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VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED (Tables) | 3 Months Ended
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Mar. 31, 2018
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, 2018 (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 | 228 |  |  | $ | 38,864 |  |  | $ | 3,886 |  |
Option contracts — non-refundable deposits, committed (1) | 2,971 |  |  | 217,204 |  |  | 25,533 |  |
Purchase contracts — non-refundable deposits, committed (1) | 6,475 |  |  | 263,419 |  |  | 24,194 |  |
Purchase and option contracts —refundable deposits, committed | 318 |  |  | 12,059 |  |  | 734 |  |
Total committed | 9,992 |  |  | 531,546 |  |  | 54,347 |  |
Purchase and option contracts — refundable deposits, uncommitted (2) | 7,628 |  |  | 193,388 |  |  | 2,078 |  |
Total lots under contract or option | 17,620 |  |  | $ | 724,934 |  |  | $ | 56,425 |  |
Total purchase and option contracts not recorded on balance sheet (3) | 17,392 |  |  | $ | 686,070 |  |  | $ | 52,539 |  | (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, 2018.

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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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