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Real Estate and Capitalized Interest (Details 3) (USD $) In Thousands, unless otherwise specified | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2012 | Sep. 30, 2011
Summary of capitalized interest |  |  |  |  |  |  |  |
Capitalized interest, beginning of period | $ 17,836 |  | $ 13,205 |  | $ 14,810 |  | $ 11,679 |
Interest incurred | 11,654 |  | 10,848 |  | 33,819 |  | 32,545 |
Interest expense | (5,009) |  | (7,517) |  | (18,718) |  | (23,036) |
Interest amortized to cost of home, land closings and impairments | (4,296) |  | (2,421) |  | (9,726) |  | (7,073) |
Capitalized interest, end of period | $ 20,185 | [1] | $ 14,115 | [1] | $ 20,185 | [1] | $ 14,115 | [1]
[1] | Approximately $750,000 of the capitalized interest is related to our joint venture investments and is a component of “Investments in unconsolidated entities” on our consolidated balance sheets as of September 30, 2012 and December 31, 2011.

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- Definition Carrying amount as of the balance sheet date of interest costs that were capitalized to properties under development during the land development and construction period of a project, and which are included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 34 -Paragraph 21 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition The amount of interest capitalized to an operative builder's inventory during the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 34 -Paragraph 21 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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