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Real Estate and Capitalized Interest (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014
Summary of capitalized interest |  |  |  |  |
Capitalized interest, beginning of period |  | $ 56,843 | $ 38,701 | $ 54,060 | $ 32,992
Interest incurred |  | 16,526 | 14,382 | 31,808 | 28,638
Interest expensed |  | (4,621) | (1,396) | (7,775) | (4,109)
Interest amortized to cost of home and land closings |  | (9,878) | (7,332) | (19,223) | (13,166)
Capitalized interest, end of period | [1] | 58,870 | $ 44,355 | 58,870 | $ 44,355
Equity Method Land Ventures [Member] |  |  |  |  |
Summary of capitalized interest |  |  |  |  |
Capitalized interest, beginning of period |  |  |  | 490 |
Capitalized interest, end of period |  | $ 490 |  | $ 490 |
[1] | Approximately $490,000 of the capitalized interest is related to our joint venture investments and is a component of Investments in unconsolidated entities in our consolidated balance sheet as of June 30, 2015 and December 31, 2014.

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- Definition Amount of the cost of borrowed funds accounted for as interest expense. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.9) -URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 9 -Article 9 + Details
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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 + Details
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- Definition The amount of interest costs that had been capitalized to inventory which were charged to cost of sales 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 -URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391 + 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 + Details
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