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
Sep. 30, 2017
USD ($)
lot
Projected Number of Lots  
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot 242
Option contracts — non-refundable deposits, committed | lot 3,858 [1]
Purchase contracts — non-refundable deposits, committed | lot 6,610 [1]
Purchase and option contracts —refundable deposits, committed | lot 560
Total committed | lot 11,270
Purchase and option contracts — refundable deposits, uncommitted | lot 8,465 [2]
Total lots under contract or option | lot 19,735
Total purchase and option contracts not recorded on balance sheet | lot 19,493 [3]
Purchase Price  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 39,793
Option contracts — non-refundable deposits, committed 283,709 [1]
Purchase contracts — non-refundable deposits, committed 300,962 [1]
Purchase and option contracts —refundable deposits, committed 17,669
Total committed 642,133
Purchase and option contracts — refundable deposits, uncommitted 232,952 [2]
Total lots under contract or option 875,085
Total purchase and option contracts not recorded on balance sheet 835,292 [3]
Option/ Earnest Money Deposits–Cash  
Purchase and option contracts recorded on balance sheet as Real estate not owned 4,025
Option contracts — non-refundable deposits, committed 37,927 [1]
Purchase contracts — non-refundable deposits, committed 24,255 [1]
Purchase and option contracts —refundable deposits, committed 902
Total committed 67,109
Purchase and option contracts — refundable deposits, uncommitted 4,463 [2]
Total lots under contract or option 71,572
Total purchase and option contracts not recorded on balance sheet $ 67,547 [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 September 30, 2017.