Note 6 - Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016

Notes Tables

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

		Fair Value
Financial Instrument	Hierarchy	June 30, 2016		December 31, 2015
		(Dollars in thousands)
Marketable equity securities (available-for-sale)	Level 1	$	70,619	$	103,694
Mortgage loans held-for-sale, net	Level 2	$	118,699	$	115,670
Metropolitan district bond securities (related party) (available-for-sale)	Level 3	$	28,604	$	25,911

Available-for-sale Securities [Table Text Block]

	June 30, 2016
	Amortized Cost		OTTI			Net Amortized Cost		Fair Value
	(Dollars in thousands)
Homebuilding equity securities	$	47,923	$	(904	)	$	47,019	$	55,798
Financial services equity securities		14,979		-			14,979		14,821
Total marketable equity securities	$	62,902	$	(904	)	$	61,998	$	70,619

	December 31, 2015
	Amortized Cost		OTTI			Net Amortized Cost		Fair Value
	(Dollars in thousands)
Homebuilding equity securities	$	89,738	$	(3,969	)	$	85,769	$	92,387
Financial services equity securities		12,026		-			12,026		11,307
Total marketable equity securities	$	101,764	$	(3,969	)	$	97,795	$	103,694

Schedule of Unrealized Loss on Investments [Table Text Block]

	June 30, 2016							December 31, 2015
	Number of Securities in an Unrealized Loss Position		Aggregate Unrealized Loss Position			Aggregate Fair Value of Securities in an Unrealized Loss Position		Number of Securities in an Unrealized Loss Position		Aggregate Unrealized Loss Position			Aggregate Fair Value of Securities in an Unrealized Loss Position
	(Dollars in thousands)
Marketable equity securities		2	$	(604	)	$	2,394		4	$	(882	)	$	6,116

Realized Gain (Loss) on Investments [Table Text Block]

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2016			2015			2016			2015
	(Dollars in thousands)
Gross realized gains on sales of available-for-sale securities
Equity securities	$	1,379		$	638		$	1,470		$	875
Debt securities		-			205			-			371
Total	$	1,379		$	843		$	1,470		$	1,246
Gross realized losses on sales of available-for-sale securities
Equity securities	$	(202	)	$	(232	)	$	(1,208	)	$	(557	)
Debt securities		-			(138	)		-			(227	)
Total	$	(202	)	$	(370	)	$	(1,208	)	$	(784	)
Net realized gain on sales of available-for-sale securities	$	1,177		$	473		$	262		$	462

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

	Quantitative Data					Sensitivity Analysis
Unobservable Input	Range			Weighted Average		Movement in Fair Value from Increase in Input	Movement in Fair Value from Decrease in Input
Number of homes closed per year	0	to	130		91	Increase	Decrease
Average sales price	$419,000	to	$1,200,000		486,000	Increase	Decrease
Discount rate	5%	to	12%		7.4%	Decrease	Increase

Schedule of Principal Amounts and Fair Values of Debt Instruments [Table Text Block]

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2016		2015		2016		2015
	(Dollars in thousands)
Balance at beginning of period	$	27,277	$	19,978	$	25,911	$	18,203
Increase in fair value (recorded in other comprehensive income)		915		1,925		1,865		3,343
Change due to accretion of principal		412		356		828		713
Cash receipts		-		-		-		-
Balance at end of period	$	28,604	$	22,259	$	28,604	$	22,259

Fair Value of Senior Notes [Table Text Block]

	June 30, 2016				December 31, 2015
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(Dollars in thousands)
5⅝% Senior Notes due February 2020, net	$	246,466	$	261,767	$	246,032	$	257,813
5½% Senior Notes due January 2024		248,299		249,892		248,209		252,188
6% Senior Notes due January 2043		346,311		275,228		346,283		276,938
Total	$	841,076	$	786,887	$	840,524	$	786,939