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, 2018
USD ($)
lot
Projected Number of Lots  
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot 212
Option contracts — non-refundable deposits, committed | lot 4,105 [1]
Purchase contracts — non-refundable deposits, committed | lot 5,925 [1]
Purchase and option contracts —refundable deposits, committed | lot 1,375
Total committed | lot 11,617
Purchase and option contracts — refundable deposits, uncommitted | lot 15,041 [2]
Total lots under contract or option | lot 26,658
Total purchase and option contracts not recorded on balance sheet | lot 26,446 [3]
Purchase Price  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 36,562
Option contracts — non-refundable deposits, committed 262,689 [1]
Purchase contracts — non-refundable deposits, committed 191,356 [1]
Purchase and option contracts —refundable deposits, committed 71,916
Total committed 562,523
Purchase and option contracts — refundable deposits, uncommitted 406,151 [2]
Total lots under contract or option 968,674
Total purchase and option contracts not recorded on balance sheet 932,112 [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 27,569 [1]
Purchase contracts — non-refundable deposits, committed 16,753 [1]
Purchase and option contracts —refundable deposits, committed 987
Total committed 49,195
Purchase and option contracts — refundable deposits, uncommitted 4,584 [2]
Total lots under contract or option 53,779
Total purchase and option contracts not recorded on balance sheet $ 49,893 [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 purchase or option contracts 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, 2018.