FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Sep. 30, 2012

FAIR VALUE MEASUREMENTS

Schedule providing carrying value and fair value measurement information for nonrecurring fair value measurements

Year ended September 30, 2012:

			Fair Value Measurements Using*:
	Carrying		Quoted		Significant				Total Reduction of
	Amount		Prices in		Other		Significant		Carrying Value
	as of		Active		Observable		Unobservable		for the
	September 30,		Markets		Inputs		Inputs		year ended
	2012		(Level 1)		(Level 2)		(Level 3)		September 30, 2012
Real estate held for sale	$	5,309,000	$	-	$	5,309,000	$	-	$  1,854,000
Investment in joint ventures	$	-	$	-	$	-	$	-	$  1,754,000
Lot acquisition rights – Mauka Lands	$	-	$	-	$	-	$	-	$     488,000

Year ended September 30, 2011:

			Fair Value Measurements Using*:
	Carrying		Quoted		Significant				Total Reduction of
	Amount		Prices in		Other		Significant		Carrying Value
	as of		Active		Observable		Unobservable		for the
	September 30,		Markets		Inputs		Inputs		year ended
	2011		(Level 1)		(Level 2)		(Level 3)		September 30, 2011
Real estate held for sale	$	12,640,000	$	-	$	12,640,000	$	-	$	418,000
Investment in residential parcels	$	2,331,000	$	-	$	2,331,000	$	-	$	689,000
Investment in joint ventures	$	1,754,000	$	-	$	-	$	1,754,000	$	121,000

*The fair values included in the tables above represent only those assets whose carrying values were adjusted to fair value in each respective period.