Statement of Cash Flows Statement (USD $) In Thousands	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010
OPERATING ACTIVITIES:
Net Loss	$ (26,183)	$ (13,142)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Inventory valuation adjustments and abandoned land transaction write-offs	15,587	9,667
Impairment of investment in Unconsolidated LLCs	1,029	0
Mortgage loan originations	(164,123)	(212,347)
Proceeds from the sale of mortgage loans	173,861	198,198
Fair value adjustment of mortgage loans held for sale	(2,151)	(2,817)
Net loss from property disposals	29	7
Depreciation	2,517	2,555
Amortization of intangibles, debt discount and debt issue costs	1,271	1,350
Share-based compensation expense	1,042	1,484
Deferred income tax benefit	(10,312)	(4,921)
Deferred tax asset valuation allowance	10,312	4,921
Excess tax (benefit) expense from stock-based payment arrangements	(158)	14
Equity in undistributed loss of Unconsolidated LLCs	17	6
Write-off of unamortized debt discount and financing costs	0	311
Change in assets and liabilities:
Cash held in escrow	(3,731)	(9,808)
Inventory	(23,063)	(24,424)
Other assets	1,553	26,429
Accounts payable	13,438	10,114
Customer deposits	1,911	659
Accrued compensation	(1,171)	(1,015)
Other liabilities	(194)	(5,279)
Net cash used in operating activities	(8,519)	(18,038)
INVESTING ACTIVITIES:
Restricted cash	(23,248)	(14,961)
Purchase of property and equipment	(709)	(771)
Acquisition, net of cash acquired	(4,654)	0
Investment in Unconsolidated LLCs	(454)	(289)
Return of investment from Unconsolidated LLCs	21	13
Net cash used in investing activities	(29,044)	(16,008)
FINANCING ACTIVITIES:
Repayments of bank borrowings - net	(64)	9,769
Principal repayments of note payable-other and community development district bond obligations	(52)	(168)
Debt issue costs	(220)	(3,874)
Proceeds from exercise of stock options	1,433	5
Excess tax benefit from stock-based payment arrangements	158	(14)
Net cash provided by financing activities	1,255	5,718
Net decrease in cash	(36,308)	(28,328)
Cash balance at beginning of period	81,208	109,930
Cash balance at end of period	44,900	81,602
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest — net of amount capitalized	6,453	2,693
Income taxes	219	266
NON-CASH TRANSACTIONS DURING THE YEAR:
Community development district infrastructure	(473)	(611)
Consolidated inventory not owned	547
Consolidated inventory not owned		(616)
Contingent consideration related to acquisition	$ 512	$ 0