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VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED (Tables) | 12 Months Ended
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Dec. 31, 2016
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 that are not recorded on the balance sheet at December 31, 2016 (dollars in thousands):
|  | Projected Number of Lots (unaudited) |  | Purchase Price (unaudited) |  | Option/ Earnest Money Deposits–Cash |  |
Option contracts — non-refundable deposits, committed (1) |  | 4,608 |  |  | $ | 413,812 |  |  | $ | 59,380 |  |  |
Purchase contracts — non-refundable deposits, committed (1) |  | 3,861 |  |  | 222,741 |  |  | 16,463 |  |  |
Purchase and option contracts —refundable deposits, committed |  | 1,966 |  |  | 60,028 |  |  | 3,844 |  |  |
Total committed |  | 10,435 |  |  | 696,581 |  |  | 79,687 |  |  |
Purchase and option contracts — refundable deposits, uncommitted (2) |  | 6,744 |  |  | 289,500 |  |  | 5,869 |  |  |
Total purchase and option contracts |  | 17,179 |  |  | $ | 986,081 |  |  | $ | 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.

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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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