<SUBMISSION>
<ACCESSION-NUMBER>0001299933-08-005870
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20081215
<ITEMS>7.01
<ITEMS>9.01
<FILING-DATE>20081215
<DATE-OF-FILING-DATE-CHANGE>20081215
<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>081248802
</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_30387.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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	December 15, 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>
	(I.R.S. Employer
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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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	&nbsp;
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___________<BR>
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	Registrant&#146;s telephone number, including area code:
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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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<!-- CoverPageRegistrant END --><P><FONT SIZE="2">
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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<P><FONT SIZE="2">
[&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 7.01 Regulation FD Disclosure.
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The information set forth in the press release issued by Avatar Holdings Inc. on December 15, 2008, reporting on action by the Board of Directors on December 12, 2008, attached hereto as Exhibit 99.1, is incorporated herein by reference.
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	Item 9.01 Financial Statements and Exhibits.
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(c)  Exhibits<br><br>Exhibit No.     Description<br><br>   99.1         Press Release Dated December 15, 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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	December 15, 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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	Exhibit No.
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	Description
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	99.1
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Press Release Dated December 15, 2008
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<TYPE>EX-99.1
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<P align="left" style="font-size: 10pt"><FONT style="font-size: 18pt"><B>AVATAR</B>
</FONT>

<P align="left" style="font-size: 18pt"><FONT style="font-size: 12pt"><B>FOR IMMEDIATE RELEASE</B>
</FONT>

<P align="left" style="font-size: 12pt"><B>Contact:</B>
</FONT><BR>
<FONT style="font-size: 11pt">Avatar Holdings Inc.
<BR>
201 Alhambra Circle
<BR>
Coral Gables, Florida 33134
<BR>
Juanita I. Kerrigan
<BR>
(305)&nbsp;442-7000
</FONT>

<P align="left" style="font-size: 11pt"><FONT style="font-size: 12pt"><B>AVATAR&#146;S BOARD AMENDS AUTHORIZATION TO REPURCHASE SECURITIES</B>
</FONT>

<P align="left" style="font-size: 12pt; text-indent: 4%">Coral Gables, FL, December&nbsp;15, 2008 <FONT style="font-family: Symbol">&#045;</FONT> Avatar Holdings Inc. (NASDAQ &#151; AVTR) announced
that its Board of Directors, at its meeting of December&nbsp;12, amended its June&nbsp;2005 authorization to
repurchase its 4.50% Convertible Senior Notes and shares of its Common Stock. The Company may
expend up to approximately $30&nbsp;million, including the approximate $1.9&nbsp;million previous
authorization, to effect purchases from time to time in the open market, through privately
negotiated transactions or otherwise, depending on market and business conditions and other
factors.


<P align="left" style="font-size: 12pt; text-indent: 4%">As of the close of business on December&nbsp;12, 2008, there were 8,550,392 shares of Avatar Common
Stock and $78,880,000 principal amount of 4.50% Notes outstanding.


<P align="left" style="font-size: 12pt; text-indent: 23%"># # # #



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