<SUBMISSION>
<ACCESSION-NUMBER>0001299933-08-003841
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20080811
<ITEMS>2.02
<ITEMS>7.01
<ITEMS>9.01
<FILING-DATE>20080811
<DATE-OF-FILING-DATE-CHANGE>20080811
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>AVATAR HOLDINGS INC
<CIK>0000039677
<ASSIGNED-SIC>1531
<IRS-NUMBER>231739078
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-07395
<FILM-NUMBER>081004824
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>201 ALHAMBRA CIRCLE
<CITY>CORAL GABLES
<STATE>FL
<ZIP>33134
<PHONE>3054427000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>201 ALHAMBRA CIRCLE
<CITY>CORAL GABLES
<STATE>FL
<ZIP>33134
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>GAC CORP /DE/
<DATE-CHANGED>19801023
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>GENERAL ACCEPTANCE CORP
<DATE-CHANGED>19710208
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>htm_28480.htm
<DESCRIPTION>LIVE FILING
<TEXT>
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<TITLE> Avatar Holdings Inc. (Form: 8-K) </TITLE>
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		UNITED STATES<BR>
	SECURITIES AND EXCHANGE COMMISSION
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	WASHINGTON, D.C. 20549
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	FORM 8-K
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	CURRENT REPORT
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	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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	Date of Report (Date of Earliest Event Reported):
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	&nbsp;
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	August 11, 2008
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	Avatar Holdings Inc.
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<BR>__________________________________________<BR>
	(Exact name of registrant as specified in its charter)
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	Delaware
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	001-07395
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	231739078
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_____________________<BR>
	(State or other jurisdiction
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_____________<BR>
	(Commission
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______________<BR>
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	of incorporation)
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	File Number)
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	Identification No.)
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	201 Alhambra Circle, Coral Gables, Florida
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	33134
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_________________________________<BR>
	(Address of principal executive offices)
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___________<BR>
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	1-305-442-7000
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	Not Applicable
<BR>______________________________________________<BR>
	Former name or former address, if changed since last report
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	&nbsp;
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:</FONT>
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[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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	Item 2.02 Results of Operations and Financial Condition.
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On August 11, 2008, Avatar Holdings Inc. issued a press release announcing its results for the three months ended June 30, 2008.  A copy of that press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.<br><br>
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	Item 7.01 Regulation FD Disclosure.
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The information furnished pursuant to Item 2.02, "Results of Operations and Financial Condition", is incorporated herein by reference.
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	Item 9.01 Financial Statements and Exhibits.
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(c)  Exhibits<br><br>     99.1             Press Release dated August 11, 2008
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<BR><BR><BR><BR><P ALIGN="LEFT" STYLE="FONT-SIZE: 10PT">The information in this report, including the exhibit hereto, shall not be deemed to be "filed" for the purposes of Section 18 of the Securities and Exchange Act of 1934, or otherwise subject to the liabilities of that Section.  The information in this report, including the exhibit hereto, shall not be incorporated by reference into any filing of the registrant with the SEC, whether made before or after the date hereof, regardless of any general incorporation language in such filings (unless the registrant specifically states that the information or exhibit in this particular report is incorporated by reference).</P><!-- PageBreak START -->
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	SIGNATURES
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	Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
	undersigned hereunto duly authorized.
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	Avatar Holdings Inc.
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	&nbsp;&nbsp;
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	August 11, 2008
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	By:
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<I>
	Juanita I. Kerrigan
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	Name: Juanita I. Kerrigan
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	Title: Vice President and Secretary
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	Exhibit&nbsp;Index
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	99.1
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Press Release dated August 11, 2008
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<P align="left" style="font-size: 10pt"><FONT style="font-size: 19pt"><B>AVATAR</B>
</FONT>

<P align="left" style="font-size: 19pt"><FONT style="font-size: 10pt"><U>FOR IMMEDIATE RELEASE</U>
<BR>
<B>Contact : </B>Avatar Holdings Inc.
</FONT>

<P align="left" style="font-size: 10pt; text-indent: 5%">201 Alhambra Circle


<P align="left" style="font-size: 10pt; text-indent: 5%">Coral Gables, FL 33134


<P align="left" style="font-size: 10pt; text-indent: 5%">Juanita I. Kerrigan


<P align="left" style="font-size: 10pt; text-indent: 5%">(305)&nbsp;442-7000


<P align="left" style="font-size: 10pt; text-indent: 4%"><FONT style="font-size: 12pt"><B>AVATAR REPORTS SECOND QUARTER RESULTS OF OPERATIONS</B>
</FONT>

<P align="left" style="font-size: 12pt; text-indent: 3%">Coral Gables, FL &#150; August&nbsp;11, 2008 &#150; Avatar Holdings Inc. (NASDAQ-AVTR) today reported a net
loss of $6,540,000 ($0.77 per share, diluted) on revenues of $24,930,000 for the three months ended
June&nbsp;30, 2008, compared to net income of $5,271,000 ($0.55 per share, diluted) on revenues of
$81,255,000 for the three months ended June&nbsp;30, 2007.


<P align="left" style="font-size: 12pt; text-indent: 3%">For the six months ended June&nbsp;30, 2008, Avatar reported a net loss of $7,096,000 ($0.83 per
share, diluted) on revenues of $55,462,000, compared to net income of $16,379,000 ($1.63 per share,
diluted) on revenues of $173,700,000 for the same period in 2007.


<P align="left" style="font-size: 12pt; text-indent: 3%">During the three months ended June&nbsp;30, 2008, Avatar closed on 70 homes, a 68.5% decrease from
the 222 homes closed during the three months ended June&nbsp;30, 2007. Dollar volume decreased by 74.3%
to $18,055,000 compared to $70,136,000 for the three months ended June&nbsp;30, 2007.


<P align="left" style="font-size: 12pt; text-indent: 3%">During the first six months of 2008, Avatar closed on 135 homes, a 70.1% decrease from the 452
units closed during the comparable period of 2007. Dollar volume decreased by 76.3% to $35,532,000,
compared to $149,738,000 for the first six months of 2007.


<P align="left" style="font-size: 12pt; text-indent: 3%">The number of housing contracts signed, net of cancellations, during the three months ended
June&nbsp;30, 2008 declined by 48% to 66, compared to 127 for the three months ended June&nbsp;30, 2007. The
dollar volume of contracts signed declined by 33.2% compared to the three months ended June&nbsp;30,
2007, to $17,980,000 compared to $26,929,000.


<P align="left" style="font-size: 12pt; text-indent: 3%">The number of housing contracts signed, net of cancellations, for the six months ended June
30, 2008 declined by 55.8% to 119, compared to 269 for the first six months of 2007. The dollar
volume of contracts signed declined by 53.5% compared to the first six months of 2007, to
$30,253,000 compared to $65,020,000.


<P align="left" style="font-size: 12pt; text-indent: 3%">Our sales results continue to reflect the weak market for new single-family and multi-family
residences in our markets. We continue to experience a high level of cancellations of sales
contracts for homes. We do not anticipate a meaningful improvement in our markets in the near term.
Our focus remains on managing Avatar and its assets for the long-term benefit of our shareholders,
including the identification and monetization of commercial and industrial land. While the level
and duration of the downturn cannot currently be predicted, we anticipate that these conditions
will continue to have an adverse effect on our earnings for the balance of 2008.


<P align="left" style="font-size: 12pt; text-indent: 3%">Results for the six and three months ended June&nbsp;30, 2008 include pre-tax income of $9,107,000
on revenues of $9,562,000 and $2,037,000 on revenues of $2,134,000, respectively, from commercial,
industrial and other land sales. For the six and three months ended June&nbsp;30, 2007, results
included pre-tax income of $7,137,000 on revenues of $9,049,000 and $2,379,000 on revenues of
$3,489,000, respectively, from commercial, industrial and other land sales.


<P align="left" style="font-size: 12pt; text-indent: 3%">At June&nbsp;30, 2008, Avatar had cash and cash equivalents of $156,037,000. The Company&#146;s total
borrowings are $114,930,000, which includes $114,800,000 of 4.50% Convertible Senior Notes due
2024. Avatar had no amounts outstanding under its $100,000,000 revolving credit facility, except
$34,520,000 in letters of credit. Avatar&#146;s book value per share at June&nbsp;30, 2008 is $61.15.


<P align="center" style="font-size: 12pt">* * * * * * *



<P align="left" style="font-size: 12pt; text-indent: 3%"><FONT style="font-size: 9pt">Avatar Holdings Inc. is primarily engaged in real estate operations in Florida and
Arizona. Its principal real estate operations are conducted at Poinciana, Solivita and Bellalago
in central Florida near Orlando, TerraLargo in Lakeland, Florida, and at Rio Rico, south of Tucson,
AZ. Avatar&#146;s common shares trade on The Nasdaq Stock Market LLC under the symbol AVTR.
</FONT>

<P align="left" style="font-size: 9pt; text-indent: 3%">Certain statements discussed herein constitute &#147;forward-looking statements&#148; within the meaning
of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve
known and unknown risks, uncertainties and other important factors that could cause the actual
results, performance or achievements of results to differ materially from any future results,
performance or achievements expressed or implied by such forward-looking statements. Such risks,
uncertainties and other important factors include, among others: international, national and local
market conditions and events such as the oversupply of existing homes caused by the number of
investor and speculator resale homes for sale in our communities and in the geographic areas in
which we develop and sell homes; tightening of the credit market and the reduced availability and
more stringent financing requirements of residential mortgage financing in general and sub prime
financing in particular; interest rates; mortgage rates; employment levels; income levels; consumer
confidence; the successful implementation of Avatar&#146;s business strategy; shifts in demographic
trends affecting demand for active adult and primary housing; the level of immigration and
in-migration into the areas in which we conduct real estate activities; the level of competition in
geographic areas in which we do business; Avatar&#146;s access to financing; changes in, or the failure
or inability to comply with, government regulations; and other factors as are described in Avatar&#146;s
filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for
the fiscal year ended December&nbsp;31, 2007. Active adult homes are intended for occupancy by at least
one person 55&nbsp;years or older.


<P align="center" style="font-size: 9pt"># # #



<P align="center" style="font-size: 9pt"><FONT style="font-size: 12pt"><U><B>SELECTED FINANCIAL DATA FOR THE SIX MONTHS AND THREE MONTHS ENDED </B></U><BR>
<U><B>JUNE 30, 2008 AND 2007</B></U></FONT><BR>
<FONT style="font-size: 11pt">(<I>Unaudited &#150; Dollars in thousands except per share data</I>)</FONT>


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    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<TR style="font-size: 11.5pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>Six Months</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>Three Months</B></TD>
</TR>
<TR style="font-size: 11.5pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>2008</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>2007</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>2008</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>2007</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Revenues</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">55,462</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">173,700</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">24,930</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">81,255</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Income (loss)&nbsp;before income taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(11,480</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">24,833</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(10,599</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">7,655</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Income tax benefit (expense)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">4,384</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(8,454</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">4,059</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(2,384</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Net income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(7,096</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">16,379</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(6,540</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,271</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Basic EPS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(0.83</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1.98</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(0.77</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0.64</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Diluted EPS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(0.83</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1.63</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(0.77</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0.55</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 11.5pt"><FONT style="font-size: 12pt"><U>Selected Balance Sheet Data</U> </FONT><FONT style="font-size: 11.5pt">
</FONT>
<DIV align="center">
<TABLE style="font-size: 11.5pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="60%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 11.5pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">June 30, 2008</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">December 31, 2007</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Cash and cash equivalents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">156,037</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">192,258</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Total assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">685,062</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">706,541</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Total stockholders&#146; equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">522,242</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">527,703</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Book value per share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">61.15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">61.90</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



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