Annual report pursuant to Section 13 and 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
Dec. 31, 2016
USD ($)
lot
Projected Number of Lots (unaudited)  
Option contracts — non-refundable deposits, committed | lot 4,608 [1]
Purchase contracts — non-refundable deposits, committed | lot 3,861 [1]
Purchase and option contracts —refundable deposits, committed | lot 1,966
Total committed | lot 10,435
Purchase and option contracts — refundable deposits, uncommitted | lot 6,744 [2]
Total purchase and option contracts | lot 17,179 [3]
Purchase Price (unaudited)  
Option contracts — non-refundable deposits, committed $ 413,812 [1]
Purchase contracts — non-refundable deposits, committed 222,741 [1]
Purchase and option contracts —refundable deposits, committed 60,028
Total committed 696,581
Purchase and option contracts — refundable deposits, uncommitted 289,500 [2]
Total purchase and option contracts 986,081 [3]
Option/ Earnest Money Deposits–Cash  
Option contracts — non-refundable deposits, committed 59,380 [1]
Purchase contracts — non-refundable deposits, committed 16,463 [1]
Purchase and option contracts —refundable deposits, committed 3,844
Total committed 79,687
Purchase and option contracts — refundable deposits, uncommitted 5,869 [2]
Total purchase and option contracts $ 85,556 [3]
[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] Amount is reflected in our consolidated balance sheet in the line item “Deposits on real estate under option or contract” as of December 31, 2016.