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VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED (Tables) | 12 Months Ended
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Dec. 31, 2015
Variable Interest Entities and Consolidated Real Estate Not Owned [Abstract] |
Summary of Lots Under Option | The table below presents a summary of our lots under option at December 31, 2015 (dollars in thousands):
|  | Projected Number of Lots (unaudited) |  | Purchase Price (unaudited) |  | Option/ Earnest Money Deposits–Cash |  |
Purchase and option contracts recorded on balance sheet as Real estate not owned |  | — |  |  | $ | — |  |  | $ | — |  |  |
Option contracts not recorded on balance sheet — non-refundable deposits, committed (1) |  | 6,058 |  |  | 581,635 |  |  | 75,985 |  |  |
Purchase contracts not recorded on balance sheet — non-refundable deposits, committed (1) |  | 2,011 |  |  | 89,107 |  |  | 7,004 |  |  |
Purchase contracts not recorded on balance sheet —refundable deposits, committed |  | 508 |  |  | 16,423 |  |  | 805 |  |  |
Total committed (on and off balance sheet) |  | 8,577 |  |  | 687,165 |  |  | 83,794 |  |  |
Total purchase and option contracts not recorded on balance sheet — refundable deposits, uncommitted (2) |  | 4,331 |  |  | 240,093 |  |  | 4,045 |  |  |
Total lots under contract or option |  | 12,908 |  |  | $ | 927,258 |  |  | $ | 87,839 |  |  |
Total option contracts not recorded on balance sheet (3) |  | 12,908 |  | $ | 927,258 |  |  | $ | 87,839 |  |  | (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 in our consolidated balance sheet in the line item “Deposits on real estate under option or contract” as of December 31, 2015.

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- Definition The tabular disclosure of the Company's real estate lots currently under option or contract with a third party including a detailed description of the number of lots, the purchase price and the amount of earnest money (if any)as of the balance sheet date. + References No definition available. + Details
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- Definition Variable interest entities and consolidated real estate not owned. + References No definition available. + Details
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