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VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details) $ in Thousands | Mar. 31, 2019 USD ($) lot
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Projected Number of Lots |  |
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot | 0 |
Option contracts — non-refundable deposits, committed | lot | 3,620 | [1]
Purchase contracts — non-refundable deposits, committed | lot | 5,569 | [1]
Purchase and option contracts —refundable deposits, committed | lot | 764 |
Total committed | lot | 9,953 |
Purchase and option contracts — refundable deposits, uncommitted | lot | 9,567 | [2]
Total lots under contract or option | lot | 19,520 |
Total purchase and option contracts not recorded on balance sheet | lot | 19,520 | [3]
Purchase Price |  |
Purchase and option contracts recorded on balance sheet as Real estate not owned | $ 0 |
Option contracts — non-refundable deposits, committed | 244,783 | [1]
Purchase contracts — non-refundable deposits, committed | 198,841 | [1]
Purchase and option contracts —refundable deposits, committed | 30,325 |
Total committed | 473,949 |
Purchase and option contracts — refundable deposits, uncommitted | 335,126 | [2]
Total lots under contract or option | 809,075 |
Total purchase and option contracts not recorded on balance sheet | 809,075 | [3]
Option/ Earnest Money Deposits–Cash |  |
Purchase and option contracts recorded on balance sheet as Real estate not owned | 0 |
Option contracts — non-refundable deposits, committed | 27,493 | [1]
Purchase contracts — non-refundable deposits, committed | 12,738 | [1]
Purchase and option contracts —refundable deposits, committed | 481 |
Total committed | 40,712 |
Purchase and option contracts — refundable deposits, uncommitted | 4,115 | [2]
Total lots under contract or option | 44,827 |
Total purchase and option contracts not recorded on balance sheet | $ 44,827 | [3],[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 purchase or option contracts 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, 2019.

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