Quarterly report pursuant to Section 13 or 15(d)

Variable Interest Entities and Consolidated Real Estate Not Owned (Tables)

v2.4.0.6
Variable Interest Entities and Consolidated Real Estate Not Owned (Tables)
 3 Months Ended
Mar. 31, 2013
Variable Interest Entities and Consolidated Real Estate Not Owned [Abstract]  
Summary of lots under option or contract
 
Number of
Lots
 
Purchase
Price
 
Option/Earnest
Money Deposits
Cash
 
Purchase and option contracts recorded on balance sheet as Real estate not owned
—

 
$
—

 
$
—

  
Purchase and option contracts not recorded on balance sheet — non-refundable deposits, committed (1)
3,372

 
140,654

 
9,463

  
Purchase and option contracts not recorded on balance sheet — refundable deposits, committed
679

 
26,671

 
575

  
Total committed (on and off balance sheet)
4,051

 
167,325

 
10,038

  
Total purchase and option contracts not recorded on balance sheet — refundable deposits, uncommitted (2)
2,487

 
70,059

 
1,283

  
Total lots under contract or option
6,538

 
$
237,384

 
$
11,321

  
Total option contracts not recorded on balance sheet
6,538

 
$
237,384

 
$
11,321

(3)
 
(1)
Deposits are generally non-refundable except if certain contractual conditions fail or certain contractual obligations 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 March 31, 2013.