Note 6 - Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

Notes Tables

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

		Fair Value
Financial Instrument	Hierarchy	March 31, 2017		December 31, 2016
		(Dollars in thousands)
Marketable equity securities (available-for-sale)	Level 1	$	99,865	$	96,206
Mortgage loans held-for-sale, net	Level 2	$	97,373	$	138,774
Metropolitan district bond securities (related party) (available-for-sale)	Level 3	$	31,004	$	30,162

Available-for-sale Securities [Table Text Block]

	March 31, 2017
	Cost Basis		OTTI			Net Cost Basis		Fair Value
	(Dollars in thousands)
Homebuilding equity securities	$	49,944	$	(730	)	$	49,214	$	62,316
Financial services equity securities		35,710		(348	)		35,362		37,549
Total marketable equity securities	$	85,654	$	(1,078	)	$	84,576	$	99,865

	December 31, 2016
	Cost Basis		OTTI			Net Cost Basis		Fair Value
	(Dollars in thousands)
Homebuilding equity securities	$	48,910	$	(685	)	$	48,225	$	59,770
Financial services equity securities		35,885		(373	)		35,512		36,436
Total marketable equity securities	$	84,795	$	(1,058	)	$	83,737	$	96,206

Schedule of Unrealized Loss on Investments [Table Text Block]

	March 31, 2017							December 31, 2016
	Number of Securities in a Loss Position		Aggregate Loss Position			Aggregate Fair Value of Securities in a Loss Position		Number of Securities in a Loss Position		Aggregate Loss Position			Aggregate Fair Value of Securities in a Loss Position
	(Dollars in thousands)
Marketable equity securities		2	$	(500	)	$	3,000		5	$	(457	)	$	6,045

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

	Three Months Ended
	March 31,
	2017			2016
	(Dollars in thousands)
Gross realized gains on sales of available-for-sale securities	$	590		$	91
Gross realized losses on sales of available-for-sale securities		(29	)		(1,006	)
Net realized gain (loss) on sales of available-for-sale securities	$	561		$	(915	)

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
Forecasted number of homes closed per year	0	to	120		107		Increase	Decrease
Forecasted assessed value	$401,000	to	$1,200,000	$	558,000		Increase	Decrease
Discount rates	5%	to	12%		7.5	%	Decrease	Increase

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

	Three Months Ended
	March 31,
	2017		2016
	(Dollars in thousands)
Balance at beginning of period	$	30,162	$	25,911
Increase in fair value (recorded in other comprehensive income)		382		950
Change due to accretion of principal		460		416
Cash receipts		-		-
Balance at end of period	$	31,004	$	27,277

Fair Value of Senior Notes [Table Text Block]

	March 31, 2017				December 31, 2016
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(Dollars in thousands)
5⅝% Senior Notes due February 2020, net	$	247,144	$	264,208	$	246,915	$	265,611
5½% Senior Notes due January 2024, net		248,439		257,325		248,391		258,800
6% Senior Notes due January 2043, net		346,354		309,563		346,340		297,087
Total	$	841,937	$	831,096	$	841,646	$	821,498