Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Valentine Vilia
 2. Date of Event Requiring Statement (Month/Day/Year)
11/08/2010		 3. Issuer Name and Ticker or Trading Symbol
MDC HOLDINGS INC [MDC]
(Last)
(First)
(Middle)
4350 S. MONACO ST., SUITE 500		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
CAO, VP - Finance, Controller
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

DENVER, CO 80237		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock $.01 Par Value (1) 2,028
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Statutory Stock Option (right to buy) (2) 02/22/2011 02/22/2020 Common Stock $.01 Par Value 6,500 $ 34.51 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Valentine Vilia
4350 S. MONACO ST.
SUITE 500
DENVER, CO 80237		       CAO, VP - Finance, Controller  

Signatures

Vilia Valentine 11/15/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Shares of restricted stock granted February 22, 2010 for no cash consideration pursuant to the Comapny's 2001 Equity Incentive Plan and a Restricted Stock Agreement. Pursuant to the Restricted Stock Agreement, the restrictions will lapse as to 25% of the shares on February 22, 2011, and cumulatively as to an additional 25% on each of February 22, 2012, 2013 and 2014.
(2) Granted on February 22, 2010 under the Company's 2001 Equity Incentive Plan. This option vests as to 25% of the shares covered thereby on February 22, 2011, and cumulatively as to an additional 25% on each of February 22, 2012, 2013 and 2014. This option was granted at the February 22, 2010 market close price.
 
Remarks:
As a result of the departure of the issuer's principal financial officer, Ms. Valentine has temporarily assumed some responsibilities that could be deemed to subject her to the reporting requirements of Section 16.  At such time as she no longer has such responsibilities she may cease being a reporting person under Section 16.

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