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Earnest Money Deposits | 12 Months Ended
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Dec. 31, 2014
Other Restricted Assets [Abstract] |
Earnest Money Deposits | EARNEST MONEY DEPOSITS Earnest money deposits act as security for option agreements for the purchase of land for the construction of homes in the future. As of December 31, 2014 and 2013, there were 1,082 and 910 lots under option, respectively, with a total exercise price of approximately $71.6 million and $61.8 million, respectively. The option agreements in place at December 31, 2014 and 2013 provide for potential land purchase payments in each year through 2017. These lot option contracts do not have takedown schedules. If each option agreement in place at December 31, 2014 was exercised, expected land purchase payments under these agreements would be as follows (in thousands):
| Total
2015 | $ | 37,383 |
2016 | 23,269 |
2017 | 10,918 |
| $ | 71,570 |

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- Definition The entire disclosure for assets that are restricted in their use, generally by contractual agreements or regulatory requirements. This would include, but not limited to, a description of the restricted assets and the terms of the restriction. + References No definition available. + Details
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