Quarterly report pursuant to Section 13 or 15(d)

VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)

v3.4.0.3
VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Mar. 31, 2016
USD ($)
lot
Projected Number of Lots  
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot 0
Option contracts not recorded on balance sheet — non-refundable deposits, committed | lot 5,655 [1]
Purchase contracts not recorded on balance sheet — non-refundable deposits, committed | lot 2,896 [1]
Purchase contracts not recorded on balance sheet —refundable deposits, committed | lot 494
Total committed (on and off balance sheet) | lot 9,045
Total purchase and option contracts not recorded on balance sheet — refundable deposits, uncommitted | lot 4,814 [2]
Total lots under contract or option | lot 13,859
Total purchase and option contracts not recorded on balance sheet | lot 13,859 [3]
Purchase Price  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 0
Option contracts not recorded on balance sheet — non-refundable deposits, committed 543,886 [1]
Purchase contracts not recorded on balance sheet — non-refundable deposits, committed 176,528 [1]
Purchase contracts not recorded on balance sheet —refundable deposits, committed 58,030
Total committed (on and off balance sheet) 778,444
Total purchase and option contracts not recorded on balance sheet — refundable deposits, uncommitted 239,320 [2]
Total lots under contract or option 1,017,764
Total purchase and option contracts not recorded on balance sheet 1,017,764 [3]
Option/ Earnest Money Deposits–Cash  
Purchase and option contracts recorded on balance sheet as Real estate not owned 0
Option contracts not recorded on balance sheet — non-refundable deposits, committed 73,559 [1]
Purchase contracts not recorded on balance sheet — non-refundable deposits, committed 7,615 [1]
Purchase contracts not recorded on balance sheet —refundable deposits, committed 4,225
Total committed (on and off balance sheet) 85,399
Total purchase and option contracts not recorded on balance sheet — refundable deposits, uncommitted 6,592 [2]
Total lots under contract or option 91,991
Total purchase and option contracts not recorded on balance sheet $ 91,991 [3],[4]
[1] Deposits are non-refundable except if certain contractual conditions are not performed by the selling party.
[2] Deposits are refundable at our sole discretion. We have not completed our acquisition evaluation process and we have not internally committed to purchase these lots.
[3] Except for our specific performance contracts recorded on our balance sheet as Real estate not owned, if any, none of our option agreements require us to purchase lots
[4] Amount is reflected in our consolidated balance sheet in the line item "Deposits on real estate under option or contract" as of March 31, 2016.