Quarterly report pursuant to Section 13 or 15(d)

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

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VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Mar. 31, 2017
USD ($)
lot
Projected Number of Lots  
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot 65
Option contracts not recorded on balance sheet — non-refundable deposits, committed | lot 4,903 [1]
Purchase contracts not recorded on balance sheet — non-refundable deposits, committed | lot 5,336 [1]
Purchase contracts not recorded on balance sheet —refundable deposits, committed | lot 1,173
Total committed (on and off balance sheet) | lot 11,477
Total purchase and option contracts not recorded on balance sheet — refundable deposits, uncommitted | lot 8,632 [2]
Total lots under contract or option | lot 20,109
Total purchase and option contracts not recorded on balance sheet | lot 20,044 [3]
Purchase Price  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 9,987
Option contracts not recorded on balance sheet — non-refundable deposits, committed 386,834 [1]
Purchase contracts not recorded on balance sheet — non-refundable deposits, committed 279,229 [1]
Purchase contracts not recorded on balance sheet —refundable deposits, committed 67,221
Total committed (on and off balance sheet) 743,271
Total purchase and option contracts not recorded on balance sheet — refundable deposits, uncommitted 280,234 [2]
Total lots under contract or option 1,023,505
Total purchase and option contracts not recorded on balance sheet 1,013,518 [3]
Option/ Earnest Money Deposits–Cash  
Purchase and option contracts recorded on balance sheet as Real estate not owned 1,498
Option contracts not recorded on balance sheet — non-refundable deposits, committed 49,858 [1]
Purchase contracts not recorded on balance sheet — non-refundable deposits, committed 21,795 [1]
Purchase contracts not recorded on balance sheet —refundable deposits, committed 2,663
Total committed (on and off balance sheet) 75,814
Total purchase and option contracts not recorded on balance sheet — refundable deposits, uncommitted 4,210 [2]
Total lots under contract or option 80,024
Total purchase and option contracts not recorded on balance sheet $ 78,526 [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, none of our option agreements require us to purchase lots.
[4] Amount is reflected on our consolidated balance sheet in Deposits on real estate under option or contract as of March 31, 2017.