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, 2018
USD ($)
lot
Projected Number of Lots  
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot 228
Option contracts — non-refundable deposits, committed | lot 2,971 [1]
Purchase contracts — non-refundable deposits, committed | lot 6,475 [1]
Purchase and option contracts —refundable deposits, committed | lot 318
Total committed | lot 9,992
Purchase and option contracts — refundable deposits, uncommitted | lot 7,628 [2]
Total lots under contract or option | lot 17,620
Total purchase and option contracts not recorded on balance sheet | lot 17,392 [3]
Purchase Price  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 38,864
Option contracts — non-refundable deposits, committed 217,204 [1]
Purchase contracts — non-refundable deposits, committed 263,419 [1]
Purchase and option contracts —refundable deposits, committed 12,059
Total committed 531,546
Purchase and option contracts — refundable deposits, uncommitted 193,388 [2]
Total lots under contract or option 724,934
Total purchase and option contracts not recorded on balance sheet 686,070 [3]
Option/ Earnest Money Deposits–Cash  
Purchase and option contracts recorded on balance sheet as Real estate not owned 3,886
Option contracts — non-refundable deposits, committed 25,533 [1]
Purchase contracts — non-refundable deposits, committed 24,194 [1]
Purchase and option contracts —refundable deposits, committed 734
Total committed 54,347
Purchase and option contracts — refundable deposits, uncommitted 2,078 [2]
Total lots under contract or option 56,425
Total purchase and option contracts not recorded on balance sheet $ 52,539 [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, 2018.