<SUBMISSION>
<ACCESSION-NUMBER>0001299933-10-001906
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20100510
<ITEMS>2.02
<ITEMS>7.01
<ITEMS>9.01
<FILING-DATE>20100511
<DATE-OF-FILING-DATE-CHANGE>20100511
<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>10820287
</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_37557.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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<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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	May 10, 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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	&nbsp;
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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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	&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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On May 10, 2010, Avatar Holdings Inc. issued a press release announcing its results for the quarter ended March 31, 2010.  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.
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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 May 10, 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>
	May 11, 2010
</I>
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	&nbsp;
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<I>
	By:
</I>
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	&nbsp;
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<I>
	Juanita I. Kerrigan
</I>
<BR>
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	&nbsp;
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	&nbsp;
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	&nbsp;
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	&nbsp;
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	&nbsp;
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	&nbsp;
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	&nbsp;
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	&nbsp;
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<I>
	Name: Juanita I. Kerrigan
</I>
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	&nbsp;
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<I>
	Title: Vice President and Secretary
</I>
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	Exhibit&nbsp;Index
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	Exhibit No.
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	Description
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	99.1
</DIV>
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<FONT SIZE="2">
	&nbsp;
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<TD ALIGN="LEFT" VALIGN="TOP" WIDTH="77%">
<FONT SIZE="2">
Press Release dated May 10, 2010
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit1.htm
<DESCRIPTION>EX-99.1
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<TITLE> EX-99.1 </TITLE>
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<BODY style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="font-size: 10pt"><FONT style="font-size: 24pt"><B>AVATAR</B>
</FONT>

<P align="left" style="font-size: 24pt"><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="left" style="font-size: 10pt; text-indent: 5%"><FONT style="font-size: 12pt"><B>AVATAR REPORTS FIRST QUARTER RESULTS OF OPERATIONS</B>
</FONT>

<P align="left" style="font-size: 12pt; text-indent: 4%">Coral Gables, FL &#150; May&nbsp;10, 2010 &#150; Avatar Holdings Inc. (NASDAQ-AVTR) today reported a net loss
of $10,136,000 ($0.90 per share, diluted) on revenues of $9,623,000 for the quarter ended March&nbsp;31,
2010, compared to a net loss of $8,594,000 ($0.99 per share, diluted) on revenues of $15,347,000
for the quarter ended March&nbsp;31, 2009.


<P align="left" style="font-size: 12pt; text-indent: 4%">During the quarter, we closed on 28 homes, a 17.6% decrease from the 34 units closed during
the first quarter of 2009. Dollar volume decreased by 29.7% to $5,451,000, compared to $7,755,000
for the first quarter of 2009.


<P align="left" style="font-size: 12pt; text-indent: 4%">The dollar volume of housing contracts signed, net of cancellations, during the first quarter
of 2010 increased by 17.6% compared to the first quarter of 2009, or $12,154,000 compared to
$10,338,000. The number of contracts signed, net of cancellations, increased by 5.3%, or 60
compared to 57 for the first quarter of 2009.


<P align="left" style="font-size: 12pt; text-indent: 4%">For the quarter ended March&nbsp;31, 2010, we did not have sales of commercial, industrial and
other land. For the quarter ended March&nbsp;31, 2009, results included pre-tax income of $1,778,000 on
revenues of $1,825,000 from commercial, industrial and other land sales.


<P align="center" style="font-size: 12pt"><FONT style="font-size: 9pt"># # #</FONT>



<P align="left" style="font-size: 9pt; text-indent: 4%">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.


<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
<!-- PAGEBREAK -->




<P align="center" style="font-size: 9pt"><FONT style="font-size: 12pt"><U><B>SELECTED FINANCIAL DATA FOR THE THREE MONTHS ENDED </B></U><BR>
<U><B>MARCH 31, 2010 AND 2009</B></U></FONT><BR>
<FONT style="font-size: 11pt">(<I>Unaudited &#150; Dollars in thousands except per share data</I>)</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="68%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="5%">&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="3" style="border-bottom: 1px solid #000000"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>2009</B></TD>
</TR>

<!-- End Table Head -->
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<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">$</TD>
    <TD align="right">9,623</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">15,347</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Income loss before income taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">($10,269</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">($9,424</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Income tax benefit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">830</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Net loss attributable to non-controlling</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">($133</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Interests</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Net loss attributable to Avatar</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">($10,136</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">($8,594</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">&nbsp;</TD>
    <TD align="right">($0.90</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">($0.99</TD>
    <TD nowrap>)</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>
<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="66%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&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">March 31, 2010</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">December 31, 2009</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">$</TD>
    <TD align="right">213,233</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">217,132</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">$</TD>
    <TD align="right">586,438</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">594,719</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 11.5pt">
    <TD><DIV style="margin-left:10px; text-indent:-10px">Notes, mortgage notes and other debt</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">119,322</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">119,002</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</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">434,246</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">444,101</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">$</TD>
    <TD align="right">38.24</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">39.11</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



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