Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
OPERATING ACTIVITIES:
Net income (loss)	$ 18	$ (26,183)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Inventory valuation adjustments and abandoned land transaction write-offs	823	15,637
Impairment of investment in Unconsolidated LLCs	0	979
Bargain Purchase Gain	(1,219)	0
Mortgage loan originations	(216,055)	(164,123)
Proceeds from the sale of mortgage loans	223,655	173,861
Fair value adjustment of mortgage loans held for sale	(104)	(2,151)
Depreciation	2,808	2,517
Amortization of intangibles, debt discount and debt issue costs	1,178	1,271
Stock-based compensation expense	964	1,042
Deferred income tax benefit (expense)	143	(10,312)
Deferred tax asset valuation (benefit) expense	(143)	10,312
Other	1	(181)
Change in assets and liabilities:
Cash held in escrow	(15)	(3,731)
Inventory	(47,557)	(23,063)
Other assets	(1,666)	1,722
Accounts payable	8,975	13,438
Customer deposits	6,136	1,911
Accrued compensation	(1,431)	(1,171)
Other liabilities	(40)	(294)
Net cash (used in) provided by operating activities	(23,529)	(8,519)
INVESTING ACTIVITIES:
Change in restricted cash	28,756	(23,248)
Purchase of property and equipment	(252)	(709)
Acquisition, net of cash acquired	(4,707)	(4,654)
Investment in Unconsolidated LLCs	(563)	(454)
Return of investment from Unconsolidated LLCs	0	21
Net cash provided by (used in) investing activities	23,234	(29,044)
FINANCING ACTIVITIES:
Repayment of Senior Notes, including transaction costs	(41,443)	0
Net proceeds from issuance of senior notes	29,700	0
Repayments of bank borrowings - net	(6,263)	(64)
Proceeds from (principal repayments of) note payable-other and community development district bond obligations	4,965	(52)
Debt issue costs	(2,900)	(220)
Proceeds from exercise of stock options	740	1,433
Excess tax deficiency from stock-based payment arrangements	0	158
Net cash (used in) provided by financing activities	(15,201)	1,255
Net increase (decrease) in cash and cash equivalents	(15,496)	(36,308)
Cash and cash equivalents balance at beginning of period	59,793	81,208
Cash and cash equivalents balance at end of period	44,297	44,900
SUPPLEMENTAL DISCLOSURE OF CASH PAID DURING THE YEAR:
Interest — net of amount capitalized	7,234	6,453
Income taxes	212	219
NON-CASH TRANSACTIONS DURING THE PERIOD
Community development district infrastructure	(657)	(473)
Consolidated inventory not owned	3,096	547
Contingent consideration related to acquisition	$ 0	$ 512