Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
OPERATING ACTIVITIES:
Net income	$ 22,918	$ 26,186
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Inventory valuation adjustments and abandoned land transaction write-offs	0	804
Equity in loss (income) of unconsolidated joint ventures	(212)	(40)
Mortgage loan originations	(333,684)	(278,410)
Proceeds from the sale of mortgage loans	350,591	298,953
Fair value adjustment of mortgage loans held for sale	824	(3,515)
Capitalization of originated Mortgage Servicing Rights	(2,283)	(2,006)
Amortization of Mortgage Servicing Rights (MSRs)	552	362
Depreciation	3,141	2,392
Amortization of debt discount and debt issue costs	1,594	1,557
Stock-based compensation expense	1,978	1,794
Deferred Income Tax Expense	13,358	10,644
Deferred tax asset valuation allowances	0	(9,291)
Change in assets and liabilities:
Cash held in escrow	194	7
Inventory	(108,165)	(122,616)
Other assets	(6,551)	(2,760)
Accounts payable	15,305	17,099
Customer deposits	6,679	3,757
Accrued compensation	(11,387)	(9,991)
Other liabilities	(1,062)	(1,595)
Net cash (used in) provided by operating activities	(46,210)	(66,669)
INVESTING ACTIVITIES:
Change in restricted cash	1,583	3,819
Purchase of property and equipment	(1,401)	(1,677)
Investment in unconsolidated joint ventures	(4,210)	(13,484)
Net Proceeds from Sale of Mortgage Servicing Rights	0	2,135
Net cash used in investing activities	(4,028)	(9,207)
FINANCING ACTIVITIES:
Proceeds from bank borrowings - homebuilding operations	220,700	0
Repayments of bank borrowings - homebuilding operations	(145,100)	0
Net proceeds from (Repayments of) bank borrowings - financial services operations	(15,698)	(18,115)
Principal repayments of notes payable-other and CDD bond obligations	(1,288)	(73)
Dividends paid on preferred shares	(2,438)	(2,438)
Debt issue costs	(40)	(40)
Proceeds from exercise of stock options	340	1,460
Net cash (used in) provided by financing activities	56,476	(19,206)
Net increase (decrease) in cash and cash equivalents	6,238	(95,082)
Cash and cash equivalents balance at beginning of period	15,535	128,725
Cash and cash equivalents balance at end of period	21,773	33,643
SUPPLEMENTAL DISCLOSURE OF CASH PAID DURING THE YEAR:
Interest — net of amount capitalized	6,696	5,238
Income taxes	1,278	550
NON-CASH TRANSACTIONS DURING THE PERIOD
Community development district infrastructure	(1,075)	(1,246)
Consolidated inventory not owned	13,507	(507)
Distribution of single-family lots from unconsolidated joint ventures	$ 3,834	$ 6,608