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Fair Value Disclosures (Tables)
12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Related to Financial Instruments, Measured at Fair Value on a Recurring Basis
A summary of assets and liabilities at December 31, 2018 and 2017, related to our financial instruments, measured at fair value on a recurring basis, is set forth below (in thousands):
 
 
 
December 31, 2018
 
December 31, 2017
 
Hierarchy
 
Book Value
 
Fair Value
 
Book Value
 
Fair Value
Senior Notes (1)
Level 2
 
$
1,425,397

 
$
1,308,826

 
$
1,491,229

 
$
1,552,335

   __________
(1) 
The book value of the Senior Notes is net of discounts, excluding deferred loan costs of $14.6 million and $19.9 million as of December 31, 2018 and 2017, respectively. The estimated fair value of our Senior Notes at December 31, 2018 and 2017 is based on quoted market prices.
Summary of Nonfinancial Assets Measured at Fair Value on a Nonrecurring Basis
The following table presents impairment charges and the remaining net fair value for nonfinancial assets that were measured during the periods presented (in thousands):
 
Year Ended December 31, 2018
 
Year Ended December 31, 2017
 
Impairment
Charge
 
Fair Value
Net of
Impairment
 
Impairment
Charge
 
Fair Value
Net of
Impairment
Real estate inventories (1)
$

 
$

 
$
854

 
$
12,950

 
(1) 
Fair value of real estate inventories, net of impairment charges represents only those assets whose carrying values were adjusted to fair value in the respective periods presented.  The fair value of these real estate inventories impaired was determined based on recent offers received from outside third parties or actual contracts.