Fair Value Measurements Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Measurements [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

The table below shows the notional amounts of our financial instruments at December 31, 2015 and 2014:

	December 31,
Description of Financial Instrument (in thousands)	2015		2014
Best efforts contracts and related committed IRLCs	$	2,625	$	3,072
Uncommitted IRLCs	46,339		28,028
FMBSs related to uncommitted IRLCs	46,000		41,000
Best efforts contracts and related mortgage loans held for sale	100,152		61,233
FMBSs related to mortgage loans held for sale	27,000		27,000
Mortgage loans held for sale covered by FMBSs	26,690		26,825

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

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

The table below shows the level and measurement of assets and liabilities measured on a recurring basis at December 31, 2015 and 2014:

Description of Financial Instrument (in thousands)	Fair Value Measurements December 31, 2015			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Mortgage loans held for sale	$	127,001		$	—	$	127,001		$	—
Forward sales of mortgage-backed securities	(93		)	—		(93		)	—
Interest rate lock commitments	321			—		321			—
Best-efforts contracts	(206		)	—		(206		)	—
Total	$	127,023		$	—	$	127,023		$	—

Description of Financial Instrument (in thousands)	Fair Value Measurements December 31, 2014			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Mortgage loans held for sale	$	92,794		$	—	$	92,794		$	—
Forward sales of mortgage-backed securities	(182		)	—		(182		)	—
Interest rate lock commitments	288			—		288			—
Best-efforts contracts	53			—		53			—
Total	$	92,953		$	—	$	92,953		$	—

Schedule of Derivative Instruments, (Loss) Gain in Statement of Financial Performance [Table Text Block]

The following table sets forth the amount of (loss) gain recognized, within our revenue in the Consolidated Statements of Income, on assets and liabilities measured on a recurring basis for the years ended December 31, 2015, 2014 and 2013:

	Year Ended December 31,
Description (in thousands)	2015			2014			2013
Mortgage loans held for sale	$	(590	)	$	3,191		$	(2,094	)
Forward sales of mortgage-backed securities	89			(927		)	492
Interest rate lock commitments	32			607			(320		)
Best-efforts contracts	(258		)	(426		)	482
Total (loss) gain recognized	$	(727	)	$	2,445		$	(1,440	)

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following tables set forth the fair value of the Company’s derivative instruments and their location within the Consolidated Balance Sheets for the periods indicated (except for mortgage loans held for sale which is disclosed as a separate line item):

	Asset Derivatives			Liability Derivatives
	December 31, 2015			December 31, 2015
Description of Derivatives	Balance Sheet Location	Fair Value (in thousands)		Balance Sheet Location	Fair Value (in thousands)
Forward sales of mortgage-backed securities	Other assets	$	—	Other liabilities	$	93
Interest rate lock commitments	Other assets	321		Other liabilities	—
Best-efforts contracts	Other assets	—		Other liabilities	206
Total fair value measurements		$	321		$	299

	Asset Derivatives			Liability Derivatives
	December 31, 2014			December 31, 2014
Description of Derivatives	Balance Sheet Location	Fair Value (in thousands)		Balance Sheet Location	Fair Value (in thousands)
Forward sales of mortgage-backed securities	Other assets	$	—	Other liabilities	$	182
Interest rate lock commitments	Other assets	288		Other liabilities	—
Best-efforts contracts	Other assets	58		Other liabilities	5
Total fair value measurements		$	346		$	187

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block]

The tables below show the level and measurement of assets measured on a non-recurring basis for the years ended December 31, 2015 and 2014:

		Year Ended December 31,
Description (in thousands)	Hierarchy	2015		2014 (2)		2013 (2)
Adjusted basis of inventory (1)	Level 3	$	11,885	$	3,730	$	5,494
Total losses		3,638		3,457		5,805
Initial basis of inventory (3)		$	15,523	$	7,187	$	11,299

(1) The fair values in the table above represent only assets whose carrying values were adjusted in the respective period.

(2) The carrying values for these assets may have subsequently increased or decreased from the fair value reported due to activities that have occurred since the measurement date.

(3) This amount is inclusive of our investments in unconsolidated joint ventures. There were no losses on our investments in unconsolidated joint ventures for 2015 and 2013. The total loss for these unconsolidated joint ventures was $1.0 million for 2014.

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following table presents the carrying amounts and fair values of the Company’s financial instruments at December 31, 2015 and 2014. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price).

	December 31, 2015				December 31, 2014
(In thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash, cash equivalents and restricted cash	$	13,101	$	13,101	$	22,486	$	22,486
Mortgage loans held for sale	127,001		127,001		92,794		92,794
Split dollar life insurance policies	199		199		187		187
Notes receivable	3,153		3,076		4,288		3,793
Commitments to extend real estate loans	321		321		289		289
Best-efforts contracts for committed IRLCs and mortgage loans held for sale	—		—		58		58
Liabilities:
Notes payable - homebuilding operations	43,800		43,800		30,000		30,000
Notes payable - financial services operations	123,648		123,648		85,379		85,379
Notes payable - other	8,441		8,039		9,518		9,089
Convertible senior subordinated notes due 2017	57,500		61,884		57,500		67,634
Convertible senior subordinated notes due 2018	86,250		84,741		86,250		87,544
Senior notes	300,000		295,500		228,469		239,488
Best-efforts contracts for committed IRLCs and mortgage loans held for sale	206		206		—		—
Forward sales of mortgage-backed securities	93		93		182		182
Off-Balance Sheet Financial Instruments:
Letters of credit	—		735		—		881