Meritage Homes Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2012

Summary of long lived real estate assets


	Hierarchy		Three Months Ended June 30,				Six Months Ended June 30,
	Hierarchy		2012		2011 (2)		2012		2011 (2)
Description:
Adjusted Basis of Long-Lived Real Estate Assets (1)		Level 3	$	9,399	$	12,556	$	11,688	$	13,949
Impairments				863		590		1,156		1,254

Initial Basis of Long-Lived Real Estate Assets			$	10,262	$	13,146	$	12,844	$	15,203

(1)	The fair values in the table above represent only those real estate assets whose carrying values were adjusted in the respective period.

(2)	The carrying values for these real-estate assets may have subsequently increased or decreased from the fair value reported due to activities that have occurred since the measurement date.

Fair value of our fixed-rate debt


	Hierarchy		June 30, 2012				December 31, 2011
	Hierarchy		Aggregate Principal		Estimated Fair Value		Aggregate Principal		Estimated Fair Value
6.25% senior notes		Level 2		N/A		N/A	$	285,000	$	278,588
7.731% senior subordinated notes		Level 2	$	99,825	$	103,069	$	125,875	$	110,770
7.15% senior notes		Level 2	$	200,000	$	209,000	$	200,000	$	190,000
7.00% senior notes		Level 2	$	300,000	$	309,750		N/A		N/A

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring and/or nonrecurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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