Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
OPERATING ACTIVITIES:
Net income (loss)	$ 26,186	$ 11,851
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Inventory valuation adjustments and abandoned land transaction write-offs	804	2,101
Equity in loss (income) of unconsolidated joint ventures	(40)	0
Mortgage loan originations	(278,410)	(260,976)
Proceeds from the sale of mortgage loans	298,953	279,023
Fair value adjustment of mortgage loans held for sale	(3,515)	1,583
Capitalization of originated Mortgage Servicing Rights	(2,006)	0
Amortization of Mortgage Servicing Rights (MSRs)	362	0
Depreciation	2,392	2,566
Amortization of intangibles, debt discount and debt issue costs	1,557	1,753
Stock-based compensation expense	1,794	1,316
Deferred Income Tax Expense	10,644	4,462
Deferred tax asset valuation allowances	(9,291)	(4,462)
Change in assets and liabilities:
Cash held in escrow	7	71
Inventory	(122,616)	(78,265)
Other assets	(2,760)	(5,044)
Accounts payable	17,099	14,198
Customer deposits	3,757	5,233
Accrued compensation	(9,991)	(3,646)
Other liabilities	(1,595)	3,058
Net cash (used in) provided by operating activities	(66,669)	(25,178)
INVESTING ACTIVITIES:
Change in restricted cash	3,819	(3,869)
Purchase of property and equipment	(1,677)	(1,050)
Investment in unconsolidated joint ventures	(13,484)	(18,288)
Net Proceeds from Sale of Mortgage Servicing Rights	2,135	0
Net cash used in investing activities	(9,207)	(23,207)
FINANCING ACTIVITIES:
Proceeds from issuance of convertible senior subordinated notes	0	86,250
Repayments of bank borrowings - net	(18,115)	(17,515)
Principal repayments of notes payable-other and CDD bond obligations	(73)	(1,676)
Dividends paid on preferred shares	(2,438)	(1,219)
Net proceeds from issuance of common shares	0	54,617
Payments for Repurchase of Redeemable Preferred Stock	0	(50,352)
Debt issue costs	(40)	(3,605)
Proceeds from exercise of stock options	1,460	2,639
Net cash (used in) provided by financing activities	(19,206)	69,139
Net increase (decrease) in cash and cash equivalents	(95,082)	20,754
Cash and cash equivalents balance at beginning of period	128,725	145,498
Cash and cash equivalents balance at end of period	33,643	166,252
SUPPLEMENTAL DISCLOSURE OF CASH PAID DURING THE YEAR:
Interest — net of amount capitalized	5,238	6,235
Income taxes	550	447
NON-CASH TRANSACTIONS DURING THE PERIOD
Community development district infrastructure	(1,246)	(764)
Consolidated inventory not owned	(507)	(17,224)
Distribution of single-family lots from unconsolidated joint ventures	$ 6,608	$ 1,366