Note 11 - Revolving Credit Facility and Letter of Credit Facilities	9 Months Ended
Sep. 30, 2014
Lineof Credit Facility [Abstract]
Lineof Credit Facility [Text Block]	11. Revolving Credit Facility and Letter of Credit Facilities On July 31, 2014, we amended our unsecured revolving credit facility (the “Revolving Facility”) to, among other things, increase the aggregate commitment to $450 million and extend the maturity date to July 2018. The Revolving Facility has an accordion feature under which the commitment may be increased up to a maximum aggregate commitment of $750 million, subject to the availability of additional bank commitments and certain other conditions. As of September 30, 2014, the Revolving Facility contained financial covenants (which were not modified in connection with the July 2014 amendment), including, but not limited to, (i) a minimum consolidated tangible net worth covenant; (ii) a covenant to maintain either (a) a minimum liquidity level or (b) a minimum interest coverage ratio; (iii) a maximum net homebuilding leverage ratio and (iv) a maximum land not under development to tangible net worth ratio. This facility also contains a limitation on our investments in joint ventures. Interest rates charged under the Revolving Facility include LIBOR and prime rate pricing options. As of September 30, 2014, we satisfied the conditions that would allow us to borrow up to $450 million under the facility and had no amounts outstanding. As of September 30, 2014, we were party to five committed letter of credit facilities totaling $53 million, of which $35.1 million was outstanding. These facilities require cash collateralization and have maturity dates ranging from October 2015 to October 2017. In addition, as of such date, we also had $0.6 million outstanding under an uncommitted letter of credit facility. As of September 30, 2014, these facilities were secured by cash collateral deposits of $36.2 million. Upon maturity, we may renew or enter into new letter of credit facilities with the same or other financial institutions.

Note 11 - Revolving Credit Facility and Letter of Credit Facilities

9 Months Ended

Sep. 30, 2014

11. Revolving Credit Facility and Letter of Credit Facilities

On July 31, 2014, we amended our unsecured revolving credit facility (the “Revolving Facility”) to, among other things, increase the aggregate commitment to $450 million and extend the maturity date to July 2018. The Revolving Facility has an accordion feature under which the commitment may be increased up to a maximum aggregate commitment of $750 million, subject to the availability of additional bank commitments and certain other conditions. As of September 30, 2014, the Revolving Facility contained financial covenants (which were not modified in connection with the July 2014 amendment), including, but not limited to, (i) a minimum consolidated tangible net worth covenant; (ii) a covenant to maintain either (a) a minimum liquidity level or (b) a minimum interest coverage ratio; (iii) a maximum net homebuilding leverage ratio and (iv) a maximum land not under development to tangible net worth ratio. This facility also contains a limitation on our investments in joint ventures. Interest rates charged under the Revolving Facility include LIBOR and prime rate pricing options. As of September 30, 2014, we satisfied the conditions that would allow us to borrow up to $450 million under the facility and had no amounts outstanding.

As of September 30, 2014, we were party to five committed letter of credit facilities totaling $53 million, of which $35.1 million was outstanding. These facilities require cash collateralization and have maturity dates ranging from October 2015 to October 2017. In addition, as of such date, we also had $0.6 million outstanding under an uncommitted letter of credit facility. As of September 30, 2014, these facilities were secured by cash collateral deposits of $36.2 million. Upon maturity, we may renew or enter into new letter of credit facilities with the same or other financial institutions.