Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
OPERATING ACTIVITIES:
Net income (loss)	$ 39,803	$ 137,162
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Inventory valuation adjustments and abandoned land transaction write-offs	1,426	4,237
Equity in loss (income) of unconsolidated joint ventures	(62)	(278)
Mortgage loan originations	(470,345)	(426,636)
Proceeds from the sale of mortgage loans	477,728	439,151
Fair value adjustment of mortgage loans held for sale	(2,556)	(1,782)
Capitalization of originated Mortgage Servicing Rights	(3,046)	0
Amortization of Mortgage Servicing Rights (MSRs)	548	0
Depreciation	3,733	3,777
Amortization of intangibles, debt discount and debt issue costs	2,329	2,555
Loss on early extinguishment of debt	0	1,726
Stock-based compensation expense	2,504	1,835
Deferred Income Tax Expense	17,320	9,190
Deferred tax asset valuation allowances	(9,291)	(120,836)
Change in assets and liabilities:
Cash held in escrow	92	148
Inventory	(196,139)	(142,642)
Other assets	(4,582)	(2,443)
Accounts payable	27,647	38,114
Customer deposits	2,940	4,679
Accrued compensation	(3,247)	1,767
Other liabilities	6,487	9,840
Net cash (used in) provided by operating activities	(106,711)	(40,436)
INVESTING ACTIVITIES:
Change in restricted cash	4,912	(7,274)
Purchase of property and equipment	(2,347)	(1,654)
Return of investment from Unconsolidated LLCs	619	1,522
Investment in unconsolidated joint ventures	(16,818)	(25,496)
Net Proceeds from Sale of Mortgage Servicing Rights	2,135	0
Net cash used in investing activities	(11,499)	(32,902)
FINANCING ACTIVITIES:
Proceeds from issuance of convertible senior subordinated notes	0	86,250
Proceeds from (repayments of) bank borrowings - net	8,149	(12,343)
Principal repayments of notes payable-other and CDD bond obligations	740	(2,979)
Dividends paid on preferred shares	(3,656)	(2,438)
Net proceeds from issuance of common shares	0	54,617
Payments for Repurchase of Redeemable Preferred Stock	0	(50,352)
Debt issue costs	(40)	(5,463)
Proceeds from exercise of stock options	1,460	2,640
Excess tax deficiency from stock-based payment arrangements	0	383
Net cash (used in) provided by financing activities	6,653	70,315
Net increase (decrease) in cash and cash equivalents	(111,557)	(3,023)
Cash and cash equivalents balance at beginning of period	128,725	145,498
Cash and cash equivalents balance at end of period	17,168	142,475
SUPPLEMENTAL DISCLOSURE OF CASH PAID DURING THE YEAR:
Interest — net of amount capitalized	3,074	4,977
Income taxes	551	679
NON-CASH TRANSACTIONS DURING THE PERIOD
Community development district infrastructure	(74)	(1,215)
Consolidated inventory not owned	(75)	(17,529)
Distribution of single-family lots from unconsolidated joint ventures	$ 10,758	$ 1,912