million of impairment losses were recorded with respect to the Company’s real estate inventories at Sundance, located in Bakersfield, California ("Sundance"). The 65 lots remaining at the Sundance project were under contract for sale and resulted in an impairment loss of $2.1 million , as the carrying value of these lots was written down to the contractual sales price less costs to sell. In addition, homes under construction and completed homes at the Sundance project had a carrying value that exceeded their estimated undiscounted cash flows during the year ended December 31, 2016 . As a result, the carrying values of those remaining lots not currently under contract at Sundance were adjusted to their estimated fair values resulting in an impairment loss of approximately $0.3 million . Furthermore, approximately $0.2 million of impairment loss was recorded during the year ended December 31, 2016 with respect to the Company’s real estate inventories at Heathers at Westport, located in Charlotte, North Carolina ("Heathers at Westport"). 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. For the year ended December 31, 2015 , approximately $0.9 million of impairment loss was recorded t o homebuilding real estate inventory at the River Run project, located in Bakersfield, California ("River Run") to adjust its carrying value to its estimated fair value as of the date of the impairment. For the year ended December 31, 2014 , no such real estate impairment loss was recorded. See Note 9 , “Fair Value Disclosures--Non-Financial Instruments Carried at Fair Value--Non-Recurring Estimated Fair Value of Real Estate Inventories” to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further discussion of the impairment of the real estate assets. Abandonment charges during the years ended December 31, 2016 , 2015 and 2014 , were $523,000 , $152,000 , and $173,000 , respectively. Abandonment charges are included in cost of sales in the accompanying 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 related 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 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 year ended December 31, 2016 related to its Southeast operating segment. For the years ended December 31, 2015 and 2014 , there was no impairment of goodwill. See Note 6 , “Intangible Assets--Goodwill” to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for 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 G&A expenses in the accompanying consolidated statements of operations and comprehensive income or loss. Receivables: The detail of receivables is set forth below (in thousands): December 31, 2016 December 31, 2015 Warranty insurance receivables $ 1,118 $ — Manufacturer rebates 454 425 Reimbursement for land development work 4,016 — Other receivables 40 892 Total $ 5,628 $ 1,317 Receivables include amounts recoverable from warranty insurance, amounts due from utility companies for reimbursement of costs, manufacturer rebates and reimbursable land development costs under a fixed price contract. As of December 31, 2016 , approximately $1.1 million of estimated recoverable from warranty insurance was included in receivables. In addition, approximately $4.0 million of reimbursable land development costs under an option and development agreement executed during the year ended December 31, 2016 was recorded as a receivable. As of December 31, 2016 , and 2015 , the Company had no allowance for doubtful accounts recorded. Other Assets: The detail of other assets is set forth below (in thousands): December 31, 2016 December 31, 2015 Customer deposits in escrow $ 2,394 $ 1,834 Prepaid expenses 1,098 2,099 Other deposits and prepaid interest 1,345 466 Funds held in escrow 1,490 1,490 Total $ 6,327 $ 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 consolidated balance sheets. See Note 8 , “Notes Payable and Senior Notes, net” to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for a further discussion of the change in accounting principle. Homebuilding, Land Development Sales and Other Revenues 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 any 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 Company entered into “cost plus fee” contracts where property owners were charged for all direct and indirect costs plus a negotiated management fee. In accordance with ASC Topic 605 - Revenue Recognition , revenues from construction management services are recognized based upon a cost-to-cost approach in applying the percentage-of-completion method. Under this approach, revenue is earned in proportion to total costs incurred, divided by total costs expected to be incurred. The total estimated cost plus the management fee represents the total contract value. The Company recognized revenue based on the actual costs incurred, plus the portion of the management fee it has earned to date. In the course of providing construction management services, the Company routinely subcontracts for services and incurs other direct costs on behalf of the property owners. The business was acquired in connection with the Citizens Acquisition in 2014 and was sold during 2015. We no longer provide construction management services to third parties. Revenue and costs from providing these services for the year ended December 31, 2015 is included in other revenue and cost of sales-other revenue in the accompanying 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 awards vest in accordance with applicable guidance under ASC 718 - Compensation - Stock Compensation. See Note 10 , "Equity--Stock-Based Compensation" to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further discussion on stock-based compensation. Stock Repurchase Program: Our Board of Directors authorized the Stock Repurchase Program on June 6, 2016 to repurchase up to $5.0 million of the Company’s Class A common stock between June 7, 2016 and June 1, 2018. 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 ("EPS"). See Note 10 , “Equity--Stock Repurchase Program” to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for additional information regarding the Stock Repurchase Program. 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. 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. Annually, or more frequently as needed, the Company engages a third-party actuary 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 consolidated balance sheets. Changes in warranty reserves are detailed in the table set forth below (in thousands): December 31, 2016 December 31, 2015 Warranty reserves, beginning of period $ 2,852 $ 1,509 Warranty reserves accrued 2,377 1,507 Warranty expenditures (705 ) (164 ) Additional reserves where corresponding amounts are recorded as receivables from insurance carriers 1,118 — Warranty reserves, end of period $ 5,642 $ 2,852 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. The Company adopted the provisions of ASU 2015-02 as of January 1, 2016. In accordance with ASC Topic 810, " Consolidation ," the Company assesses each purchase agreement to acquire real estate from an entity to determine if a variable interest entity ("VIE") may be created. Although the Company may not have legal title to the underlying land, if the Company determines that it is the primary beneficiary of the VIE, the Company would consolidate the VIE in its accompanying consolidated financial statements and reflect such assets and liabilities as “Real estate inventories not owned.” In determining if the Company is the primary beneficiary, the Company considers, among other things, 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 or scope of the VIE; the ability to control financing decisions for the VIE; and the ability to acquire or dispose of property owned or controlled by the VIE. Based on the current provisions of the relevant accounting guidance, the Company evaluated its purchase and option agreements for real estate in place as of December 31, 2016 or 2015 . None met consolidation criteria under ASU 2015-02. 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 in 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 income tax assets is subject to the Company generating of sufficient taxable income during the periods in which the deferred tax assets become realizable. If it is more likely than not that some or all of the deferred income tax assets will not be realized, a valuation allowance is recorded. The Company considered many factors when assessing the likelihood of future realization of its deferred tax assets, including recent cumulative earnings experience by taxing jurisdiction, expectations of future transactions, the carry-forward periods available to the Company for tax reporting purposes and availability of tax planning strategies. These assumptions require significant judgment about future events. These judgments are consistent with the plans and estimates that the Company uses to manage the underlying businesses. In evaluating the objective evidence that historical results provide, the Company considered three years of cumulative operating income or loss of the Company and its predecessor. During the year ended December 31, 2016 , the Company evaluated 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. Upon completing this evaluation, the Company concluded that it is more likely than not that the Company will be able to realize its deferred tax assets. Due to the Company's cumulative profitability during the years ended 2016 , 2015 and 2014 , a valuation allowance reversal against the Company’s deferred tax assets was approximately $5.5 million . As a result of the reversal of the valuation allowance, the Company realized 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, other than as a result of the impact from the timing differences inherent to UCP, Inc.'s investment in UCP, LLC. See Note 14 , “Income Taxes” and Note 15 , "Deferred Tax Asset Valuation Allowance" to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for a further discussion of the Company’s income taxes and the valuation allowance reversal for the applicable period. As a result of the analysis of all available evidence as of December 31, 2015 and 2014 the Company's net deferred tax assets were subject to a full valuation allowance. 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. Price Participation Interests: Certain land purchase contracts and other agreements include provisions for additional payments to the land sellers. These additional payments are contingent on certain future outcomes, such as selling homes above a certain preset price or achieving an internal rate of return above a certain preset level. These additional payments, if triggered, are accounted for as cost of sales when they become due, however, they are neither fully determinable, nor due, until the transfer of title to the buyer is complete. Accordingly, no liability is recorded until the sale is complete. Noncontrolling Interest: The Company reports the share of the results of operations that are attributable to other owners of its consolidated subsidiaries that are less than wholly-owned as noncontrolling interest in the accompanying consolidated financial statements. In the accompanying 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. For the years ended December 31, 2016 and 2015 , the noncontrolling interest reported in the accompanying consolidated financial statements includes PICO's share of 56.8% and 56.9% , respectively, of the income related to UCP, LLC. See Note 10 , "Equity--Noncontrolling Interest" to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further discussion on noncontrolling interest. Recently Issued Accounting Standards: Standard Description Effective Date for the Company Application Effect on the Consolidated Financial Statements Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (ASU 2017-04) Simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. Instead, an entity should perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, considering income tax effects, and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. January 1, 2020; early adoption permitted Prospective The Company currently has no goodwill recorded on its financial statements and will evaluate the method of adoption upon a future business combination when goodwill may be recorded. The Company does not expect to early adopt. Business Combinations (Topic 805): Clarifying the Definition of a Business (ASU 2017-01) Clarifies the definition of a business and the evaluation for determining whether transactions are accounted for as acquisitions (or disposals) of assets or businesses. The amendments provide a framework to assist entities in evaluating whether both an input and a substantive process are prese

Income or loss per share

Income or loss per share	12 Months Ended
	Dec. 31, 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 stock method, if dilutive. The Company’s RSUs and Options are considered Class A common stock equivalents for this purpose. For the years ended December 31, 2016 and 2015 , incremental common stock equivalents of 95,700 and 6,723 shares, respectively, were included in calculating diluted income per share. For the year ended December 31, 2014 , no incremental common stock equivalents were included in calculating diluted loss per share 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 years ended December 31, 2016 , 2015 and 2014 have been computed as follows (in thousands, except share and per share amounts): For the Year Ended December 31, 2016 2015 2014 Numerator Net income (loss) attributable to UCP, Inc. $ 9,238 $ 2,371 $ (4,993 ) Denominator Weighted average number of shares of Class A common stock outstanding - basic 7,969,028 7,966,765 7,870,269 Effect of dilutive securities: RSUs 95,700 6,723 — Total shares for purpose of calculating diluted net income (loss) per share 8,064,728 7,973,488 7,870,269 Earnings (loss) per share: Net income (loss) per share of Class A common stock - basic $ 1.16 $ 0.30 $ (0.63 ) Net income (loss) per share of Class A common stock - diluted $ 1.15 $ 0.30 $ (0.63 ) The following RSUs and Options issued were excluded in the computation of diluted EPS for the years ended December 31, 2016 , 2015 and 2014 because the effect would be anti-dilutive: For the Year Ended December 31, 2016 2015 2014 Anti-dilutive securities 250,380 270,718 419,150

Real Estate Inventories

Real Estate Inventories	12 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Real Estate Inventories	REAL ESTATE INVENTORIES Real estate inventories consisted of the following (in thousands): December 31, 2016 December 31, 2015 Deposits and pre-acquisition costs $ 9,232 $ 3,836 Land held and land under development 101,609 128,059 Finished lots 86,622 117,335 Homes completed or under construction 148,627 89,866 Model homes 27,117 21,893 Total $ 373,207 $ 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 December 31, 2016 , the Company had $9.2 million of deposits and pre-acquisition costs for 2,607 lots with an aggregate purchase price of approximately $106.0 million , net of deposits. As of December 31, 2015 , the Company had $3.8 million of deposits pertaining to land purchase contracts for 1,127 lots with an aggregate purchase price of approximately $80.1 million , net of deposits. As of December 31, 2016 and 2015 , the Company had completed homes included in inventories of approximately $21.1 million and $31.4 million , respectively, as shown in the charts below ($ in millions): Interest Capitalization: Amounts capitalized to home inventories and land inventories were as follows (in thousands): December 31, 2016 2015 2014 Interest expense capitalized as cost of home inventory $ 10,500 $ 8,940 $ 3,176 Interest expense capitalized as cost of land inventory 2,003 2,627 577 Total interest expense capitalized 12,503 11,567 3,753 Previously capitalized interest expense included in cost of sales - homebuilding (7,737 ) (5,275 ) (2,789 ) Previously capitalized interest expense included in cost of sales - land development (381 ) (317 ) (3 ) Net activity of capitalized interest 4,385 5,975 — 961 Capitalized interest expense in beginning inventory 13,274 7,299 6,338 Capitalized interest expense in ending inventory $ 17,659 $ 13,274 $ 7,299 Interest is capitalized on real estate inventories during development. Interest capitalized is included in cost of sales in the Company's consolidated statement of operations and comprehensive income or loss as related sales are recognized. For the years ended December 31, 2016 , 2015 and 2014 , interest incurred of $12.5 million , $11.6 million , and $3.8 million , respectively, was capitalized in each respective period.

Fixed Assets, Net

Fixed Assets, Net	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Fixed Assets, Net	FIXED ASSETS, NET Net fixed assets consisted of the following (in thousands): December 31, 2016 December 31, 2015 Computer hardware and software $ 2,043 $ 1,954 Office furniture and equipment and leasehold improvements 911 834 Vehicles 83 83 Total 3,037 2,871 Accumulated depreciation (2,154 ) (1,557 ) Fixed assets, net $ 883 $ 1,314 Depreciation expense for the years ended December 31, 2016 , 2015 and 2014 was $597,000 , $588,000 and $463,000 , respectively. Depreciation expense is recorded in G&A expenses in the accompanying consolidated statements of operations and comprehensive income or loss.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	INTANGIBLE ASSETS Other purchased intangible assets consisted of the following: December 31, 2016 December 31, 2015 (in thousands) Gross Carrying Amount Accumulated Amortization Ending Balance Gross Carrying Amount Accumulated Amortization Ending Balance Architectural plans $ 170 $ (94 ) $ 76 $ 170 $ (60 ) $ 110 Land option 583 (558 ) 25 583 (457 ) 126 Trademarks and trade names 110 (110 ) — 110 (110 ) — $ 863 $ (762 ) $ 101 $ 863 $ (627 ) $ 236 Amortization expense for the years ended December 31, 2016 and 2015 related to the architectural plans and trademarks and trade names intangibles was approximately $34,000 for both periods. The architectural plans intangible amortization period is 5 years. Amortization expense is recorded in G&A expenses in the accompanying 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, 2017 $ 34 2018 34 2019 8 Total $ 76 Additionally, $86,000 and $196,000 related to land options was capitalized to real estate inventories during the years ended December 31, 2016 and 2015 , respectively. For the years ended December 31, 2016 and 2015 , $15,000 and $119,000 , respectively, was related to abandonment. Goodwill The changes in the carrying amount of goodwill for the years ended December 31, 2016 and 2015 were as follows: (in thousands) Goodwill Balance at December 31, 2014 $ 4,223 Goodwill impairment — Balance as of December 31, 2015 $ 4,223 Goodwill impairment (4,223 ) Balance as of December 31, 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 year ended December 31, 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 year ended December 31, 2016 , the Company recorded goodwill impairment of $4.2 million . There was no goodwill impairment for the year ended December 31, 2015 .

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Dec. 31, 2016
Payables and Accruals [Abstract]
Accrued Liabilities	ACCRUED LIABILITIES Accrued liabilities consisted of the following: (in thousands) December 31, 2016 December 31, 2015 Real estate development cost to complete $ 10,347 $ 11,992 Accrued expenses 5,855 5,692 Warranty reserves ( Note 2 ) 5,642 2,852 Contingent consideration ( Note 13 ) 360 2,707 Accrued payroll liabilities 3,138 1,373 Total $ 25,342 $ 24,616

Notes Payable and Senior notes,

Notes Payable and Senior notes, net	12 Months Ended
	Dec. 31, 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 December 31, 2016 and 2015 , the Company had approximately $164.0 million and $157.9 million , respectively, of loan commitments related to its acquisition, development and construction loans (“ADC”). Of the total loan commitments, approximately $77.2 million and $75.1 million , respectively, was available to the Company. As of December 31, 2016 and 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 LIBOR plus a spread ranging from 2.75% to 3.75% or the U.S. Prime rate ("Prime") plus a spread of 1.75% . The Company’s 2017 Senior Notes (the “2017 Notes”) with $75.0 million in principal outstanding mature in October of 2017, and an additional $46.0 million in ADC loans are also set to mature in the ordinary course of business during 2017. With respect to the $46.0 million in ADC loans, these loans are project specific loans and are scheduled to mature in the ordinary course of closing out of the sales phase for each of these projects and we anticipate the sales proceeds from the designated home closings will provide a more than adequate source of cash for the repayment of these loans. For the 2017 Senior Notes our existing available cash, available borrowing capacity and cash expected to be generated from our backlog of home sales will be sufficient to repay this obligation when due. On October 21, 2014, the Company completed the private offering of $75.0 million in aggregate principal amount of the 8.5% 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. Under the Indenture, the 2017 Notes bear interest at 8.5% per annum, payable on March 31, June 30, September 30 and December 31 of each year. The 2017 Notes mature on October 21, 2017, unless earlier redeemed or repurchased. The 2017 Notes are guaranteed on an unsecured senior basis by each of the Company’s Subsidiary Guarantors. The 2017 Notes and the guarantees are the Company’s and the Subsidiary Guarantors’ senior unsecured obligations and rank equally in right of payment with all of the Company’s and the Subsidiary Guarantors’ existing and future senior unsecured debt and senior in right of payment to all of the Company’s and the Subsidiary Guarantors’ future subordinated debt. The 2017 Notes and the guarantees are effectively subordinated to any of the Company’s and the Subsidiary Guarantors’ existing and future secured debt, to the extent of the value of the assets securing such debt. The Company may redeem the 2017 Notes, in whole but not in part, at a price equal to 100% of the principal amount, plus accrued and unpaid interest, plus a “make-whole” premium. Upon the occurrence of a change of control, the Company must offer to repurchase the 2017 Notes for cash at a price equal to 101% of the principal amount of the 2017 Notes to be repurchased plus accrued and unpaid interest to, but excluding, the repurchase date. Under the Indenture, a “change of control” generally means (i) any person or group of related persons acquires more than 35% of the voting stock of the Company or (ii) the Company transfers all or substantially all of its consolidated assets to any person or group of related persons, in each case other than PICO Holdings, Inc. and its affiliates. The Indenture provides for customary “events of default” which could cause, or permit, the acceleration of the 2017 Notes. Such events of default include (i) a default by any payment of principal or interest; (ii) failure to comply with certain covenants contained in the Indenture; (iii) defaults in failure to pay certain other indebtedness or the acceleration of certain other indebtedness prior to maturity; (iv) the failure to pay certain final judgments; and (vi) certain events of bankruptcy or insolvency. The Indenture limits the Company’s and its subsidiaries’ ability to, among other things, incur or guarantee additional unsecured and secured indebtedness (provided that the Company may incur indebtedness so long as the Company’s ratio of indebtedness to consolidated tangible assets (on a pro forma basis) would be equal to or less than 45% and provided that the aggregate amount of secured debt may not exceed the greater of $75 million or 30% of the Company’s consolidated tangible assets); pay dividends and make certain investments and other restricted payments; acquire unimproved real property in excess of $75 million per fiscal year or in excess of $150 million over the term of the 2017 Notes, except to the extent funded with subordinated obligations or the proceeds of equity issuances; create or incur certain liens; transfer or sell certain assets; and merge or consolidate with other companies or transfer or sell all or substantially all of the Company’s consolidated assets. Additionally, the Indenture requires the Company to maintain at least $50 million of consolidated tangible assets not subject to liens securing indebtedness; maintain a minimum net worth of $175 million ; maintain a minimum of $15 million of unrestricted cash and/or cash equivalents; and not permit decreases in the amount of consolidated tangible assets by more than $25 million in any fiscal year or more than $50 million at any time after the issuance of the 2017 Notes. As of December 31, 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): Variable Interest Rate: December 31, 2016 December 31, 2015 LIBOR + 3.75% through 2016 (a) $ — $ 34,528 Prime+ 1.75% through 2016 (b) — 717 LIBOR + 3.00% through 2016 (a) — 4,832 LIBOR + 3.50% through 2017 (a) 4,693 9,785 LIBOR + 3.75% through 2017 (a) 31,533 18,456 LIBOR + 2.75% through 2018 (a) 10,500 — LIBOR + 3.75% through 2018 (a) 26,444 — 5.50% through 2016 — 2,342 5.50% through 2017 2,476 — 5.00% through 2017 5,607 4,581 Total variable notes payable $ 81,253 $ 75,241 Fixed Interest Rate: December 31, 2016 December 31, 2015 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 of discount 74,871 74,710 Total notes payable and senior notes $ 161,728 $ 157,490 Debt issuance costs (c) (734 ) (1,524 ) Total notes payable and senior notes, net $ 160,994 $ 155,966 (a) As of December 31, 2016 , the 30-day LIBOR rate was 0.77167% . (b) At December 31, 2016 , the U.S. Prime rate was 3.75% . (c) Debt issuance costs for non-revolver loans were $0.7 million and $1.5 million as of December 31, 2016 and 2015 , respectively; and $0.6 million and $0.2 million for revolver loans as of December 31, 2016 and 2015 , respectively. As of December 31, 2016 , principal maturities of notes payable and senior notes for the years ending December 31 are as follows (in thousands): 2017 $ 120,785 2018 40,943 2019 and thereafter — Total $ 161,728

Fair Value Disclosures

Fair Value Disclosures	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures	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 December 31, 2016 and 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 or 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 years ended December 31, 2016 and 2015 . The following presents the carrying value and fair value of the Company’s financial instruments which are not carried at fair value: December 31, 2016 December 31, 2015 (in thousands) Level in Fair Value Hierarchy Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Notes payable Level 3 $ 86,857 $ 86,843 $ 82,780 $ 84,712 2017 notes Level 3 74,871 74,838 74,710 82,057 Total debt $ 161,728 $ 161,681 $ 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. While the Company considered rates on existing and recently closed loan facilities in addition to the current refinancing fixed rate as of December 31, 2016 , these unobservable were not incorporated into its final estimate of fair value. 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 at December 31, 2016 Contingent consideration — — $ 360 $ 360 Description Level 1 Level 2 Level 3 Balance at 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 relating to the Citizens Acquisition for the years ended December 31, 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 December 31, 2015 $ 2,707 Change in fair value (2,347 ) Balance as of December 31, 2016 $ 360 The contingent consideration arrangement relating to 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 $0.4 million as of December 31, 2016 was estimated based on applying the weighted probability of achievement of the performance milestones. The fair value of the contingent consideration of $2.7 million as of December 31, 2015 was estimated using a Monte Carlo simulation in an options pricing framework. The change in estimated fair value of the contingent consideration was $2.3 million and $0.8 million for the years ended December 31, 2016 and 2015 . During the year ended December 31, 2016 , the Company had a recurring fair value measurement for the contingent consideration and was reduced by $2.3 million . The fair value of the contingent consideration of $0.4 million as of December 31, 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. The fair value of the contingent consideration of $2.7 million as of December 31, 2015 was estimated using a Monte Carlo simulation in an options pricing framework. The measurement is 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 net income over the contingent consideration period; (2) risk-adjusted discount rate reflecting the risk inherent in the forecast adjusted net income; (3) risk-free interest rates; (4) volatility of adjusted net income; and (5) the Company’s credit spread. The risk adjusted discount rate applied to forecast adjusted net income was 13.5% plus the applicable risk-free rate, resulting in a discount rate ranging from 13.5% to 14.2% over the contingent consideration period. The estimated volatility rate of 19.1% was used to simulate future adjusted net income over the contingent consideration period, and the Company's estimated credit spread of 11.0% was applied to the simulated contingent consideration cash-flows as an incremental discount rate to allow for the counter-party credit risk associated with the Company making the cash payments in the future. 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 13 , “Commitments and Contingencies” to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for a discussion of the non-financial measurements applied to the Citizens Acquisition. Non-Recurring Estimated Fair Value of Real Estate Inventories The following presents the Company’s non-financial instruments that were measured at fair value, on a non-recurring basis, by level within the fair value hierarchy (in thousands): Description Level 1 Level 2 Level 3 Total Impairment During the Year Ended December 31, 2016 Real estate and development costs - Heathers at Westport project $ 1,066 $ 192 Real estate and development costs - Sundance project $ 5,782 $ 2,397 Description Level 1 Level 2 Level 3 Total Impairment During the Year Ended December 31, 2015 Real estate and development costs - River Run project $ 5,960 $ 923 For the year ended December 31, 2016 , the company had non-recurring fair value measurements that resulted from real estate impairment losses. During the year ended December 31, 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. Key assumptions include: (1) forecast adjusted pre-tax net income, (2) risk adjusted discount rate, and (3) selling expenses. The estimated risk adjusted discount rate of 12.0% and selling expenses were applied to forecast adjusted net income. In addition, the Company had a non-recurring fair value measurement for a land development real estate asset located in Bakersfield, California, the Sundance project. During the year ended December 31, 2016 , the Company entered into a contract to sell the remaining lots in the Sundance project for less than their carrying value at a future date. As a result of the execution of a contract to sell the remaining lots at a price lower than our carrying value, the Sundance project was written down to its fair value, less selling costs. The Company recorded an impairment loss of $2.1 million with respect to the Company’s land development real estate inventories at Sundance. Furthermore, homes under construction and completed homes in the Sundance project had a carrying value in excess of their estimated undiscounted cash flows. As a result, their carrying values were written down to their fair value and the Company recorded an additional impairment loss of $0.3 million at Sundance with respect to the Company’s homes under construction estate inventories. Key assumptions used in determining the impairment loss for homes under construction and completed homes for Sundance include: (1) forecast adjusted pre-tax net income, (2) risk adjusted discount rate, and (3) selling expenses. The estimated risk adjusted discount rate of 8.0% and selling expenses were applied to forecast adjusted net income. For the year ended December 31, 2015 , an impairment of $0.9 million 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. The Company utilized a discounted cash flow analysis in order to determine fair value for the River Run asset. Key inputs to the calculation include projections of the asset’s revenue and cost components, in addition to the timing of which these components will be realized. The Company utilized recent community performance and a combination of publicly-available research services to best evaluate future home sales revenue. Key elements of this research include the pricing of competitive new and existing homes in the local area. The forecasted cost to complete the remaining homes in the River Run asset were determined via negotiated values with the Company’s local vendors and sub-contractors, as well as the Company’s expertise as a local homebuilder. Timing of deliveries and production, as it relates to the timing of revenue and cost, was determined through market analysis of recent historical performance of the River Run asset, the survey of competitive new home community performance and Company experience. See Note 2 , “Summary of Significant Accounting Policies” to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further discussion on impairment of real estate inventories. There were no other non-financial fair value measurements for the years ended December 31, 2016 and 2015 .

Equity

Equity	12 Months Ended
	Dec. 31, 2016
Noncontrolling Interest [Abstract]
Equity	EQUITY Noncontrolling Interest As of December 31, 2016 and 2015 , the Company held approximately 43.2% and 43.1% , respectively, of the economic interest in UCP, LLC and is its sole managing member. The noncontrolling interest reported in the accompanying consolidated financial statements includes PICO's 56.8% and 56.9% share of the income related to UCP, LLC for the years ended December 31, 2016 and 2015 , respectively. The carrying value and ending balance as of December 31, 2016 and 2015 of the noncontrolling interest was calculated as follows (in thousands): December 31, 2016 December 31, 2015 Beginning balance of noncontrolling interest $ 127,208 $ 124,012 Net income attributable to noncontrolling interest 5,210 3,412 Re-allocation of stock issuances (1,962 ) — Stock-based compensation expense attributable to noncontrolling interest 657 977 Stock issuance attributable to noncontrolling interest (25 ) (211 ) Distribution to noncontrolling interest (4,830 ) (982 ) Ending balance $ 126,258 $ 127,208 The distribution to the noncontrolling interest relates to cash distributions, which we refer to as “tax distributions,” that UCP, LLC is obligated to make. 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 December 31, 2016 , the Company repurchased an aggregate of 146,346 shares of Class A common stock for total consideration of $1.2 million , inclusive of commissions. The remaining value of shares that may be repurchased under the Stock Repurchase Program as of December 31, 2016 is approximately $3.8 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 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

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	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 certain members of the Company’s board of directors during the second quarter of 2016 fully vest on January 1, 2017. The RSUs granted to the Company’s employees during the second quarter of 2016 are subject to the following vesting schedule: a) 20% vest on January 1, 2017, b) 20% vest on January 1, 2018, c) 20% vest on January 1, 2019, d) 20% vest on January 1, 2020, and e) 20% vest on January 1, 2021. The RSUs granted to the Company’s board of directors during the third quarter of 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. The grant-date fair value of the RSUs and Options granted during the periods ended December 31, 2016 and 2015 were $2.2 million and $0.4 million , respectively. During the years ended December 31, 2016 , 2015 , and 2014 , the Company recognized $1.2 million , $1.7 million , and $3.6 million of stock-based compensation expense, respectively, which was included in G&A expenses in the accompanying consolidated statements of operations and comprehensive income or loss. The following table summarizes the RSU activity for the years ended December 31, 2016 , 2015 and 2014 : Number of Shares Weighted Average Grant Date Fair Value Outstanding and unvested at December 31, 2013 289,555 $ 15.00 Granted 66,561 16.00 Vested (148,778 ) 15.00 Forfeited (16,898 ) 15.41 Outstanding and unvested at December 31, 2014 190,440 $ 15.31 Granted 1,237 7.98 Vested (143,146 ) 15.02 Forfeited — — Outstanding and unvested at December 31, 2015 48,531 $ 15.99 Granted 271,635 8.04 Vested (35,853 ) 12.17 Forfeited — — Outstanding and unvested at December 31, 2016 284,313 $ 8.88 The following table summarizes the Options activity for the years ended December 31, 2016 , 2015 , and 2014 : Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) (1) Outstanding at December 31, 2013 — — — — Options granted 166,081 $ 16.20 9.16 — Options exercised — — — — Options forfeited (16,476 ) — — — Outstanding at December 31, 2014 149,605 $ 16.20 9.16 — Options granted 71,429 8.97 — — Options exercised — — — — Options forfeited (71,429 ) (8.97 ) — — Outstanding at December 31, 2015 149,605 $ 16.20 8.20 — Options granted — — — — Options exercised — — — — Options forfeited — — — — Options expired (32,953 ) — — — Outstanding at December 31, 2016 116,652 $ 16.20 7.20 — Options vested and exercisable as of December 31, 2016 34,996 $ 16.20 — — Options expected to vest as of December 31, 2016 81,656 (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 December 31, 2016 was $12.05 per share. The weighted average grant date fair value of Options granted for the year ended December 31, 2015 was $4.94 . There were no Options granted during the year ended December 31, 2016 . The Company uses the Black-Scholes option pricing model to determine the fair value of Options. During the year ended December 31, 2016 , the Company had 32,953 vested Options that expired based on the Resignation Agreement with the Company’s former Chief Financial Officer and Treasurer. The assumptions used to estimate the fair value of Options granted during the years ended December 31, 2015 and 2014 were as follows: As of December 31, 2015 2014 Expected term 6.5 years 6.5 years Expected volatility % 55.00 % 53.46 % Risk free interest rate % 1.61 % 1.81 % Dividend yield % — — Unrecognized compensation cost for RSUs and Options issued under the LTIP was $2.0 million (net of estimated forfeitures) as of December 31, 2016 . Approximately $1.7 million of the unrecognized compensation costs related to RSUs and $0.3 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 1.2 years for the Options.

Incentive Compensation Plan and

Incentive Compensation Plan and Employee Benefits	12 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Incentive Compensation Plan and Employee Benefits	INCENTIVE COMPENSATION PLAN AND EMPLOYEE BENEFITS Incentive Compensation Plan Certain employees of the Company are eligible to receive an annual incentive compensation award based on various performance measures. The incentive compensation plan is discretionary. For the years ended December 31, 2016 , 2015 and 2014 , incentive expense awards of $2.2 million , $0.5 million and $0.3 million , respectively, were recorded within G&A expenses in the accompanying consolidated statement of operations and comprehensive income or loss. Employee Benefits The Company maintains a 401(k) defined contribution plan, covering substantially all employees of the Company. Matching contributions are based on a percentage of employee compensation. In addition, the Company may make a discretionary profit sharing contribution at the end of the fiscal year within limits established by the Employee Retirement Income Securities Act. Total contribution expense to the plan for the years ended December 31, 2016 , 2015 and 2014 was $0.6 million , $0.4 million and $0.6 million , respectively.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company segmented its operating activities into 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 of 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 as the consolidated financial statements described in Note 2 , "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 non-segment 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: Revenues Gross Margin (in thousands) 2016 2015 2014 2016 2015 2014 Homebuilding West $ 289,037 $ 191,884 $ 128,334 $ 54,392 $ 35,666 $ 21,858 Southeast 54,882 60,713 27,083 8,455 9,261 3,982 Total homebuilding 343,919 252,597 155,417 62,847 44,927 25,840 Land development West 5,449 21,074 32,513 (930 ) 5,853 7,047 Southeast — 60 — (389 ) (10 ) — Total land development 5,449 21,134 32,513 (1,319 ) 5,843 7,047 Other (a) — 5,060 3,253 — 697 425 Total $ 349,368 $ 278,791 $ 191,183 $ 61,528 $ 51,467 $ 33,312 (a) Other includes revenues from construction management services which relate to the Citizens Acquisition and is not attributable to the homebuilding and land development operations. Reconciliation of gross margin to net income (loss) is as follows: For the Year Ended December 31, (in thousands) 2016 2015 2014 Gross margin $ 61,528 $ 51,467 $ 33,312 Sales and marketing 19,257 18,943 13,748 General and administrative 29,161 26,878 27,406 Goodwill impairment 4,223 — — Income (loss) from operations 8,887 5,646 (7,842 ) Other income, net 276 206 121 Net income (loss) before income taxes 9,163 5,852 (7,721 ) Benefit (provision) for income taxes 5,285 (69 ) — Net income (loss) $ 14,448 $ 5,783 $ (7,721 ) Total assets for each reportable and operating segment as of December 31, 2016 , 2015 and 2014 , are shown in the table below: At December 31, (in thousands) 2016 2015 2014 Homebuilding West $ 225,770 $ 231,624 $ 218,902 Southeast 53,359 49,464 47,004 Total homebuilding 279,129 281,088 265,906 Land development West 94,078 79,901 55,787 Southeast — — — Total land development 94,078 79,901 55,787 Other (a) 60,899 53,708 53,446 Total $ 434,106 $ 414,697 $ 375,139 (a) Other assets primarily include cash and cash equivalents, deposits, fixed assets, receivables and deferred tax assets which are maintained centrally and used according to the cash flow requirements of all reportable segments.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 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 December 31, 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 ("Option and Development Agreement"). 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. Approximately $4.0 million of reimbursable land development costs under the Option and Development Agreement was recorded as a receivable for the year ended December 31, 2016 . As of December 31, 2016 , there are 226 lots remaining to be purchased under the agreement. As of December 31, 2016 , we had outstanding $9.2 million of cash deposits pertaining to purchase contracts for 2,607 optioned lots with an aggregate remaining purchase price of approximately $106.0 million . As of December 31, 2015 , we had outstanding $3.8 million cash deposits pertaining to purchase contracts for 1,127 optioned 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 in the year ended December 31, 2016 , 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. Accordingly, no liability has been recorded at December 31, 2016 . The Company will continue to assess the impact of this regulatory action and will record any future liability as additional information becomes available. 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 December 31, 2016 and 2015 , the Company had outstanding surety bonds totaling $55.2 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. Letter of Credit As of December 31, 2016 , the Company had $0.6 million outstanding in a letter of credit as part a bond offering at East Garrison, located in Monterey Bay, California. The Company had no outstanding in a letters of credit as of December 31, 2015 . Operating Leases The Company leases some of its offices under non-cancellable operating leases that expire at various dates through 2021 and thereafter. Rent expense for the years ended December 31, 2016 , 2015 and 2014 , for office space was approximately $1.4 million , $1.3 million and $1.1 million , respectively. Future minimum payments under all operating leases for the years ending December 31 are as follows (in thousands): 2017 $ 928 2018 829 2019 403 2020 275 2021 89 thereafter — Total $ 2,524

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The components of continuing income or loss before income taxes were as follows for the years ended December 31, 2016 , 2015 and 2014 (in thousands): 2016 2015 2014 Current Expense: Federal $ 152 $ 58 $ — State 45 11 — Total Current Expense $ 197 $ 69 $ — Deferred Expense: Federal (4,795 ) — — State (687 ) — — Total Deferred Expense (5,482 ) — — Total income tax expense (benefit) $ (5,285 ) $ 69 $ — For the year ended December 31, 2016 , the Company recognized an income tax benefit of as a result of a reversal of the valuation allowance. See Note 15 , "Deferred Tax Asset Valuation Allowance" to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further discussion on the valuation allowance release. A reconciliation of income tax computed at the statutory federal income tax rate to the provision (benefit) for income taxes included in the accompanying consolidated state ments of operations and comprehensive income or loss is as follows for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 Income tax (benefit) provision at federal statutory rate 35 % 35 % 35 % State income tax, net of federal benefit (7 )% — % — % Change in valuation allowance (74 )% (12 )% (22 )% Noncontrolling interest (20 )% (20 )% (12 )% Other permanent items 8 % (2 )% (1 )% Effective tax rate (58 )% 1 % — % Total deferred tax assets and liabilities consist of the following as of December 31, 2016 , 2015 and 2014 (in thousands): 2016 2015 2014 Deferred tax assets: Net operating loss and tax credit carry forwards $ 252 $ 2,213 $ 3,317 Outside basis difference in partnership 5,214 5,391 5,192 Other 16 26 83 Total deferred tax assets 5,482 7,630 8,592 Valuation allowance — (7,630 ) (8,592 ) Net deferred tax assets $ 5,482 $ — $ — The Company's net deferred tax assets at December 31, 2016 was primarily the result of timing differences inherent in UCP, Inc.'s investment in UCP, LLC. In assessing the recoverability of deferred tax assets, management considers whether it is more likely than not that a portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of sufficient future taxable income during the periods in which those temporary differences become deductible or included in taxable income. The Company has considered the following possible sources of taxable income when assessing the realization of its deferred tax assets: (1) future reversals of existing taxable temporary differences; (2) taxable income in prior carryback years; (3) future taxable income exclusive of reversing temporary differences and carryforwards; and (4) tax planning strategies. In making this assessment, management is required to consider all available positive and negative evidence to determine whether it is more likely than not that some portion or all of the deferred tax assets will be realized in future periods. Based upon the level of historical income and projections for future taxable income over the periods to which the deferred tax assets are applicable, the Company concluded that it is more likely than not that the Company will be able to realize the benefits of these temporary differences as of and for the year ended December 31, 2016 . As of December 31, 2016 the company has no valuation allowance established against deferred tax assets. Accordingly, for the year ended December 31, 2016 , a release of the valuation allowance of $5.5 million is recorded. See Note 15 , "Deferred Tax Asset Valuation Allowance" to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further discussion on the valuation allowance release. For the year ended December 31, 2015 , the Company's deferred tax assets of $7.6 million related principally to net operating losses and the deductible temporary differences attributable to the Company’s investment in UCP, LLC. A significant piece of objective negative evidence evaluated was the cumulative loss incurred over the three-year period ended December 31, 2015 . Such objective evidence limits the ability to consider other subjective evidence, such as the Company's projections for future growth. Therefore, the Company recorded a full valuation allowance of approximately $7.6 million , against its deferred tax assets as of December 31, 2015 . The Company has the following federal, California and other state net operating loss carryforwards, and federal and state minimum tax and general business credits, as of December 31, 2016 , which will expire on various dates as follows (in thousands): As of December 31, 2016 2015 2014 Federal net operating losses $ — $ 4,549 $ 7,286 California net operating losses 1,588 5,417 7,003 Other state net operating losses — 232 725 Federal general business credits 84 291 290 Federal AMT credits 54 54 — State AMT credits 36 11 — The net operating loss carryforwards and general business credits, if not utilized, will begin to expire in 2034. The minimum tax credits for federal and state income tax purposes carryforward indefinitely. Measurement of uncertain tax positions is based on judgment regarding the largest amount that is greater than 50% likely of being realized upon the ultimate settlement with a taxing authority. As a result of the implementation of this guidance, the Company has not identified any uncertain tax positions and accordingly, has no unrecognized tax expense or benefit as of the tax years ended December 31, 2016 , 2015 and 2014 . The Company recognizes interest or penalties related to uncertain tax positions in income tax expense. There were no interest or penalty accruals associated with any unrecognized tax benefits as of and for the periods ended December 31, 2016 , 2015 and 2014 . The Company is subject to taxation in the U.S. and various state jurisdictions. The Company’s tax years starting from 2013 remain open in various tax jurisdictions. There are no ongoing examinations by taxing authorities at this time. DEFERRED TAX ASSET VALUATION ALLOWANCE As of December 31, 2015 , the Company had a valuation allowance against its net deferred tax asset of $7.6 million as the Company believed it was more likely than not that some or all of the deferred tax assets would not be realized. This assessment was based on the Company's historical losses and uncertainties as to the amount of future taxable income. During the year ended December 31, 2016 , the Company evaluated 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. Upon completing this evaluation, the Company concluded that it is more likely than not that the Company will be able to realize its deferred tax assets and released all of its $5.5 million valuation allowance for the year ended December 31, 2016 . The determination to reduce the valuation allowance for the year ended December 31, 2016 , was based primarily on the Company's cumulative profitability during the years ended 2016 , 2015 and 2014 , in addition to the Company's projections of taxable income in future years that provide support for utilization of our deferred tax assets. As a result of the reversal of the valuation allowance, the Company realized a one-time, non-cash tax benefit in the period of reversal. The related effect on the accompanying consolidated statements of operations and comprehensive income or loss resulted in the Company recording an income tax benefit of $5.3 million for the year ended December 31, 2016 .

Deferred Tax Asset Valuation Al

Deferred Tax Asset Valuation Allowance	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Deferred Tax Asset Valuation Allowance	INCOME TAXES The components of continuing income or loss before income taxes were as follows for the years ended December 31, 2016 , 2015 and 2014 (in thousands): 2016 2015 2014 Current Expense: Federal $ 152 $ 58 $ — State 45 11 — Total Current Expense $ 197 $ 69 $ — Deferred Expense: Federal (4,795 ) — — State (687 ) — — Total Deferred Expense (5,482 ) — — Total income tax expense (benefit) $ (5,285 ) $ 69 $ — For the year ended December 31, 2016 , the Company recognized an income tax benefit of as a result of a reversal of the valuation allowance. See Note 15 , "Deferred Tax Asset Valuation Allowance" to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further discussion on the valuation allowance release. A reconciliation of income tax computed at the statutory federal income tax rate to the provision (benefit) for income taxes included in the accompanying consolidated state ments of operations and comprehensive income or loss is as follows for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 Income tax (benefit) provision at federal statutory rate 35 % 35 % 35 % State income tax, net of federal benefit (7 )% — % — % Change in valuation allowance (74 )% (12 )% (22 )% Noncontrolling interest (20 )% (20 )% (12 )% Other permanent items 8 % (2 )% (1 )% Effective tax rate (58 )% 1 % — % Total deferred tax assets and liabilities consist of the following as of December 31, 2016 , 2015 and 2014 (in thousands): 2016 2015 2014 Deferred tax assets: Net operating loss and tax credit carry forwards $ 252 $ 2,213 $ 3,317 Outside basis difference in partnership 5,214 5,391 5,192 Other 16 26 83 Total deferred tax assets 5,482 7,630 8,592 Valuation allowance — (7,630 ) (8,592 ) Net deferred tax assets $ 5,482 $ — $ — The Company's net deferred tax assets at December 31, 2016 was primarily the result of timing differences inherent in UCP, Inc.'s investment in UCP, LLC. In assessing the recoverability of deferred tax assets, management considers whether it is more likely than not that a portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of sufficient future taxable income during the periods in which those temporary differences become deductible or included in taxable income. The Company has considered the following possible sources of taxable income when assessing the realization of its deferred tax assets: (1) future reversals of existing taxable temporary differences; (2) taxable income in prior carryback years; (3) future taxable income exclusive of reversing temporary differences and carryforwards; and (4) tax planning strategies. In making this assessment, management is required to consider all available positive and negative evidence to determine whether it is more likely than not that some portion or all of the deferred tax assets will be realized in future periods. Based upon the level of historical income and projections for future taxable income over the periods to which the deferred tax assets are applicable, the Company concluded that it is more likely than not that the Company will be able to realize the benefits of these temporary differences as of and for the year ended December 31, 2016 . As of December 31, 2016 the company has no valuation allowance established against deferred tax assets. Accordingly, for the year ended December 31, 2016 , a release of the valuation allowance of $5.5 million is recorded. See Note 15 , "Deferred Tax Asset Valuation Allowance" to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further discussion on the valuation allowance release. For the year ended December 31, 2015 , the Company's deferred tax assets of $7.6 million related principally to net operating losses and the deductible temporary differences attributable to the Company’s investment in UCP, LLC. A significant piece of objective negative evidence evaluated was the cumulative loss incurred over the three-year period ended December 31, 2015 . Such objective evidence limits the ability to consider other subjective evidence, such as the Company's projections for future growth. Therefore, the Company recorded a full valuation allowance of approximately $7.6 million , against its deferred tax assets as of December 31, 2015 . The Company has the following federal, California and other state net operating loss carryforwards, and federal and state minimum tax and general business credits, as of December 31, 2016 , which will expire on various dates as follows (in thousands): As of December 31, 2016 2015 2014 Federal net operating losses $ — $ 4,549 $ 7,286 California net operating losses 1,588 5,417 7,003 Other state net operating losses — 232 725 Federal general business credits 84 291 290 Federal AMT credits 54 54 — State AMT credits 36 11 — The net operating loss carryforwards and general business credits, if not utilized, will begin to expire in 2034. The minimum tax credits for federal and state income tax purposes carryforward indefinitely. Measurement of uncertain tax positions is based on judgment regarding the largest amount that is greater than 50% likely of being realized upon the ultimate settlement with a taxing authority. As a result of the implementation of this guidance, the Company has not identified any uncertain tax positions and accordingly, has no unrecognized tax expense or benefit as of the tax years ended December 31, 2016 , 2015 and 2014 . The Company recognizes interest or penalties related to uncertain tax positions in income tax expense. There were no interest or penalty accruals associated with any unrecognized tax benefits as of and for the periods ended December 31, 2016 , 2015 and 2014 . The Company is subject to taxation in the U.S. and various state jurisdictions. The Company’s tax years starting from 2013 remain open in various tax jurisdictions. There are no ongoing examinations by taxing authorities at this time. DEFERRED TAX ASSET VALUATION ALLOWANCE As of December 31, 2015 , the Company had a valuation allowance against its net deferred tax asset of $7.6 million as the Company believed it was more likely than not that some or all of the deferred tax assets would not be realized. This assessment was based on the Company's historical losses and uncertainties as to the amount of future taxable income. During the year ended December 31, 2016 , the Company evaluated 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. Upon completing this evaluation, the Company concluded that it is more likely than not that the Company will be able to realize its deferred tax assets and released all of its $5.5 million valuation allowance for the year ended December 31, 2016 . The determination to reduce the valuation allowance for the year ended December 31, 2016 , was based primarily on the Company's cumulative profitability during the years ended 2016 , 2015 and 2014 , in addition to the Company's projections of taxable income in future years that provide support for utilization of our deferred tax assets. As a result of the reversal of the valuation allowance, the Company realized a one-time, non-cash tax benefit in the period of reversal. The related effect on the accompanying consolidated statements of operations and comprehensive income or loss resulted in the Company recording an income tax benefit of $5.3 million for the year ended December 31, 2016 .

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data (Unaudited)	QUARTERLY FINANCIAL DATA (UNAUDITED) The following tables present certain unaudited consolidated quarterly financial information for each of the four fiscal quarters in the fiscal year ended December 31, 2016 and December 31, 2015 . This quarterly information has been prepared on the same basis as the audited consolidated financial statements and includes all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the information for the periods presented. The results for these quarterly periods are not necessarily indicative of the operating results for a full year or any future period. Three Months Ended March 31, June 30, 2016 September 30, 2016 December 31, 2016 (In thousands, except per share data) (Unaudited) Homebuilding revenue $ 68,225 $ 81,415 $ 89,840 $ 104,438 Land development revenue — 1,422 3,900 127 Other revenue — — — — Total revenue 68,225 82,837 93,740 104,565 Cost of sales – homebuilding 56,206 66,370 72,984 85,053 Cost of sales – land development 461 225 3,834 118 Cost of sales – other revenue — — — — Impairment on real estate — 2,397 192 — (a) Total cost of sales 56,667 68,992 77,010 85,171 Gross margin – homebuilding 12,019 15,045 16,856 19,385 Gross margin – land development (461 ) 1,197 66 9 Gross margin – other revenue — — — — Gross margin - impairment on real estate — (2,397 ) (192 ) — Total gross margin 11,558 13,845 16,730 19,394 Sales and marketing expenses 4,076 4,667 4,853 5,662 General and administrative expenses 7,275 7,234 4,592 10,060 Goodwill impairment — — 4,223 — Total expenses 11,351 11,901 13,668 15,722 Other income 28 22 204 23 Net income (loss) before income taxes $ 235 $ 1,966 $ 3,266 $ 3,695 Benefit (provision) for income taxes (5 ) (141 ) (124 ) 5,556 (b) Net income (loss) $ 230 $ 1,825 $ 3,142 $ 9,251 Net income (loss) attributable to UCP, Inc. $ 96 $ 706 $ 1,285 $ 7,151 Net income (loss) per common share: Basic $ 0.01 $ 0.09 $ 0.16 $ 0.90 Diluted $ 0.01 $ 0.09 $ 0.16 $ 0.89 * The quarterly financial data above may not total to the accompanying consolidated statements of operations and comprehensive income or loss or the accompanying gross margin schedule due to rounding. (a) The impairment on real estate in which the carrying value of inventories were written down to its estimated fair values. See Note 2 , “Summary of Significant Accounting Policies” and Note 9 , “Fair Value Disclosures--Non-Financial Instruments Carried at Fair Value--Non-Recurring Estimated Fair Value of Real Estate Inventories” to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further discussion of the impairment of real estate inventories. (b) The tax benefit was primarily the result of the valuation allowance reversal against the Company’s deferred tax assets. See Note 14 , “Income Taxes” and Note 15 , "Deferred Tax Asset Valuation Allowance" to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for a further discussion of the Company’s income taxes and the valuation allowance reversal for the applicable period. Three Months Ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 (In thousands, except per share data) (Unaudited) Homebuilding revenue $ 42,635 $ 50,785 $ 70,284 $ 88,892 Land development revenue 120 1,920 1,116 17,978 Other revenue 768 2,021 2,272 — Total revenue 43,523 54,726 73,672 106,870 Cost of sales – homebuilding 35,618 42,120 57,006 72,003 Cost of sales – land development 5 1,543 716 13,027 Cost of sales – other revenue 663 1,742 1,958 — Impairment on real estate — — — 923 Total cost of sales 36,286 45,405 59,680 85,953 Gross margin – homebuilding 7,017 8,665 13,278 16,889 Gross margin – land development 115 377 400 4,951 Gross margin – other revenue 105 279 314 — Gross margin - impairment on real estate — — — (923 ) (a) Total gross margin 7,237 9,321 13,992 20,917 Sales and marketing expenses 4,196 4,357 4,692 5,697 General and administrative expenses 7,320 6,453 5,539 7,567 Total expenses 11,516 10,810 10,231 13,264 Other income 102 30 45 29 Net income (loss) before income taxes $ (4,177 ) $ (1,459 ) $ 3,806 $ 7,682 Benefit (provision) for income taxes — — — (69 ) Net income (loss) $ (4,177 ) $ (1,459 ) $ 3,806 $ 7,613 Net income (loss) attributable to UCP, Inc. $ (1,840 ) $ (668 ) $ 1,639 $ 3,240 Net income (loss) per common share: Basic $ (0.23 ) $ (0.08 ) $ 0.20 $ 0.40 Diluted $ (0.23 ) $ (0.08 ) $ 0.20 $ 0.40 * The quarterly financial data above may not total to the accompanying consolidated statements of operations and comprehensive income or loss or the accompanying gross margin schedule due to rounding. (a) The impairment on real estate in which the carrying value of inventories were written down to its estimated fair values. See Note 2 , “Summary of Significant Accounting Policies” and Note 9 , “Fair Value Disclosures--Non-Financial Instruments Carried at Fair Value--Non-Recurring Estimated Fair Value of Real Estate Inventories” to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further discussion of the impairment of real estate inventories.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned, majority-owned and controlled subsidiaries, and have been prepared in accordance with the accounting principles generally accepted in the United States of America ("GAAP"). All intercompany accounts have been eliminated upon consolidation. 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 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 IPO, although a variety of circumstances could cause it to lose that status earlier.
Use of Estimates in Preparation of Financial Statements	Use of Estimates in Preparation of Financial Statements: The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the disclosure and reported amounts of assets and liabilities reported in the consolidated financial statements and accompanying notes. Significant estimates relate to the assessment of real estate impairments, valuation of assets and liabilities acquired, cost capitalization, accrued obligations, warranty reserves, income taxes and contingent liabilities. While management believes that the carrying value of such assets and liabilities are appropriate as of December 31, 2016 and 2015 , it is reasonably possible that actual results could differ from the estimates upon which the carrying values were based.
Related Party Transactions	Related Party Transactions: As of December 31, 2016 , PICO holds an economic and voting interest in our Company equal to approximately 56.8% . 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 TRA (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), 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 and a TSA (pursuant to which PICO provides certain administrative support services to UCP, Inc.).
Segment Reporting	Segment Reporting: The Company has segmented its operating activities into two operating segments, West and Southeast, and two reportable segments, Homebuilding and Land development. In accordance with the applicable accounting guidance, the Company considered similar economic and other characteristics, including geography, product types, average selling prices, gross margins, production processes, suppliers, subcontractors, regulatory environments, land acquisition results and underlying supply and demand in determining its reportable segments. 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: 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. To the extent the Company's debt exceeds the cost of the related qualifying asset under development, the Company expenses that portion of the interest incurred. Qualifying assets include projects that are actively under construction or under development.
Advertising Expenses	Advertising Expenses: The Company expenses advertising costs as incurred.
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 ("G&A") expenses, 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 consolidated balance sheets at the lower of cost or net realizable value.
Impairment and Abandonment 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.
Goodwill and Other Intangible Assets	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 related 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 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 year ended December 31, 2016 related to its Southeast operating segment. For the years ended December 31, 2015 and 2014 , there was no impairment of goodwill. See Note 6 , “Intangible Assets--Goodwill” to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further discussion of the impairment of goodwill.
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 G&A expenses in the accompanying 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 under a fixed price contract.
Homebuilding and Land Development Sales and Income Recognition	Homebuilding, Land Development Sales and Other Revenues 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 any 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 Company entered into “cost plus fee” contracts where property owners were charged for all direct and indirect costs plus a negotiated management fee. In accordance with ASC Topic 605 - Revenue Recognition , revenues from construction management services are recognized based upon a cost-to-cost approach in applying the percentage-of-completion method. Under this approach, revenue is earned in proportion to total costs incurred, divided by total costs expected to be incurred. The total estimated cost plus the management fee represents the total contract value. The Company recognized revenue based on the actual costs incurred, plus the portion of the management fee it has earned to date. In the course of providing construction management services, the Company routinely subcontracts for services and incurs other direct costs on behalf of the property owners. The business was acquired in connection with the Citizens Acquisition in 2014 and was sold during 2015. We no longer provide construction management services to third parties. Revenue and costs from providing these services for the year ended December 31, 2015 is included in other revenue and cost of sales-other revenue in the accompanying 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 awards vest in accordance with applicable guidance under ASC 718 - Compensation - Stock Compensation. See Note 10 , "Equity--Stock-Based Compensation" to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further discussion on stock-based 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. 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. Annually, or more frequently as needed, the Company engages a third-party actuary 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 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. The Company adopted the provisions of ASU 2015-02 as of January 1, 2016. In accordance with ASC Topic 810, " Consolidation ," the Company assesses each purchase agreement to acquire real estate from an entity to determine if a variable interest entity ("VIE") may be created. Although the Company may not have legal title to the underlying land, if the Company determines that it is the primary beneficiary of the VIE, the Company would consolidate the VIE in its accompanying consolidated financial statements and reflect such assets and liabilities as “Real estate inventories not owned.” In determining if the Company is the primary beneficiary, the Company considers, among other things, 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 or scope of the VIE; the ability to control financing decisions for the VIE; and the ability to acquire or dispose of property owned or controlled by the VIE. Based on the current provisions of the relevant accounting guidance, the Company evaluated its purchase and option agreements for real estate in place as of December 31, 2016 or 2015 . None met consolidation criteria under ASU 2015-02.
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 in 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 income tax assets is subject to the Company generating of sufficient taxable income during the periods in which the deferred tax assets become realizable. If it is more likely than not that some or all of the deferred income tax assets will not be realized, a valuation allowance is recorded. The Company considered many factors when assessing the likelihood of future realization of its deferred tax assets, including recent cumulative earnings experience by taxing jurisdiction, expectations of future transactions, the carry-forward periods available to the Company for tax reporting purposes and availability of tax planning strategies. These assumptions require significant judgment about future events. These judgments are consistent with the plans and estimates that the Company uses to manage the underlying businesses. In evaluating the objective evidence that historical results provide, the Company considered three years of cumulative operating income or loss of the Company and its predecessor. During the year ended December 31, 2016 , the Company evaluated 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. Upon completing this evaluation, the Company concluded that it is more likely than not that the Company will be able to realize its deferred tax assets. Due to the Company's cumulative profitability during the years ended 2016 , 2015 and 2014 , a valuation allowance reversal against the Company’s deferred tax assets was approximately $5.5 million . As a result of the reversal of the valuation allowance, the Company realized 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, other than as a result of the impact from the timing differences inherent to UCP, Inc.'s investment in UCP, LLC. See Note 14 , “Income Taxes” and Note 15 , "Deferred Tax Asset Valuation Allowance" to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for a further discussion of the Company’s income taxes and the valuation allowance reversal for the applicable period. As a result of the analysis of all available evidence as of December 31, 2015 and 2014 the Company's net deferred tax assets were subject to a full valuation allowance. 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.
Noncontrolling Interest	Noncontrolling Interest: The Company reports the share of the results of operations that are attributable to other owners of its consolidated subsidiaries that are less than wholly-owned as noncontrolling interest in the accompanying consolidated financial statements. In the accompanying 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: Standard Description Effective Date for the Company Application Effect on the Consolidated Financial Statements Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (ASU 2017-04) Simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. Instead, an entity should perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, considering income tax effects, and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. January 1, 2020; early adoption permitted Prospective The Company currently has no goodwill recorded on its financial statements and will evaluate the method of adoption upon a future business combination when goodwill may be recorded. The Company does not expect to early adopt. Business Combinations (Topic 805): Clarifying the Definition of a Business (ASU 2017-01) Clarifies the definition of a business and the evaluation for determining whether transactions are accounted for as acquisitions (or disposals) of assets or businesses. The amendments provide a framework to assist entities in evaluating whether both an input and a substantive process are present to meet the definition of a business. The adoption of this standard will result in less real estate acquisitions qualifying as businesses and, accordingly, acquisition costs for those acquisitions that are not businesses will be capitalized rather than expensed. January 1, Prospective The Company will evaluate the method of adoption upon a future business combination. The Company does not expect to early adopt. Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers (ASU 2016-20) The amendment provides updates to clarify narrow aspects of the ASU 2014-09 guidance. The update includes, but is not limited to, corrections or improvements to: loan guarantee fees, contract costs (impairment testing, interaction of impairment testing with guidance in other topics), provisions for losses on construction or production-type contracts, scope of Topic 606, disclosure of remaining performance obligations, disclosure of prior-period performance obligations, contract modifications, contract asset versus receivable, refund liability and advertising costs. January 1, Alternative The Company is evaluating Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) (ASU 2016-18) Improves the diversity in the classification and presentation of changes in restricted cash in the cash flow statement. Entities are required to explain the change during the period in the total of cash, cash equivalents and restricted cash in the statement of cash flows. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. January 1, Retrospective The Company early adopted on January 1, 2017. There is no material effect on the Company's future consolidated financial statements and related disclosures. Consolidation (Topic 810): Interests Held through Related Parties That Are under Common Control (ASU 2016-17) Amends consolidation guidance on how the reporting entity that is the single decision maker of a VIE should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. The primary beneficiary of a VIE is the reporting entity that has a controlling financial interest in a VIE and, therefore, consolidates the VIE. A reporting entity has an indirect interest in a VIE if it has a direct interest in a related party that, in turn, has a direct interest in the VIE. January 1, Retrospective if ASU 2015-02 was previously adopted; or same method of transition elected for ASU 2015-02 upon adoption The Company is evaluating the method of adoption and does not believe there will be a material effect on its future consolidated financial statements and related disclosures, specifically on indirect interests held through related parties under common control. Standard Description Effective Date for the Company Application Effect on the Consolidated Financial Statements Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory Improves the accounting for income tax consequences of intra-entity transfers of assets other than inventory in which an entity should recognize at the occurrence of the transfer. Consequently, the amendments eliminate the exception for an intra-entity transfer of an asset other than inventory. Two common examples of assets included in the scope of the update are intellectual property and property, plant, and equipment. January 1, 2018; Modified retrospective basis through a cumulative-effect adjustment to retained earnings The Company is evaluating the method of adoption and does not believe there will be a material effect on its future consolidated financial statements and related disclosures. The Company does not expect to early adopt. Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments 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; Retrospective The Company is evaluating the method of adoption and the effect on its future consolidated financial statements and related disclosures. The Company does not expect to early adopt. Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients (ASU 2016-12) Under ASU 2016-12, the core principal of Topic 606 has not changed and falls under the same guidance as ASU 2015-14. ASU 2016-12 provides clarification on new accounting guidance for revenue recognition replacing most existing guidance, including industry-specific guidance. Upon adoption, a company will recognize revenue for the transfer of goods or services to customers equal to the amount it expects to be entitled to receive for those goods or services. The guidance also requires additional disclosures about the nature, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. January 1, 2018; early adoption permitted Alternative transition methods available The Company is evaluating the method of adoption and does not believe ASU 2016-12 will have a material effect on its future consolidated financial statements and related disclosures, specifically on collectability, sales taxes and noncash consideration based on industry-specific guidance. The Company expects to adopt the standard as part of its adoption of ASU 2015-14. Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing (ASU 2016-10) Improves the implementation guidance on the new revenue standard. Under ASU 2016-10, the guidance provides clarification on the criteria to assess whether promises to transfer goods or services are distinct and separately identifiable before identifying performance obligations in a contract with a customer. ASU 2016-10 falls under the same guidance as ASU 2015-14. January 1, Alternative The Company is evaluating Standard Description Effective Date for the Company Application Effect on the Consolidated Financial Statements Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting As part of the FASB's simplification initiative, the guidance simplifies the accounting for share-based payment transactions, including income tax consequences, award classification, and classification on the statement of cash flows. Certain amendment topics for simplification apply only to nonpublic entities. Adjustments are reflected as of the beginning of the fiscal year that includes that interim period adopted. Early adoption requires adoption in the same period for all amendments: January 1, (i) Modified retrospective, by means of cumulative effect adjustment; (ii) Retrospective; (iii) Prospective; (iv) Prospective or retrospective The Company early adopted on January 1, 2017. There is no material effect on the Company's future consolidated financial statements and related disclosures. Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (ASU 2016-08) Improves the implementation guidance on the new revenue standard. Under ASU 2016-08, the guidance provides indicators to determine principal versus agent considerations for each distinct good or service provided to a customer. ASU 2016-08 falls under the same guidance as ASU 2015-14. January 1, Alternative The Company is evaluating Leases (Topic 842) (ASU 2016-02) Increases transparency and comparability among organizations. Under ASU 2016-02, presentation of the rights and obligations resulting from lease assets and lease liabilities are required to be recognized on the balance sheet. In addition, organizations are required to disclose key information regarding leasing arrangements. Lessees and lessors are required to use a modified retrospective transition method for existing leases. January 1, Modified retrospective The Company is evaluating Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-01) Enhances the reporting model for financial instruments. The ASU addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The guidance classifies equity securities with readily determinable fair values into categories and require equity securities to be measured at fair value with changes in the fair value recognized through net income. The amendments allow equity investments that do not have readily determinable fair values to be remeasured at fair value either upon the occurrence of an observable price change or upon identification of an impairment and require enhanced disclosures. The amendments improve relevant information about an entity’s equity investments and reducing the number of items that are recognized in other comprehensive income. January 1, Cumulative-effect adjustment to the balance sheet; prospectively for equity securities without readily determinable fair values The Company is evaluating the method of adoption and does not expect the adoption of ASU 2016-02 to have a material effect on its future consolidated financial statements and related disclosures. Standard Description Effective Date for the Company Application Effect on the Consolidated Financial Statements Revenue from Contracts with Customers Provides guidance for revenue recognition. ASU 2015-14 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of non-financial assets and supersedes the revenue recognition requirements in Topic 605, “Revenue Recognition,” and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, “Revenue Recognition-Construction-Type and Production-Type Contracts.” The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under today’s guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. January 1, Alternative The Company is evaluating the method of adoption (full retrospective approach or modified retrospective approach). The primary impact of Topic 606 among homebuilders relates to accounting for common areas (community infrastructure, facilities, etc.) as a separate revenue producing activity. The completion or transfer of common areas to a third party is not considered a revenue recognition event and therefore, the Company does not expect the adoption of ASU 2015-14 to have material effect on its future consolidated financial statements and related disclosures. The Company does not expect to early adopt. Presentation of Financial Statements—Going Concern Requires management to assess a company’s ability to continue as a going concern for each of its interim and annual reporting periods and to provide related footnote disclosures in certain circumstances. Disclosures are required when conditions give rise to substantial doubt about a company’s ability to continue as a going concern. Substantial doubt is deemed to exist when it is probable that the company will be unable to meet its obligations within one year from the financial statement issuance date. December 31, 2016; The Company adopted the standard and performed a formalized going concern analysis for the current reporting period. Other than as described above, no new accounting pronouncement has had or is expected to have a material impact on the Company’s accompanying consolidated financial statements.

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Schedule of other assets	The detail of other assets is set forth below (in thousands): December 31, 2016 December 31, 2015 Customer deposits in escrow $ 2,394 $ 1,834 Prepaid expenses 1,098 2,099 Other deposits and prepaid interest 1,345 466 Funds held in escrow 1,490 1,490 Total $ 6,327 $ 5,889
Receivables	The detail of receivables is set forth below (in thousands): December 31, 2016 December 31, 2015 Warranty insurance receivables $ 1,118 $ — Manufacturer rebates 454 425 Reimbursement for land development work 4,016 — Other receivables 40 892 Total $ 5,628 $ 1,317
Schedule of warranty reserves	Changes in warranty reserves are detailed in the table set forth below (in thousands): December 31, 2016 December 31, 2015 Warranty reserves, beginning of period $ 2,852 $ 1,509 Warranty reserves accrued 2,377 1,507 Warranty expenditures (705 ) (164 ) Additional reserves where corresponding amounts are recorded as receivables from insurance carriers 1,118 — Warranty reserves, end of period $ 5,642 $ 2,852
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Standard Description Effective Date for the Company Application Effect on the Consolidated Financial Statements Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (ASU 2017-04) Simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. Instead, an entity should perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, considering income tax effects, and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. January 1, 2020; early adoption permitted Prospective The Company currently has no goodwill recorded on its financial statements and will evaluate the method of adoption upon a future business combination when goodwill may be recorded. The Company does not expect to early adopt. Business Combinations (Topic 805): Clarifying the Definition of a Business (ASU 2017-01) Clarifies the definition of a business and the evaluation for determining whether transactions are accounted for as acquisitions (or disposals) of assets or businesses. The amendments provide a framework to assist entities in evaluating whether both an input and a substantive process are present to meet the definition of a business. The adoption of this standard will result in less real estate acquisitions qualifying as businesses and, accordingly, acquisition costs for those acquisitions that are not businesses will be capitalized rather than expensed. January 1, Prospective The Company will evaluate the method of adoption upon a future business combination. The Company does not expect to early adopt. Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers (ASU 2016-20) The amendment provides updates to clarify narrow aspects of the ASU 2014-09 guidance. The update includes, but is not limited to, corrections or improvements to: loan guarantee fees, contract costs (impairment testing, interaction of impairment testing with guidance in other topics), provisions for losses on construction or production-type contracts, scope of Topic 606, disclosure of remaining performance obligations, disclosure of prior-period performance obligations, contract modifications, contract asset versus receivable, refund liability and advertising costs. January 1, Alternative The Company is evaluating Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) (ASU 2016-18) Improves the diversity in the classification and presentation of changes in restricted cash in the cash flow statement. Entities are required to explain the change during the period in the total of cash, cash equivalents and restricted cash in the statement of cash flows. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. January 1, Retrospective The Company early adopted on January 1, 2017. There is no material effect on the Company's future consolidated financial statements and related disclosures. Consolidation (Topic 810): Interests Held through Related Parties That Are under Common Control (ASU 2016-17) Amends consolidation guidance on how the reporting entity that is the single decision maker of a VIE should treat indirect interests in the entity held through related parties that are under common control with the reporting entity when determining whether it is the primary beneficiary of that VIE. The primary beneficiary of a VIE is the reporting entity that has a controlling financial interest in a VIE and, therefore, consolidates the VIE. A reporting entity has an indirect interest in a VIE if it has a direct interest in a related party that, in turn, has a direct interest in the VIE. January 1, Retrospective if ASU 2015-02 was previously adopted; or same method of transition elected for ASU 2015-02 upon adoption The Company is evaluating the method of adoption and does not believe there will be a material effect on its future consolidated financial statements and related disclosures, specifically on indirect interests held through related parties under common control. Standard Description Effective Date for the Company Application Effect on the Consolidated Financial Statements Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory Improves the accounting for income tax consequences of intra-entity transfers of assets other than inventory in which an entity should recognize at the occurrence of the transfer. Consequently, the amendments eliminate the exception for an intra-entity transfer of an asset other than inventory. Two common examples of assets included in the scope of the update are intellectual property and property, plant, and equipment. January 1, 2018; Modified retrospective basis through a cumulative-effect adjustment to retained earnings The Company is evaluating the method of adoption and does not believe there will be a material effect on its future consolidated financial statements and related disclosures. The Company does not expect to early adopt. Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments 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; Retrospective The Company is evaluating the method of adoption and the effect on its future consolidated financial statements and related disclosures. The Company does not expect to early adopt. Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients (ASU 2016-12) Under ASU 2016-12, the core principal of Topic 606 has not changed and falls under the same guidance as ASU 2015-14. ASU 2016-12 provides clarification on new accounting guidance for revenue recognition replacing most existing guidance, including industry-specific guidance. Upon adoption, a company will recognize revenue for the transfer of goods or services to customers equal to the amount it expects to be entitled to receive for those goods or services. The guidance also requires additional disclosures about the nature, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. January 1, 2018; early adoption permitted Alternative transition methods available The Company is evaluating the method of adoption and does not believe ASU 2016-12 will have a material effect on its future consolidated financial statements and related disclosures, specifically on collectability, sales taxes and noncash consideration based on industry-specific guidance. The Company expects to adopt the standard as part of its adoption of ASU 2015-14. Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing (ASU 2016-10) Improves the implementation guidance on the new revenue standard. Under ASU 2016-10, the guidance provides clarification on the criteria to assess whether promises to transfer goods or services are distinct and separately identifiable before identifying performance obligations in a contract with a customer. ASU 2016-10 falls under the same guidance as ASU 2015-14. January 1, Alternative The Company is evaluating Standard Description Effective Date for the Company Application Effect on the Consolidated Financial Statements Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting As part of the FASB's simplification initiative, the guidance simplifies the accounting for share-based payment transactions, including income tax consequences, award classification, and classification on the statement of cash flows. Certain amendment topics for simplification apply only to nonpublic entities. Adjustments are reflected as of the beginning of the fiscal year that includes that interim period adopted. Early adoption requires adoption in the same period for all amendments: January 1, (i) Modified retrospective, by means of cumulative effect adjustment; (ii) Retrospective; (iii) Prospective; (iv) Prospective or retrospective The Company early adopted on January 1, 2017. There is no material effect on the Company's future consolidated financial statements and related disclosures. Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (ASU 2016-08) Improves the implementation guidance on the new revenue standard. Under ASU 2016-08, the guidance provides indicators to determine principal versus agent considerations for each distinct good or service provided to a customer. ASU 2016-08 falls under the same guidance as ASU 2015-14. January 1, Alternative The Company is evaluating Leases (Topic 842) (ASU 2016-02) Increases transparency and comparability among organizations. Under ASU 2016-02, presentation of the rights and obligations resulting from lease assets and lease liabilities are required to be recognized on the balance sheet. In addition, organizations are required to disclose key information regarding leasing arrangements. Lessees and lessors are required to use a modified retrospective transition method for existing leases. January 1, Modified retrospective The Company is evaluating Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-01) Enhances the reporting model for financial instruments. The ASU addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The guidance classifies equity securities with readily determinable fair values into categories and require equity securities to be measured at fair value with changes in the fair value recognized through net income. The amendments allow equity investments that do not have readily determinable fair values to be remeasured at fair value either upon the occurrence of an observable price change or upon identification of an impairment and require enhanced disclosures. The amendments improve relevant information about an entity’s equity investments and reducing the number of items that are recognized in other comprehensive income. January 1, Cumulative-effect adjustment to the balance sheet; prospectively for equity securities without readily determinable fair values The Company is evaluating the method of adoption and does not expect the adoption of ASU 2016-02 to have a material effect on its future consolidated financial statements and related disclosures. Standard Description Effective Date for the Company Application Effect on the Consolidated Financial Statements Revenue from Contracts with Customers Provides guidance for revenue recognition. ASU 2015-14 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of non-financial assets and supersedes the revenue recognition requirements in Topic 605, “Revenue Recognition,” and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, “Revenue Recognition-Construction-Type and Production-Type Contracts.” The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under today’s guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. January 1, Alternative The Company is evaluating the method of adoption (full retrospective approach or modified retrospective approach). The primary impact of Topic 606 among homebuilders relates to accounting for common areas (community infrastructure, facilities, etc.) as a separate revenue producing activity. The completion or transfer of common areas to a third party is not considered a revenue recognition event and therefore, the Company does not expect the adoption of ASU 2015-14 to have material effect on its future consolidated financial statements and related disclosures. The Company does not expect to early adopt. Presentation of Financial Statements—Going Concern Requires management to assess a company’s ability to continue as a going concern for each of its interim and annual reporting periods and to provide related footnote disclosures in certain circumstances. Disclosures are required when conditions give rise to substantial doubt about a company’s ability to continue as a going concern. Substantial doubt is deemed to exist when it is probable that the company will be unable to meet its obligations within one year from the financial statement issuance date. December 31, 2016; The Company adopted the standard and performed a formalized going concern analysis for the current reporting period.

Income or Loss Per Share (Table

Income or Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Schedule pro forma basic and diluted earnings per share	Basic and diluted net income or loss per share of Class A common stock for the years ended December 31, 2016 , 2015 and 2014 have been computed as follows (in thousands, except share and per share amounts): For the Year Ended December 31, 2016 2015 2014 Numerator Net income (loss) attributable to UCP, Inc. $ 9,238 $ 2,371 $ (4,993 ) Denominator Weighted average number of shares of Class A common stock outstanding - basic 7,969,028 7,966,765 7,870,269 Effect of dilutive securities: RSUs 95,700 6,723 — Total shares for purpose of calculating diluted net income (loss) per share 8,064,728 7,973,488 7,870,269 Earnings (loss) per share: Net income (loss) per share of Class A common stock - basic $ 1.16 $ 0.30 $ (0.63 ) Net income (loss) per share of Class A common stock - diluted $ 1.15 $ 0.30 $ (0.63 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following RSUs and Options issued were excluded in the computation of diluted EPS for the years ended December 31, 2016 , 2015 and 2014 because the effect would be anti-dilutive: For the Year Ended December 31, 2016 2015 2014 Anti-dilutive securities 250,380 270,718 419,150

Real Estate Inventories (Tables

Real Estate Inventories (Tables)	12 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Schedule of real estate inventory	Real estate inventories consisted of the following (in thousands): December 31, 2016 December 31, 2015 Deposits and pre-acquisition costs $ 9,232 $ 3,836 Land held and land under development 101,609 128,059 Finished lots 86,622 117,335 Homes completed or under construction 148,627 89,866 Model homes 27,117 21,893 Total $ 373,207 $ 360,989
Schedule of interest capitalization	Amounts capitalized to home inventories and land inventories were as follows (in thousands): December 31, 2016 2015 2014 Interest expense capitalized as cost of home inventory $ 10,500 $ 8,940 $ 3,176 Interest expense capitalized as cost of land inventory 2,003 2,627 577 Total interest expense capitalized 12,503 11,567 3,753 Previously capitalized interest expense included in cost of sales - homebuilding (7,737 ) (5,275 ) (2,789 ) Previously capitalized interest expense included in cost of sales - land development (381 ) (317 ) (3 ) Net activity of capitalized interest 4,385 5,975 — 961 Capitalized interest expense in beginning inventory 13,274 7,299 6,338 Capitalized interest expense in ending inventory $ 17,659 $ 13,274 $ 7,299

Fixed Assets, Net (Tables)

Fixed Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of fixed assets	Net fixed assets consisted of the following (in thousands): December 31, 2016 December 31, 2015 Computer hardware and software $ 2,043 $ 1,954 Office furniture and equipment and leasehold improvements 911 834 Vehicles 83 83 Total 3,037 2,871 Accumulated depreciation (2,154 ) (1,557 ) Fixed assets, net $ 883 $ 1,314

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of finite-lived intangible assets acquired as part of business combination	Other purchased intangible assets consisted of the following: December 31, 2016 December 31, 2015 (in thousands) Gross Carrying Amount Accumulated Amortization Ending Balance Gross Carrying Amount Accumulated Amortization Ending Balance Architectural plans $ 170 $ (94 ) $ 76 $ 170 $ (60 ) $ 110 Land option 583 (558 ) 25 583 (457 ) 126 Trademarks and trade names 110 (110 ) — 110 (110 ) — $ 863 $ (762 ) $ 101 $ 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, 2017 $ 34 2018 34 2019 8 Total $ 76
Schedule of Goodwill	The changes in the carrying amount of goodwill for the years ended December 31, 2016 and 2015 were as follows: (in thousands) Goodwill Balance at December 31, 2014 $ 4,223 Goodwill impairment — Balance as of December 31, 2015 $ 4,223 Goodwill impairment (4,223 ) Balance as of December 31, 2016 $ —

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2016
Payables and Accruals [Abstract]
Schedule of accounts payable and accrued liabilities	Accrued liabilities consisted of the following: (in thousands) December 31, 2016 December 31, 2015 Real estate development cost to complete $ 10,347 $ 11,992 Accrued expenses 5,855 5,692 Warranty reserves ( Note 2 ) 5,642 2,852 Contingent consideration ( Note 13 ) 360 2,707 Accrued payroll liabilities 3,138 1,373 Total $ 25,342 $ 24,616

Notes Payable and Senior note31

Notes Payable and Senior notes, net (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of debt	Notes payable and 2017 Notes consisted of the following (in thousands): Variable Interest Rate: December 31, 2016 December 31, 2015 LIBOR + 3.75% through 2016 (a) $ — $ 34,528 Prime+ 1.75% through 2016 (b) — 717 LIBOR + 3.00% through 2016 (a) — 4,832 LIBOR + 3.50% through 2017 (a) 4,693 9,785 LIBOR + 3.75% through 2017 (a) 31,533 18,456 LIBOR + 2.75% through 2018 (a) 10,500 — LIBOR + 3.75% through 2018 (a) 26,444 — 5.50% through 2016 — 2,342 5.50% through 2017 2,476 — 5.00% through 2017 5,607 4,581 Total variable notes payable $ 81,253 $ 75,241 Fixed Interest Rate: December 31, 2016 December 31, 2015 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 of discount 74,871 74,710 Total notes payable and senior notes $ 161,728 $ 157,490 Debt issuance costs (c) (734 ) (1,524 ) Total notes payable and senior notes, net $ 160,994 $ 155,966 (a) As of December 31, 2016 , the 30-day LIBOR rate was 0.77167% . (b) At December 31, 2016 , the U.S. Prime rate was 3.75% . (c) Debt issuance costs for non-revolver loans were $0.7 million and $1.5 million as of December 31, 2016 and 2015 , respectively; and $0.6 million and $0.2 million for revolver loans as of December 31, 2016 and 2015 , respectively.
Schedule of maturities of long-term debt	As of December 31, 2016 , principal maturities of notes payable and senior notes for the years ending December 31 are as follows (in thousands): 2017 $ 120,785 2018 40,943 2019 and thereafter — Total $ 161,728

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	12 Months Ended
	Dec. 31, 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: December 31, 2016 December 31, 2015 (in thousands) Level in Fair Value Hierarchy Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Notes payable Level 3 $ 86,857 $ 86,843 $ 82,780 $ 84,712 2017 notes Level 3 74,871 74,838 74,710 82,057 Total debt $ 161,728 $ 161,681 $ 157,490 $ 166,769
Fair value measurements, recurring	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 at December 31, 2016 Contingent consideration — — $ 360 $ 360 Description Level 1 Level 2 Level 3 Balance at 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 relating to the Citizens Acquisition for the years ended December 31, 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 December 31, 2015 $ 2,707 Change in fair value (2,347 ) Balance as of December 31, 2016 $ 360
Fair value measurements, nonrecurring	The following presents the Company’s non-financial instruments that were measured at fair value, on a non-recurring basis, by level within the fair value hierarchy (in thousands): Description Level 1 Level 2 Level 3 Total Impairment During the Year Ended December 31, 2016 Real estate and development costs - Heathers at Westport project $ 1,066 $ 192 Real estate and development costs - Sundance project $ 5,782 $ 2,397 Description Level 1 Level 2 Level 3 Total Impairment During the Year Ended December 31, 2015 Real estate and development costs - River Run project $ 5,960 $ 923

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2016
Noncontrolling Interest [Abstract]
Schedule of initial carrying value of noncontrolling interest	The carrying value and ending balance as of December 31, 2016 and 2015 of the noncontrolling interest was calculated as follows (in thousands): December 31, 2016 December 31, 2015 Beginning balance of noncontrolling interest $ 127,208 $ 124,012 Net income attributable to noncontrolling interest 5,210 3,412 Re-allocation of stock issuances (1,962 ) — Stock-based compensation expense attributable to noncontrolling interest 657 977 Stock issuance attributable to noncontrolling interest (25 ) (211 ) Distribution to noncontrolling interest (4,830 ) (982 ) Ending balance $ 126,258 $ 127,208

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of award activity	The following table summarizes the RSU activity for the years ended December 31, 2016 , 2015 and 2014 : Number of Shares Weighted Average Grant Date Fair Value Outstanding and unvested at December 31, 2013 289,555 $ 15.00 Granted 66,561 16.00 Vested (148,778 ) 15.00 Forfeited (16,898 ) 15.41 Outstanding and unvested at December 31, 2014 190,440 $ 15.31 Granted 1,237 7.98 Vested (143,146 ) 15.02 Forfeited — — Outstanding and unvested at December 31, 2015 48,531 $ 15.99 Granted 271,635 8.04 Vested (35,853 ) 12.17 Forfeited — — Outstanding and unvested at December 31, 2016 284,313 $ 8.88
Schedule of valuation assumptions	The assumptions used to estimate the fair value of Options granted during the years ended December 31, 2015 and 2014 were as follows: As of December 31, 2015 2014 Expected term 6.5 years 6.5 years Expected volatility % 55.00 % 53.46 % Risk free interest rate % 1.61 % 1.81 % Dividend yield % — —
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of award activity	The following table summarizes the Options activity for the years ended December 31, 2016 , 2015 , and 2014 : Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) (1) Outstanding at December 31, 2013 — — — — Options granted 166,081 $ 16.20 9.16 — Options exercised — — — — Options forfeited (16,476 ) — — — Outstanding at December 31, 2014 149,605 $ 16.20 9.16 — Options granted 71,429 8.97 — — Options exercised — — — — Options forfeited (71,429 ) (8.97 ) — — Outstanding at December 31, 2015 149,605 $ 16.20 8.20 — Options granted — — — — Options exercised — — — — Options forfeited — — — — Options expired (32,953 ) — — — Outstanding at December 31, 2016 116,652 $ 16.20 7.20 — Options vested and exercisable as of December 31, 2016 34,996 $ 16.20 — — Options expected to vest as of December 31, 2016 81,656 (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 December 31, 2016 was $12.05 per share.

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of financial information relating to segments	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 Financial information relating to reportable segments is as follows: Revenues Gross Margin (in thousands) 2016 2015 2014 2016 2015 2014 Homebuilding West $ 289,037 $ 191,884 $ 128,334 $ 54,392 $ 35,666 $ 21,858 Southeast 54,882 60,713 27,083 8,455 9,261 3,982 Total homebuilding 343,919 252,597 155,417 62,847 44,927 25,840 Land development West 5,449 21,074 32,513 (930 ) 5,853 7,047 Southeast — 60 — (389 ) (10 ) — Total land development 5,449 21,134 32,513 (1,319 ) 5,843 7,047 Other (a) — 5,060 3,253 — 697 425 Total $ 349,368 $ 278,791 $ 191,183 $ 61,528 $ 51,467 $ 33,312 (a) Other includes revenues from construction management services which relate to the Citizens Acquisition and is not attributable to the homebuilding and land development operations. Reconciliation of gross margin to net income (loss) is as follows: For the Year Ended December 31, (in thousands) 2016 2015 2014 Gross margin $ 61,528 $ 51,467 $ 33,312 Sales and marketing 19,257 18,943 13,748 General and administrative 29,161 26,878 27,406 Goodwill impairment 4,223 — — Income (loss) from operations 8,887 5,646 (7,842 ) Other income, net 276 206 121 Net income (loss) before income taxes 9,163 5,852 (7,721 ) Benefit (provision) for income taxes 5,285 (69 ) — Net income (loss) $ 14,448 $ 5,783 $ (7,721 ) Total assets for each reportable and operating segment as of December 31, 2016 , 2015 and 2014 , are shown in the table below: At December 31, (in thousands) 2016 2015 2014 Homebuilding West $ 225,770 $ 231,624 $ 218,902 Southeast 53,359 49,464 47,004 Total homebuilding 279,129 281,088 265,906 Land development West 94,078 79,901 55,787 Southeast — — — Total land development 94,078 79,901 55,787 Other (a) 60,899 53,708 53,446 Total $ 434,106 $ 414,697 $ 375,139 (a) Other assets primarily include cash and cash equivalents, deposits, fixed assets, receivables and deferred tax assets which are maintained centrally and used according to the cash flow requirements of all reportable segments.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 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): 2017 $ 928 2018 829 2019 403 2020 275 2021 89 thereafter — Total $ 2,524

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of components of income tax expense (benefit)	The components of continuing income or loss before income taxes were as follows for the years ended December 31, 2016 , 2015 and 2014 (in thousands): 2016 2015 2014 Current Expense: Federal $ 152 $ 58 $ — State 45 11 — Total Current Expense $ 197 $ 69 $ — Deferred Expense: Federal (4,795 ) — — State (687 ) — — Total Deferred Expense (5,482 ) — — Total income tax expense (benefit) $ (5,285 ) $ 69 $ —
Schedule of effective income tax rate reconciliation	A reconciliation of income tax computed at the statutory federal income tax rate to the provision (benefit) for income taxes included in the accompanying consolidated state ments of operations and comprehensive income or loss is as follows for the years ended December 31, 2016 , 2015 and 2014 : 2016 2015 2014 Income tax (benefit) provision at federal statutory rate 35 % 35 % 35 % State income tax, net of federal benefit (7 )% — % — % Change in valuation allowance (74 )% (12 )% (22 )% Noncontrolling interest (20 )% (20 )% (12 )% Other permanent items 8 % (2 )% (1 )% Effective tax rate (58 )% 1 % — %
Schedule of deferred tax assets and liabilities	Total deferred tax assets and liabilities consist of the following as of December 31, 2016 , 2015 and 2014 (in thousands): 2016 2015 2014 Deferred tax assets: Net operating loss and tax credit carry forwards $ 252 $ 2,213 $ 3,317 Outside basis difference in partnership 5,214 5,391 5,192 Other 16 26 83 Total deferred tax assets 5,482 7,630 8,592 Valuation allowance — (7,630 ) (8,592 ) Net deferred tax assets $ 5,482 $ — $ —
Summary of operating loss carryforwards	The Company has the following federal, California and other state net operating loss carryforwards, and federal and state minimum tax and general business credits, as of December 31, 2016 , which will expire on various dates as follows (in thousands): As of December 31, 2016 2015 2014 Federal net operating losses $ — $ 4,549 $ 7,286 California net operating losses 1,588 5,417 7,003 Other state net operating losses — 232 725 Federal general business credits 84 291 290 Federal AMT credits 54 54 — State AMT credits 36 11 —
Summary of tax credit carryforwards	The Company has the following federal, California and other state net operating loss carryforwards, and federal and state minimum tax and general business credits, as of December 31, 2016 , which will expire on various dates as follows (in thousands): As of December 31, 2016 2015 2014 Federal net operating losses $ — $ 4,549 $ 7,286 California net operating losses 1,588 5,417 7,003 Other state net operating losses — 232 725 Federal general business credits 84 291 290 Federal AMT credits 54 54 — State AMT credits 36 11 —

Quarterly Financial Data (Una38

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial data	The following tables present certain unaudited consolidated quarterly financial information for each of the four fiscal quarters in the fiscal year ended December 31, 2016 and December 31, 2015 . This quarterly information has been prepared on the same basis as the audited consolidated financial statements and includes all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the information for the periods presented. The results for these quarterly periods are not necessarily indicative of the operating results for a full year or any future period. Three Months Ended March 31, June 30, 2016 September 30, 2016 December 31, 2016 (In thousands, except per share data) (Unaudited) Homebuilding revenue $ 68,225 $ 81,415 $ 89,840 $ 104,438 Land development revenue — 1,422 3,900 127 Other revenue — — — — Total revenue 68,225 82,837 93,740 104,565 Cost of sales – homebuilding 56,206 66,370 72,984 85,053 Cost of sales – land development 461 225 3,834 118 Cost of sales – other revenue — — — — Impairment on real estate — 2,397 192 — (a) Total cost of sales 56,667 68,992 77,010 85,171 Gross margin – homebuilding 12,019 15,045 16,856 19,385 Gross margin – land development (461 ) 1,197 66 9 Gross margin – other revenue — — — — Gross margin - impairment on real estate — (2,397 ) (192 ) — Total gross margin 11,558 13,845 16,730 19,394 Sales and marketing expenses 4,076 4,667 4,853 5,662 General and administrative expenses 7,275 7,234 4,592 10,060 Goodwill impairment — — 4,223 — Total expenses 11,351 11,901 13,668 15,722 Other income 28 22 204 23 Net income (loss) before income taxes $ 235 $ 1,966 $ 3,266 $ 3,695 Benefit (provision) for income taxes (5 ) (141 ) (124 ) 5,556 (b) Net income (loss) $ 230 $ 1,825 $ 3,142 $ 9,251 Net income (loss) attributable to UCP, Inc. $ 96 $ 706 $ 1,285 $ 7,151 Net income (loss) per common share: Basic $ 0.01 $ 0.09 $ 0.16 $ 0.90 Diluted $ 0.01 $ 0.09 $ 0.16 $ 0.89 * The quarterly financial data above may not total to the accompanying consolidated statements of operations and comprehensive income or loss or the accompanying gross margin schedule due to rounding. (a) The impairment on real estate in which the carrying value of inventories were written down to its estimated fair values. See Note 2 , “Summary of Significant Accounting Policies” and Note 9 , “Fair Value Disclosures--Non-Financial Instruments Carried at Fair Value--Non-Recurring Estimated Fair Value of Real Estate Inventories” to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further discussion of the impairment of real estate inventories. (b) The tax benefit was primarily the result of the valuation allowance reversal against the Company’s deferred tax assets. See Note 14 , “Income Taxes” and Note 15 , "Deferred Tax Asset Valuation Allowance" to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for a further discussion of the Company’s income taxes and the valuation allowance reversal for the applicable period. Three Months Ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 (In thousands, except per share data) (Unaudited) Homebuilding revenue $ 42,635 $ 50,785 $ 70,284 $ 88,892 Land development revenue 120 1,920 1,116 17,978 Other revenue 768 2,021 2,272 — Total revenue 43,523 54,726 73,672 106,870 Cost of sales – homebuilding 35,618 42,120 57,006 72,003 Cost of sales – land development 5 1,543 716 13,027 Cost of sales – other revenue 663 1,742 1,958 — Impairment on real estate — — — 923 Total cost of sales 36,286 45,405 59,680 85,953 Gross margin – homebuilding 7,017 8,665 13,278 16,889 Gross margin – land development 115 377 400 4,951 Gross margin – other revenue 105 279 314 — Gross margin - impairment on real estate — — — (923 ) (a) Total gross margin 7,237 9,321 13,992 20,917 Sales and marketing expenses 4,196 4,357 4,692 5,697 General and administrative expenses 7,320 6,453 5,539 7,567 Total expenses 11,516 10,810 10,231 13,264 Other income 102 30 45 29 Net income (loss) before income taxes $ (4,177 ) $ (1,459 ) $ 3,806 $ 7,682 Benefit (provision) for income taxes — — — (69 ) Net income (loss) $ (4,177 ) $ (1,459 ) $ 3,806 $ 7,613 Net income (loss) attributable to UCP, Inc. $ (1,840 ) $ (668 ) $ 1,639 $ 3,240 Net income (loss) per common share: Basic $ (0.23 ) $ (0.08 ) $ 0.20 $ 0.40 Diluted $ (0.23 ) $ (0.08 ) $ 0.20 $ 0.40 * The quarterly financial data above may not total to the accompanying consolidated statements of operations and comprehensive income or loss or the accompanying gross margin schedule due to rounding. (a) The impairment on real estate in which the carrying value of inventories were written down to its estimated fair values. See Note 2 , “Summary of Significant Accounting Policies” and Note 9 , “Fair Value Disclosures--Non-Financial Instruments Carried at Fair Value--Non-Recurring Estimated Fair Value of Real Estate Inventories” to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further discussion of the impairment of real estate inventories.

Description of Business and N39

Description of Business and Nature of Operations (Details) $ / shares in Units, $ in Thousands	Jul. 23, 2013USD ($)$ / sharesshares	Dec. 31, 2016USD ($)vote / sharesregionclass_of_stock$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)shares	Dec. 31, 2013shares
Property, Plant and Equipment [Line Items]
Number of geographical regions | region		2
Proceeds | $	$ 105,500
Share price (in dollars per share) | $ / shares		$ 12.05
Distributions | $		$ 4,830	$ 982	$ 674
Number of classes of stock | class_of_stock		2
Preferred stock, shares authorized		50,000,000	50,000,000
Stock exchange ratio		1
Options granted (shares)		0	71,429	166,081
Cash payment from subsidiary for increase in tax basis		85.00%
Cash savings realized from increase in tax basis		15.00%
Agreement period		15 years
Ownersihp for right to nominate two board members		25.00%
Ownership for right to nominate one director		10.00%
UCP LLC
Property, Plant and Equipment [Line Items]
Economic interest percentage	42.30%	43.20%	43.10%
Class A
Property, Plant and Equipment [Line Items]
Common stock, par value (in dollars per share) | $ / shares		$ 0.01	$ 0.01
Economic interest rights held		100.00%
Incremental shares attributable to contingently exchangeable shares (shares)		18,635,834
Class A | Common stock
Property, Plant and Equipment [Line Items]
Stock issuance (in shares)	7,750,000	28,400	92,218	172,216
Class B
Property, Plant and Equipment [Line Items]
Common stock, par value (in dollars per share) | $ / shares		$ 0.01	$ 0.01
Number of votes per share | vote / shares		1
Class B | Common stock
Property, Plant and Equipment [Line Items]
Stock issuance (in shares)		100
Series A Units
Property, Plant and Equipment [Line Items]
Reclassified (shares)	10,593,000
IPO
Property, Plant and Equipment [Line Items]
Common stock, par value (in dollars per share) | $ / shares	$ 0.01
Share price (in dollars per share) | $ / shares	$ 15
Subsidiaries
Property, Plant and Equipment [Line Items]
Ownership percentage	57.70%	56.80%	56.90%
Restricted Stock Units (RSUs)
Property, Plant and Equipment [Line Items]
Granted (in shares)		271,635	1,237	66,561
Long-Term Incentive Plan | Restricted Stock Units (RSUs)
Property, Plant and Equipment [Line Items]
Granted (in shares)					430,333
UCP LLC
Property, Plant and Equipment [Line Items]
Distributions | $		$ 3,700	$ 700
London Interbank Offered Rate (LIBOR)
Property, Plant and Equipment [Line Items]
Variable discount rate		1.00%

Summary of Significant Accoun40

Summary of Significant Accounting Policies (Details)	3 Months Ended								12 Months Ended
	Dec. 31, 2016USD ($)lotproperty	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)lot	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)lotdirectorsegmentregionproperty	Dec. 31, 2015USD ($)lot	Dec. 31, 2014USD ($)	Jun. 07, 2016USD ($)	Jul. 23, 2013
Property, Plant and Equipment [Line Items]
Number of geographical regions | region									2
Number of reportable segments | segment									2
Restricted cash	$ 1,547,000				$ 900,000				$ 1,547,000	$ 900,000
Money market funds	15,100,000								15,100,000
Advertising expense									2,300,000	2,000,000
Impairment on real estate inventories	$ 0	$ 192,000	$ 2,397,000	$ 0	$ 923,000	$ 0	$ 0	$ 0	$ 2,589,000	$ 923,000	$ 0
Number of land purchase contracts | lot	2,607				1,127				2,607	1,127
Abandonment charges									$ 523,000	$ 152,000	173,000
Goodwill impairment	$ 0	4,223,000	$ 0	$ 0					4,223,000	0	0
Warranty insurance receivables									1,118,000	0
Reimbursement for land development work	4,016,000				$ 0				4,016,000	0
Debt issuance costs	$ 734,000				$ 1,524,000				734,000	1,524,000
Authorized amount		$ 5,000,000										$ 5,000,000
Reversal of allowance									$ 5,500,000
Minimum
Property, Plant and Equipment [Line Items]
Weighted average useful life									6 months
Maximum
Property, Plant and Equipment [Line Items]
Weighted average useful life									5 years
Computer hardware and software | Minimum
Property, Plant and Equipment [Line Items]
Fixed asset useful life									3 years
Computer hardware and software | Maximum
Property, Plant and Equipment [Line Items]
Fixed asset useful life									5 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
Leasehold Improvements | Minimum
Property, Plant and Equipment [Line Items]
Fixed asset useful life									1 year
Leasehold Improvements | Maximum
Property, Plant and Equipment [Line Items]
Fixed asset useful life									5 years
Goodwill | Income Approach Valuation Technique
Property, Plant and Equipment [Line Items]
Expected term									10 years
Sundance
Property, Plant and Equipment [Line Items]
Impairment on real estate inventories									$ 2,397,000
Impairment related to sale									2,100,000
Writedown									$ 300,000
Number of land purchase contracts | lot	65								65
Heathersport
Property, Plant and Equipment [Line Items]
Impairment on real estate inventories									$ 192,000
Number of homes with adjustments to fair value | property	4								4
Affiliated Entity
Property, Plant and Equipment [Line Items]
Number of directors to elect | director									2
Voting interest threshold									25.00%
Right to cash savings on tax									85.00%
Parent Company
Property, Plant and Equipment [Line Items]
Administrative support services expense										$ 119,000	$ 615,000
Subsidiaries
Property, Plant and Equipment [Line Items]
Ownership percentage	56.80%				56.90%				56.80%	56.90%			57.70%

Summary of Significant Accoun41

Summary of Significant Accounting Policies Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Customer deposits in escrow	$ 2,394	$ 1,834
Prepaid expenses	1,098	2,099
Other deposits and prepaid interest	1,345	466
Funds held in escrow	1,490	1,490
Total	$ 6,327	$ 5,889

Summary of Significant Accoun42

Summary of Significant Accounting Policies - Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Warranty insurance receivables	$ 1,118	$ 0
Manufacturer rebates	454	425
Reimbursement for land development work	4,016	0
Other receivables	40	892
Receivables	$ 5,628	$ 1,317

Summary of Significant Accoun43

Summary of Significant Accounting Policies Warranty Reserves (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Warranty reserves, beginning of period	$ 2,852	$ 1,509
Warranty reserves accrued	2,377	1,507
Warranty expenditures	(705)	(164)
Additional reserves where corresponding amounts are recorded as receivables from insurance carriers	1,118	0
Warranty reserves, end of period	$ 5,642	$ 2,852

Income or Loss Per Share - Prof

Income or Loss Per Share - Proforma Earnings (Loss) per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Numerator
Net income (loss) attributable to UCP, Inc.	$ 7,151	$ 1,285	$ 706	$ 96	$ 3,240	$ 1,639	$ (668)	$ (1,840)	$ 9,238	$ 2,371	$ (4,993)
Denominator
Weighted average number of shares of Class A common stock outstanding - basic (in shares)									7,969,028	7,966,765	7,870,269
Total shares for purpose of calculating diluted net income (loss) per share (shares)									8,064,728	7,973,488	7,870,269
Net income (loss) per share of Class A common stock - basic ($ per share)	$ 0.90	$ 0.16	$ 0.09	$ 0.01	$ 0.40	$ 0.20	$ (0.08)	$ (0.23)	$ 1.16	$ 0.30	$ (0.63)
Net income (loss) per share of Class A common stock - diluted ($ per share)	$ 0.89	$ 0.16	$ 0.09	$ 0.01	$ 0.40	$ 0.20	$ (0.08)	$ (0.23)	1.15	0.30	(0.63)
Class A
Denominator
Net income (loss) per share of Class A common stock - basic ($ per share)									$ 1.16	$ 0.30	$ (0.63)
Anti-dilutive securities (shares)									250,380	270,718	419,150
Restricted Stock Units (RSUs)
Denominator
Effect of dilutive securities (shares)									95,700	6,723	0

Real Estate Inventories - Real

Real Estate Inventories - Real Estate Inventory (Details) $ in Thousands	Dec. 31, 2016USD ($)lot	Dec. 31, 2015USD ($)lot
Real Estate [Abstract]
Deposits and pre-acquisition costs	$ 9,232	$ 3,836
Land held and land under development	101,609	128,059
Finished lots	86,622	117,335
Homes completed or under construction	148,627	89,866
Model homes	27,117	21,893
Total Inventory	373,207	360,989
Deposits on land purchase contracts	$ 9,200	$ 3,800
Number of land purchase contracts | lot	2,607	1,127
Aggregate land purchase contracts, net	$ 106,000	$ 80,100
Inventories	21,100	31,400
Homes under contract	$ 9,300	$ 11,600
Homes under contract	44.10%	36.90%
Unsold homes	$ 11,800	$ 19,800
Unsold homes	55.90%	63.10%

Real Estate Inventories - Inter

Real Estate Inventories - Interest Capitalization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Real Estate [Abstract]
Interest paid, net of amounts capitalized	$ 12,503	$ 11,567	$ 3,753
Real Estate Inventory, Capitalized Interest Costs [Roll Forward]
Interest expense capitalized as cost of home inventory	10,500	8,940	3,176
Interest expense capitalized as cost of land inventory	2,003	2,627	577
Total interest expense capitalized	12,503	11,567	3,753
Previously capitalized interest expense included in cost of sales - homebuilding	(7,737)	(5,275)	(2,789)
Previously capitalized interest expense included in cost of sales - land development	(381)	(317)	(3)
Net activity of capitalized interest	4,385	5,975	961
Capitalized interest expense in beginning inventory	13,274	7,299	6,338
Capitalized interest expense in ending inventory	$ 17,659	$ 13,274	$ 7,299

Fixed Assets, Net (Details)

Fixed Assets, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 3,037	$ 2,871
Accumulated depreciation	(2,154)	(1,557)
Fixed assets, net	883	1,314
Depreciation	597	588	$ 463
Computer hardware and software
Property, Plant and Equipment [Line Items]
Fixed assets, gross	2,043	1,954
Office furniture and equipment and leasehold improvements
Property, Plant and Equipment [Line Items]
Fixed assets, gross	911	834
Vehicles
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 83	$ 83

Intangible Assets Narrative (De

Intangible Assets Narrative (Details) - USD ($)	3 Months Ended				12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Exercise of land purchase options acquired with acquisition of business					$ 86,000	$ 196,000	$ 141,000
Goodwill impairment	$ 0	$ 4,223,000	$ 0	$ 0	4,223,000	0	0
Abandonment charges					$ 523,000	152,000	$ 173,000
Citizen's Homes, Inc.
Business Acquisition [Line Items]
Weighted average useful life					5 years
Growth rate					4.50%
Abandonment charges					$ 15,000	119,000
Citizen's Homes, Inc. | Trademarks and trade names
Business Acquisition [Line Items]
Amortization of intangibles					34,000,000	34,000
Citizen's Homes, Inc. | Land option
Business Acquisition [Line Items]
Exercise of land purchase options acquired with acquisition of business					$ 86,000	$ 196,000
Goodwill | Income Approach Valuation Technique
Business Acquisition [Line Items]
Expected term					10 years
Discount rate					14.50%
Growth rate					2.00%

Intangible Assets Intangibles (

Intangible Assets Intangibles (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Ending Balance	$ 101	$ 236
Citizen's Homes, Inc.
Business Acquisition [Line Items]
Gross Carrying Amount	863	863
Accumulated Amortization	(762)	(627)
Ending Balance	101	236
Architectural plans | Citizen's Homes, Inc.
Business Acquisition [Line Items]
Gross Carrying Amount	170	170
Accumulated Amortization	(94)	(60)
Ending Balance	76	110
Land option | Citizen's Homes, Inc.
Business Acquisition [Line Items]
Gross Carrying Amount	583	583
Accumulated Amortization	(558)	(457)
Ending Balance	25	126
Trademarks and trade names | Citizen's Homes, Inc.
Business Acquisition [Line Items]
Gross Carrying Amount	110	110
Accumulated Amortization	(110)	(110)
Ending Balance	$ 0	$ 0

Intangible Assets Future Amorti

Intangible Assets Future Amortization Expense (Details) - Citizen's Homes, Inc. $ in Thousands	Dec. 31, 2016USD ($)
Business Acquisition [Line Items]
2,017	$ 34
2,018	34
2,019	8
Total	$ 76

Intangible Assets Goodwill (Det

Intangible Assets Goodwill (Details) - USD ($)	3 Months Ended				12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Goodwill [Roll Forward]
Goodwill				$ 4,223,000	$ 4,223,000	$ 4,223,000
Goodwill impairment	$ 0	$ (4,223,000)	$ 0	$ 0	(4,223,000)	0	$ 0
Goodwill	$ 0				$ 0	$ 4,223,000	$ 4,223,000

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Real estate development cost to complete	$ 10,347	$ 11,992
Accrued expenses	5,855	5,692
Warranty reserves	5,642	2,852	$ 1,509
Contingent consideration	360	2,707
Accrued payroll liabilities	3,138	1,373
Total liabilities	$ 25,342	$ 24,616

Notes Payable and Senior note53

Notes Payable and Senior notes, net (Details) - USD ($)	Oct. 21, 2014	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Aggregate loan commitments		$ 164,000,000	$ 157,900,000
Unused loan commitments		$ 77,200,000	$ 75,100,000
Weighted average interest rate		6.48%	6.35%
Minimum
Debt Instrument [Line Items]
Debt, variable interest rate		2.75%
Maximum
Debt Instrument [Line Items]
Debt, variable interest rate		3.75%
2017 notes
Debt Instrument [Line Items]
Debt maturing within the year		$ 46,000,000
Eight and a Half Percent Senior Notes Due in 2017 | 2017 notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 75,000,000
Interest rate	8.50%
Proceeds from Issuance of Debt	$ 72,500,000
Redemption price percentage		100.00%
Change of control, redemption price percentage		101.00%
Change of control, voting interests needed to be acquired		35.00%
Maximum debt to tangible assets ratio		45.00%
Maximum secured debt allowed		$ 75,000,000
Maximum secured debt to tangible assets ratio allowed		30.00%
Maximum annual acquisition of unimproved real property allowed		$ 75,000,000
Maximum acquisition of improved real property over term of debt allowed		150,000,000
Minimum tangible assets no subject to debt-secured liens required		50,000,000
Minimum net worth required		175,000,000
Minimum cash and equivalents required		15,000,000
Maximum annual decrease in tangible assets allowed		25,000,000
Maximum decrease in tangible assets over term of debt allowed		$ 50,000,000
Prime Rate
Debt Instrument [Line Items]
Debt, variable interest rate		1.75%

Notes Payable and Senior note54

Notes Payable and Senior notes, net - Long Term Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Notes payable, net	$ 86,658	$ 82,486
Long-term debt	160,994	155,966
Long-term debt, gross	161,728	157,490
Debt issuance costs	(734)	(1,524)
Variable Interest Rate:
Debt Instrument [Line Items]
Notes payable, net	81,253	75,241
Variable Interest Rate: | LIBOR 3.75% through 2016
Debt Instrument [Line Items]
Notes payable, net	$ 0	34,528
Interest rate	3.75%
Variable Interest Rate: | PRIME 1.75% through 2016
Debt Instrument [Line Items]
Notes payable, net	$ 0	717
Interest rate	1.75%
Variable Interest Rate: | LIBOR 3.00% through 2016
Debt Instrument [Line Items]
Notes payable, net	$ 0	4,832
Interest rate	3.00%
Variable Interest Rate: | LIBOR 3.50% through 2017
Debt Instrument [Line Items]
Notes payable, net	$ 4,693	9,785
Interest rate	3.50%
Variable Interest Rate: | LIBOR 3.75% through 2017
Debt Instrument [Line Items]
Notes payable, net	$ 31,533	18,456
Interest rate	3.75%
Variable Interest Rate: | LIBOR 2.75% through 2018
Debt Instrument [Line Items]
Notes payable, net	$ 10,500	0
Interest rate	2.75%
Variable Interest Rate: | LIBOR 3.75% through 2018
Debt Instrument [Line Items]
Notes payable, net	$ 26,444	0
Interest rate	3.75%
Variable Interest Rate: | 5.50% through 2016
Debt Instrument [Line Items]
Notes payable, net	$ 0	2,342
Interest rate	5.50%
Variable Interest Rate: | 5.50% through 2017
Debt Instrument [Line Items]
Notes payable, net	$ 2,476	0
Variable Interest Rate: | 5.00% through 2017
Debt Instrument [Line Items]
Notes payable, net	$ 5,607	4,581
Interest rate	5.00%
Fixed Interest Rate:
Debt Instrument [Line Items]
Notes payable, net	$ 5,604	7,539
Fixed Interest Rate: | 10.00% through 2017
Debt Instrument [Line Items]
Notes payable, net	$ 1,604	1,604
Interest rate	10.00%
Fixed Interest Rate: | 0.00% through 2017
Debt Instrument [Line Items]
Notes payable, net	$ 0	1,935
Interest rate	0.00%
Fixed Interest Rate: | 8.00% through 2018
Debt Instrument [Line Items]
Notes payable, net	$ 4,000	4,000
Interest rate	8.00%
2017 notes
Debt Instrument [Line Items]
Long-term debt	$ 74,871	74,710
Revolver
Debt Instrument [Line Items]
Debt issuance costs	$ (600)	$ (200)
Maximum
Debt Instrument [Line Items]
Basis spread	3.75%
Prime Rate
Debt Instrument [Line Items]
Basis spread	1.75%

Notes Payable and Senior note55

Notes Payable and Senior notes, net - Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
2,017	$ 120,785
2,018	40,943
2019 and thereafter	0
Long-term debt	$ 161,728	$ 157,490

Fair Value Disclosures (Details

Fair Value Disclosures (Details)	3 Months Ended								12 Months Ended
	Dec. 31, 2016USD ($)property	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration liability	$ 360,000				$ 2,707,000				$ 360,000	$ 2,707,000
Fair value adjustment of contingent consideration									(2,347,000)	(818,000)	$ (377,000)
Impairment on real estate inventories	0	$ 192,000	$ 2,397,000	$ 0	923,000	$ 0	$ 0	$ 0	2,589,000	923,000	0
Citizen's Homes, Inc.
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration, high	6,000,000								$ 6,000,000
Performance period									5 years
Contingent consideration, low	$ 0								$ 0
Contingent consideration liability											$ 3,525,000
Fair value adjustment of contingent consideration									$ (2,347,000)	(818,000)
Growth rate									4.50%
Cost inflation									1.50%
Contingent Consideration Liability | Citizen's Homes, Inc.
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discount rate									13.50%
Volatility rate									19.10%
Entity credit risk									11.00%
Minimum | Contingent Consideration Liability | Citizen's Homes, Inc.
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discount rate									13.50%
Maximum | Contingent Consideration Liability | Citizen's Homes, Inc.
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discount rate									14.20%
Heathersport
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discount rate									12.00%
Impairment on real estate inventories									$ 192,000
Number of homes with adjustments to fair value | property	4								4
Sundance
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discount rate									8.00%
Impairment related to sale									$ 2,100,000
Impairment on real estate inventories									2,397,000
Writedown									300,000
Level 3 | Citizen's Homes, Inc.
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration liability	$ 360,000				$ 2,707,000				$ 360,000	$ 2,707,000

Fair Value Disclosures - Debt t

Fair Value Disclosures - Debt table (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 160,994	$ 155,966
2017 notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	74,871	74,710
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	161,728	157,490
Carrying Value | Notes payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	86,857	82,780
Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	161,681	166,769
Estimated Fair Value | Notes payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	86,843	84,712
Estimated Fair Value | 2017 notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 74,838	$ 82,057

Fair Value Disclosures - Hierar

Fair Value Disclosures - Hierarchy table (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	$ 360	$ 2,707
Citizen's Homes, Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration			$ 3,525
Level 3 | Citizen's Homes, Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	$ 360	$ 2,707

Fair Value Disclosures - Contin

Fair Value Disclosures - Contingent consideration (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Combination, Contingent Consideration, Change [Roll Forward]
Beginning balance	$ 2,707
Fair value adjustment of contingent consideration	(2,347)	$ (818)	$ (377)
Ending balance	360	2,707
Citizen's Homes, Inc.
Business Combination, Contingent Consideration, Change [Roll Forward]
Beginning balance		3,525
Fair value adjustment of contingent consideration	(2,347)	(818)
Ending balance			$ 3,525
Level 3 | Citizen's Homes, Inc.
Business Combination, Contingent Consideration, Change [Roll Forward]
Beginning balance	2,707
Ending balance	$ 360	$ 2,707

Fair Value Disclosures - Nonrec

Fair Value Disclosures - Nonrecurring table (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment on real estate inventories	$ 0	$ 192	$ 2,397	$ 0	$ 923	$ 0	$ 0	$ 0	$ 2,589	$ 923	$ 0
Heathersport
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment on real estate inventories									192
Heathersport | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate and development costs	1,066								1,066
Sundance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment on real estate inventories									2,397
Sundance | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate and development costs	$ 5,782								$ 5,782
River Run
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment on real estate inventories										923
River Run | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate and development costs					$ 5,960					$ 5,960

Equity (Details)

Equity (Details) - USD ($)	7 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Sep. 30, 2016	Jun. 07, 2016	Jul. 23, 2013
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance of noncontrolling interest		$ 127,208,000	$ 124,012,000
Net income attributable to noncontrolling interest		5,210,000	3,412,000	$ (2,728,000)
Re-allocation of stock issuances		(1,962,000)	0
Stock-based compensation expense		1,155,000	1,710,000	3,565,000
Stock issuance attributable to noncontrolling interest		(45,000)	(370,000)	(1,619,000)
Distribution to noncontrolling interest		(4,830,000)	(982,000)	(674,000)
Ending balance	$ 126,258,000	126,258,000	127,208,000	124,012,000
Authorized amount					$ 5,000,000	$ 5,000,000
Repurchased		1,250,000
Remaining authorization	3,800,000	3,800,000
Noncontrolling interest
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Stock-based compensation expense		657,000	977,000	1,753,000
Stock issuance attributable to noncontrolling interest		(25,000)	(211,000)	(801,000)
Treasury stock
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Repurchased	$ 1,200,000	1,250,000
Class A | Common stock
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Stock issuance attributable to noncontrolling interest		$ 0	$ 1,000	$ 1,000
Repurchased (shares)	146,346	146,346	0
Subsidiaries
Noncontrolling Interest [Line Items]
Ownership percentage	56.80%	56.80%	56.90%				57.70%
UCP LLC
Noncontrolling Interest [Line Items]
Economic interest percentage	43.20%	43.20%	43.10%				42.30%

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		12 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value ($ per share)				$ 4.94
Options granted (shares)			0	71,429	166,081
Options expired (shares)			32,953
Unrecognized compensation cost			$ 2
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost			$ 1.7
Period to recognized compensation cost not yet recognized			3 years 6 months
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost			$ 0.3
Period to recognized compensation cost not yet recognized			1 year 2 months 12 days
Long-Term Incentive Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value			$ 2.2	$ 0.4
General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation			$ 1.2	$ 1.7	$ 3.6
Share-based Compensation Award, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting, percentage	25.00%	20.00%			10.00%
Share-based Compensation Award, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting, percentage	25.00%	20.00%			20.00%
Share-based Compensation Award, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting, percentage	25.00%	20.00%			30.00%
Share-based Compensation Award, Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting, percentage	25.00%	20.00%			40.00%
Share-based Compensation Award, Tranche Five
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting, percentage		20.00%
Class A | Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares that may be issued (in shares)			1,834,300

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of RSU Activity (Details) - Restricted Stock Units (RSUs) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding and unvested, beginning (in shares)	48,531	190,440	289,555
Granted (in shares)	271,635	1,237	66,561
Vested (in shares)	(35,853)	(143,146)	(148,778)
Forfeited (in shares)	0	0	(16,898)
Outstanding and unvested, ending (in shares)	284,313	48,531	190,440	289,555
Outstanding and unvested ($ per share)	$ 8.88	$ 15.99	$ 15.31	$ 15
Granted ($ per share)	8.04	7.98	16
Vested ($ per share)	12.17	15.02	15
Forfeited ($ per share)	$ 0	$ 0	$ 15.41

Stock-Based Compensation Option

Stock-Based Compensation Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning (shares)	149,605	149,605	0
Options granted (shares)	0	71,429	166,081
Options exercised (shares)	0	0	0
Options forfeited (shares)	0	(71,429)	(16,476)
Options expired (shares)	(32,953)
Outstanding at ending (shares)	116,652	149,605	149,605	0
Outstanding ($ per share)	$ 16.20	$ 16.20	$ 16.20	$ 0
Granted ($ per share)	0	8.97	16.20
Exercised ($ per share)	0	0	0
Forfeited ($ per share)	0	$ (8.97)	$ 0
Expired ($ per share)	$ 0
Vested and exercisable (shares)	34,996
Expected to vest (shares)	81,656
Vested and exercisable ($ per share)	$ 16.20
Term, granted				9 years 1 month 28 days
Term, outstanding	7 years 2 months 12 days	8 years 2 months 12 days	9 years 1 month 28 days
Share Price (in dollars per share)	$ 12.05

Stock-Based Compensation Assump

Stock-Based Compensation Assumptions (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected term	6 years 6 months	6 years 6 months
Expected volatility %	55.00%	53.46%
Risk free interest rate %	1.61%	1.81%
Dividend yield %	0.00%	0.00%

Incentive Compensation Plan a66

Incentive Compensation Plan and Employee Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Employer discretionary contribution amount	$ 0.6	$ 0.4	$ 0.6
Incentive Compensation Plan
Defined Benefit Plan Disclosure [Line Items]
Share based compensation	$ 2.2	$ 0.5	$ 0.3

Segment Information (Details)

Segment Information (Details)	12 Months Ended
	Dec. 31, 2016segmentregion
Segment Reporting [Abstract]
Number of geographical regions | region	2
Number of reportable segments | segment	2

Segment Information Revenues an

Segment Information Revenues and Gross Margin (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Homebuilding	$ 104,438	$ 89,840	$ 81,415	$ 68,225	$ 88,892	$ 70,284	$ 50,785	$ 42,635	$ 343,919	$ 252,597	$ 155,417
Land development	127	3,900	1,422	0	17,978	1,116	1,920	120	5,449	21,134	32,513
Other revenue	0	0	0	0	0	2,272	2,021	768	0	5,060	3,253
Total revenue	104,565	93,740	82,837	68,225	106,870	73,672	54,726	43,523	349,368	278,791	191,183
Gross Margin	$ 19,394	$ 16,730	$ 13,845	$ 11,558	$ 20,917	$ 13,992	$ 9,321	$ 7,237	61,528	51,467	33,312
Home Building
Segment Reporting Information [Line Items]
Homebuilding									343,919	252,597	155,417
Gross Margin									62,847	44,927	25,840
Home Building | West Segment
Segment Reporting Information [Line Items]
Homebuilding									289,037	191,884	128,334
Gross Margin									54,392	35,666	21,858
Home Building | Southeast Segment
Segment Reporting Information [Line Items]
Homebuilding									54,882	60,713	27,083
Gross Margin									8,455	9,261	3,982
Land Development
Segment Reporting Information [Line Items]
Land development									5,449	21,134	32,513
Gross Margin									(1,319)	5,843	7,047
Land Development | West Segment
Segment Reporting Information [Line Items]
Homebuilding									5,449	21,074	32,513
Gross Margin									(930)	5,853	7,047
Land Development | Southeast Segment
Segment Reporting Information [Line Items]
Homebuilding									0	60	0
Gross Margin									(389)	(10)	0
Corporate Segment
Segment Reporting Information [Line Items]
Other revenue									0	5,060	3,253
Gross Margin									$ 0	$ 697	$ 425

Segment Information Reconciliat

Segment Information Reconciliation to Net Income (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting [Abstract]
Gross margin	$ 19,394,000	$ 16,730,000	$ 13,845,000	$ 11,558,000	$ 20,917,000	$ 13,992,000	$ 9,321,000	$ 7,237,000	$ 61,528,000	$ 51,467,000	$ 33,312,000
Sales and marketing	5,662,000	4,853,000	4,667,000	4,076,000	5,697,000	4,692,000	4,357,000	4,196,000	19,257,000	18,943,000	13,748,000
General and administrative	10,060,000	4,592,000	7,234,000	7,275,000	7,567,000	5,539,000	6,453,000	7,320,000	29,161,000	26,878,000	27,406,000
Goodwill impairment	0	4,223,000	0	0					4,223,000	0	0
Income (loss) from operations									8,887,000	5,646,000	(7,842,000)
Other income, net									276,000	206,000	121,000
Net income (loss) before income taxes	3,695,000	3,266,000	1,966,000	235,000	7,682,000	3,806,000	(1,459,000)	(4,177,000)	9,163,000	5,852,000	(7,721,000)
Benefit (provision) for income taxes	5,556,000	(124,000)	(141,000)	(5,000)	(69,000)	0	0	0	5,285,000	(69,000)	0
Net income (loss)	$ 9,251,000	$ 3,142,000	$ 1,825,000	$ 230,000	$ 7,613,000	$ 3,806,000	$ (1,459,000)	$ (4,177,000)	$ 14,448,000	$ 5,783,000	$ (7,721,000)

Segment Information Assets (Det

Segment Information Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Assets	$ 434,106	$ 414,697	$ 375,139
Home Building
Segment Reporting Information [Line Items]
Assets	279,129	281,088	265,906
Home Building | West Segment
Segment Reporting Information [Line Items]
Assets	225,770	231,624	218,902
Home Building | Southeast Segment
Segment Reporting Information [Line Items]
Assets	53,359	49,464	47,004
Land Development
Segment Reporting Information [Line Items]
Assets	94,078	79,901	55,787
Land Development | West Segment
Segment Reporting Information [Line Items]
Assets	94,078	79,901	55,787
Land Development | Southeast Segment
Segment Reporting Information [Line Items]
Assets	0	0	0
Other
Segment Reporting Information [Line Items]
Assets	$ 60,899	$ 53,708	$ 53,446

Commitments and Contingencies71

Commitments and Contingencies (Details)	12 Months Ended
	Dec. 31, 2016USD ($)lotproperty	Dec. 31, 2015USD ($)lot	Dec. 31, 2014USD ($)	Sep. 09, 2016USD ($)lot
Loss Contingencies [Line Items]
Number of land purchase contracts | lot	2,607	1,127
Deposits on land purchase contracts	$ 9,200,000	$ 3,800,000
Reimbursement for land development work	4,016,000	0
Aggregate land purchase contracts, net	106,000,000	80,100,000
Letter of credit	600,000	0
Operating leases, rent expense	1,400,000	1,300,000	$ 1,100,000
Surety Bond
Loss Contingencies [Line Items]
Surety bonds	$ 55,200,000	$ 37,100,000
WASHINGTON | U.S. Fish And Wildlife Service
Loss Contingencies [Line Items]
Number of mitigating properties identified | property	2
Contracted to purchase	$ 955,000
Hearthstone
Loss Contingencies [Line Items]
Number of land purchase contracts | lot	226			241
Deposits on land purchase contracts				$ 6,100,000

Commitments and Contingencies -

Commitments and Contingencies - Future Minimum Payments, Operating Leases (Details) $ in Thousands	Dec. 31, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,017	$ 928
2,018	829
2,019	403
2,020	275
2,021	89
thereafter	0
Total	$ 2,524

Income Taxes - Components of Ta

Income Taxes - Components of Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Federal									$ 152	$ 58	$ 0
State									45	11	0
Total Current Expense									197	69	0
Federal									(4,795)	0	0
State									(687)	0	0
Total Deferred Expense									(5,482)	0	0
Total income tax expense (benefit)	$ (5,556)	$ 124	$ 141	$ 5	$ 69	$ 0	$ 0	$ 0	$ (5,285)	$ 69	$ 0

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Reconciliation (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income tax (benefit) provision at federal statutory rate	35.00%	35.00%	35.00%
State income tax, net of federal benefit	(7.00%)	0.00%	0.00%
Change in valuation allowance	(74.00%)	(12.00%)	(22.00%)
Noncontrolling interest	(20.00%)	(20.00%)	(12.00%)
Other permanent items	8.00%	(2.00%)	(1.00%)
Effective tax rate	(58.00%)	1.00%	0.00%

Income Taxes - Deferred Income

Income Taxes - Deferred Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Net operating loss and tax credit carry forwards	$ 252	$ 2,213	$ 3,317
Outside basis difference in partnership	5,214	5,391	5,192
Other	16	26	83
Deferred tax assets	5,482	7,630	8,592
Valuation allowance	0	(7,630)	(8,592)
Net deferred tax assets	$ 5,482	$ 0	$ 0

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Valuation allowance	$ 0	$ 7,630	$ 8,592
Reversal of allowance	5,500
Deferred tax assets	$ 5,482	$ 7,630	$ 8,592

Income Taxes - Operating Loss a

Income Taxes - Operating Loss and Credit Carryforwards (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Tax Credit Carryforward [Line Items]
State	$ 45	$ 11	$ 0
Domestic Tax Authority
Tax Credit Carryforward [Line Items]
State	0	4,549	7,286
Tax credit carryforward	54	54	0
Domestic Tax Authority | General Business Tax Credit Carryforward
Tax Credit Carryforward [Line Items]
Tax credit carryforward	84	291	290
State and Local Jurisdiction
Tax Credit Carryforward [Line Items]
State	0	232	725
Tax credit carryforward	36	11	0
State and Local Jurisdiction | CALIFORNIA
Tax Credit Carryforward [Line Items]
State	$ 1,588	$ 5,417	$ 7,003

Deferred Tax Asset Valuation 78

Deferred Tax Asset Valuation Allowance (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Valuation allowance	$ 0				$ 7,630				$ 0	$ 7,630	$ 8,592
Reversal of allowance									5,500
Tax expense (benefit)	$ (5,556)	$ 124	$ 141	$ 5	$ 69	$ 0	$ 0	$ 0	$ (5,285)	$ 69	$ 0

Quarterly Financial Data (Una79

Quarterly Financial Data (Unaudited) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Homebuilding	$ 104,438,000	$ 89,840,000	$ 81,415,000	$ 68,225,000	$ 88,892,000	$ 70,284,000	$ 50,785,000	$ 42,635,000	$ 343,919,000	$ 252,597,000	$ 155,417,000
Land development	127,000	3,900,000	1,422,000	0	17,978,000	1,116,000	1,920,000	120,000	5,449,000	21,134,000	32,513,000
Other revenue	0	0	0	0	0	2,272,000	2,021,000	768,000	0	5,060,000	3,253,000
Total revenue	104,565,000	93,740,000	82,837,000	68,225,000	106,870,000	73,672,000	54,726,000	43,523,000	349,368,000	278,791,000	191,183,000
Cost of sales - homebuilding	85,053,000	72,984,000	66,370,000	56,206,000	72,003,000	57,006,000	42,120,000	35,618,000	280,614,000	206,747,000	129,577,000
Cost of sales - land development	118,000	3,834,000	225,000	461,000	13,027,000	716,000	1,543,000	5,000	4,637,000	15,291,000	25,466,000
Cost of sales - other revenue	0	0	0	0	0	1,958,000	1,742,000	663,000	0	4,363,000	2,828,000
Impairment on real estate inventories	0	192,000	2,397,000	0	923,000	0	0	0	2,589,000	923,000	0
Total cost of sales	85,171,000	77,010,000	68,992,000	56,667,000	85,953,000	59,680,000	45,405,000	36,286,000	287,840,000	227,324,000	157,871,000
Gross margin - homebuilding	19,385,000	16,856,000	15,045,000	12,019,000	16,889,000	13,278,000	8,665,000	7,017,000	63,305,000	45,850,000	25,840,000
Gross margin - land development	9,000	66,000	1,197,000	(461,000)	4,951,000	400,000	377,000	115,000	812,000	5,843,000	7,047,000
Gross margin - other revenue	0	0	0	0	0	314,000	279,000	105,000	0	697,000	425,000
Gross margin - impairment on real estate	0	(192,000)	(2,397,000)	0	(923,000)	0	0	0	(2,589,000)	(923,000)	0
Total gross margin	19,394,000	16,730,000	13,845,000	11,558,000	20,917,000	13,992,000	9,321,000	7,237,000	61,528,000	51,467,000	33,312,000
Sales and marketing	5,662,000	4,853,000	4,667,000	4,076,000	5,697,000	4,692,000	4,357,000	4,196,000	19,257,000	18,943,000	13,748,000
General and administrative	10,060,000	4,592,000	7,234,000	7,275,000	7,567,000	5,539,000	6,453,000	7,320,000	29,161,000	26,878,000	27,406,000
Goodwill impairment	0	4,223,000	0	0					4,223,000	0	0
Total expenses	15,722,000	13,668,000	11,901,000	11,351,000	13,264,000	10,231,000	10,810,000	11,516,000
Other income	23,000	204,000	22,000	28,000	29,000	45,000	30,000	102,000
Net income (loss) before income taxes	3,695,000	3,266,000	1,966,000	235,000	7,682,000	3,806,000	(1,459,000)	(4,177,000)	9,163,000	5,852,000	(7,721,000)
Benefit (provision) for income taxes	5,556,000	(124,000)	(141,000)	(5,000)	(69,000)	0	0	0	5,285,000	(69,000)	0
Net income (loss)	9,251,000	3,142,000	1,825,000	230,000	7,613,000	3,806,000	(1,459,000)	(4,177,000)	14,448,000	5,783,000	(7,721,000)
Net income (loss) attributable to UCP, Inc.	$ 7,151,000	$ 1,285,000	$ 706,000	$ 96,000	$ 3,240,000	$ 1,639,000	$ (668,000)	$ (1,840,000)	$ 9,238,000	$ 2,371,000	$ (4,993,000)
Basic ($ per share)	$ 0.90	$ 0.16	$ 0.09	$ 0.01	$ 0.40	$ 0.20	$ (0.08)	$ (0.23)	$ 1.16	$ 0.30	$ (0.63)
Diluted ($ per share)	$ 0.89	$ 0.16	$ 0.09	$ 0.01	$ 0.40	$ 0.20	$ (0.08)	$ (0.23)	$ 1.15	$ 0.30	$ (0.63)