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VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED (Tables) | 3 Months Ended
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Mar. 31, 2017
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 March 31, 2017 (dollars in thousands):
| Projected Number of Lots |  | Purchase Price |  | Option/ Earnest Money Deposits–Cash |
Purchase and option contracts recorded on balance sheet as Real estate not owned | 65 |  |  | $ | 9,987 |  |  | $ | 1,498 |  |
Option contracts — non-refundable deposits, committed (1) | 4,903 |  |  | 386,834 |  |  | 49,858 |  |
Purchase contracts — non-refundable deposits, committed (1) | 5,336 |  |  | 279,229 |  |  | 21,795 |  |
Purchase and option contracts —refundable deposits, committed | 1,173 |  |  | 67,221 |  |  | 2,663 |  |
Total committed | 11,477 |  |  | 743,271 |  |  | 75,814 |  |
Purchase and option contracts — refundable deposits, uncommitted (2) | 8,632 |  |  | 280,234 |  |  | 4,210 |  |
Total lots under contract or option | 20,109 |  |  | $ | 1,023,505 |  |  | $ | 80,024 |  |
Total purchase and option contracts not recorded on balance sheet (3) | 20,044 |  |  | $ | 1,013,518 |  |  | $ | 78,526 |  | (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 on our consolidated balance sheet in Deposits on real estate under option or contract as of March 31, 2017.

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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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