Consolidated Statements of Cash Flows (unaudited) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
OPERATING ACTIVITIES
Net loss (including net gain or loss attributable to non-controlling interests)	$ (3,885)	$ (9,427)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,602	1,344
Amortization of stock-based compensation	1,236	615
Impairment of Real Estate	0	45
Equity loss from unconsolidated entities	5	78
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal	0	(22)
Changes in operating assets and liabilities:
Restricted cash	(7,392)	(43)
Receivables, net	1,341	(83)
Land and other inventories	(66,431)	(17,087)
Assets held for sale	11,619	9,166
Prepaid expenses and other assets	(1,468)	372
Accounts payable, estimated development liability, and accrued and other liabilities	7,781	1,395
Customer deposits and deferred revenues	2,407	1,668
NET CASH USED IN OPERATING ACTIVITIES	(53,185)	(11,935)
INVESTING ACTIVITIES
Investment in property and equipment	(409)	(764)
Proceeds from sales of property and equipment	12	0
Acquisition of Royal Oak Homes	(64,794)	0
Investment in unconsolidated entities	0	(95)
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital	33	0
NET CASH USED IN INVESTING ACTIVITIES	(65,158)	(859)
Proceeds from Issuance of Common Stock	0	35,805
Proceeds from Issuance of Preferred Stock and Preference Stock	0	93,206
Proceeds from Issuance of Long-term Debt	200,000	0
Payments of Debt Issuance Costs	8,297	0
FINANCING ACTIVITIES
Principal payments of 4.50% Notes	(5,421)	0
Contributions from consolidated joint venture partner	193	401
Payment of withholding taxes related to restricted stock and units withheld	(150)	(34)
NET CASH PROVIDED BY FINANCING ACTIVITIES	186,325	129,378
INCREASE IN CASH AND CASH EQUIVALENTS	67,982	116,584
Cash and cash equivalents at beginning of period	144,727	79,815
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 212,709	$ 196,399