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<SEC-DOCUMENT>0001299933-10-001095.txt : 20100316
<SEC-HEADER>0001299933-10-001095.hdr.sgml : 20100316
<ACCEPTANCE-DATETIME>20100316165513
ACCESSION NUMBER:		0001299933-10-001095
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100316
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100316
DATE AS OF CHANGE:		20100316

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AVATAR HOLDINGS INC
		CENTRAL INDEX KEY:			0000039677
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATIVE BUILDERS [1531]
		IRS NUMBER:				231739078
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07395
		FILM NUMBER:		10686130

	BUSINESS ADDRESS:	
		STREET 1:		201 ALHAMBRA CIRCLE
		CITY:			CORAL GABLES
		STATE:			FL
		ZIP:			33134
		BUSINESS PHONE:		3054427000

	MAIL ADDRESS:	
		STREET 1:		201 ALHAMBRA CIRCLE
		CITY:			CORAL GABLES
		STATE:			FL
		ZIP:			33134

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GAC CORP /DE/
		DATE OF NAME CHANGE:	19801023

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GENERAL ACCEPTANCE CORP
		DATE OF NAME CHANGE:	19710208
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>htm_36762.htm
<DESCRIPTION>LIVE FILING
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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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<BR>
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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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	March 16, 2010
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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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	23-1739078
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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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	&nbsp;
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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>
	(Zip Code)
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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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<FONT SIZE="2">
	&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>
</P>
<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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<B>
	Item 2.02 Results of Operations and Financial Condition.
</B>
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<P ALIGN="LEFT">
<FONT SIZE="2">
On March 16, 2010, Avatar Holdings Inc. issued a press release announcing its results for the fiscal year ended December 31, 2009.  A copy of the 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.
</B>
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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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(d)  Exhibits<br><br>     99.1             Press Release dated March 16, 2010.
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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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<B>
	SIGNATURES
</B>
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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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<I>
	March 16, 2010
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	&nbsp;
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<I>
	By:
</I>
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<TD>
<FONT SIZE="2">
	&nbsp;
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<I>
	Juanita I. Kerrigan
</I>
<BR>
</FONT>
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	&nbsp;
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<I>
	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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	99.1
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	&nbsp;
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Press Release dated March 16, 2010
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<BODY style="font-family: 'Times New Roman',Times,serif">


<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>
<BR>
Avatar Holdings Inc.
<BR>
201 Alhambra Circle
<BR>
Coral Gables, FL 33134
<BR>
Juanita I. Kerrigan
<BR>
(305)&nbsp;442-7000
</FONT>

<P align="center" style="font-size: 10pt"><FONT style="font-size: 12pt"><B>AVATAR REPORTS 2009 RESULTS</B></FONT>



<P align="left" style="font-size: 12pt; text-indent: 4%">Coral Gables, FL &#151; March&nbsp;16, 2010 &#151; Avatar Holdings Inc. (NASDAQ-AVTR) today reported a net
loss for 2009 of $28,983,000 ($3.11 per share, diluted) on revenues of $73,501,000 compared with a
net loss for 2008 of $109,876,000 ($12.85 per share, diluted) on revenues of $110,366,000.


<P align="left" style="font-size: 12pt; text-indent: 4%">For the year ended December&nbsp;31, 2009, Avatar reported a pre-tax loss of $61,843,000, of which
$21,847,000 is impairment charges, $4,657,000 is a loss on fourth quarter land sales, and
$35,339,000 is a loss from operations.


<P align="left" style="font-size: 12pt; text-indent: 4%">During the year ended December&nbsp;31, 2009, we closed on 230 homes, a 6.9% decrease from the 247
homes closed during the year ended December&nbsp;31, 2008. Dollar volume decreased by 32.1% to
$44,827,000, compared to $66,060,000 for the year ended December&nbsp;31, 2008.


<P align="left" style="font-size: 12pt; text-indent: 4%">The number of housing contracts signed, net of cancellations, for the year ended December&nbsp;31,
2009 increased by 27.6% to 199, compared to 156 for the year ended December&nbsp;31, 2008. The dollar
volume of contracts signed declined by 7.5% compared to the year ended December&nbsp;31, 2008, to
$34,218,000, compared to $37,008,000.


<P align="left" style="font-size: 12pt; text-indent: 4%">The number of units in backlog was 25 at December&nbsp;31, 2009, compared to 56 at December&nbsp;31,
2008. The aggregate dollar volume of our backlog at December&nbsp;31, 2009 was $5,469,000, compared to
$16,079,000 at December&nbsp;31, 2008.


<P align="left" style="font-size: 12pt; text-indent: 4%">Avatar&#146;s assets at December&nbsp;31, 2009 totaled $594,719,000, of which $217,132,000 was cash,
compared to $594,812,000 at December&nbsp;31, 2008, of which $175,396,000 was cash. Total debt as of
December&nbsp;31, 2009 was $119,002,000, compared to $131,061,000 as of December&nbsp;31, 2008.
Stockholders&#146; equity at December&nbsp;31, 2009 was $445,119,000, compared to $429,511,000 at December
31, 2008.


<P align="left" style="font-size: 12pt; text-indent: 4%">At December&nbsp;31, 2009, there were 11,355,451 shares of Avatar Common Stock outstanding with a
book value of $39.20 per share.


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



<P align="left" style="font-size: 12pt; text-indent: 4%"><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, Seasons at Tradition in Port St. Lucie, Florida and at Rio Rico,
south of Tucson, AZ. Avatar&#146;s common shares trade on The Nasdaq Stock Market under the symbol AVTR.
</FONT>

<P align="left" style="font-size: 9pt; text-indent: 4%">Certain statements discussed herein or made by the Company 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: the stability of certain financial markets; disruption of the credit markets and reduced
availability and more stringent financing requirements for commercial and residential mortgages of
all types; the number of investor and speculator resale homes for sale and homes in foreclosure in
our communities and in the geographic areas in which we develop and sell homes; the increased level
of unemployment; the decline in net worth and/or of income of potential buyers; the decline in
consumer confidence; the failure to successfully implement our business strategy; shifts in
demographic trends affecting demand for active adult and primary housing; the level of immigration
and migration into the areas in which we conduct real estate activities; our access to financing;
construction defect and home warranty claims; 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 under the caption &#147;Risk Factors&#148; included in its
Annual Report on Form 10-K for the year ended December&nbsp;31, 2009. At least 80% of 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: 10pt; display: none">1
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<P align="center" style="font-size: 9pt"><FONT style="font-size: 12pt"><B>AVATAR HOLDINGS INC. AND SUBSIDIARIES</B><BR>
<U>Selected financial data for the years ended December&nbsp;31, 2009 and 2008</U></FONT><BR>
<FONT style="font-size: 11pt">(<I>Dollars in thousands except per share data</I>)</FONT>



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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>2008</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">$</TD>
    <TD align="right">73,501</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">110,366</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Loss before income taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(61,843</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(142,341</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Income tax benefit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32,860</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">32,465</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Net loss</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(28,983</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(109,876</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Basic and Diluted EPS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(3.11</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(12.85</TD>
    <TD nowrap>)</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">$</TD>
    <TD align="right">594,719</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">594,812</TD>
    <TD>&nbsp;</TD>
</TR>
<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">$</TD>
    <TD align="right">217,132</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">175,396</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">$</TD>
    <TD align="right">445,119</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">429,511</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Stockholders&#146; equity per share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">39.20</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">48.64</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
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