Question-and-Answer Session
Operator
Thank you. (Operator instructions) Our first question comes from David Toti from Lehman Brothers. Please go ahead.
David Toti - Lehmann Brothers
Hi everybody. I just wanted to ask, assuming that you make some progress on your capital plans, reducing your leverage, increasing liquidity, at what point do you foresee an increased appetite in resuming an acquisition strategy?
Dean Jernigan
Good morning David. It is interesting times out there as far as the acquisition market is concerned. There is still no bargain as far as I am concerned. We would hope to maintain our posture and wait for bargains to come our way. The properties owned by the small entrepreneurs today who would typically be sellers are performing very well. And so a compelling reason, I guess there are two that I always talk about. One is their financing coming to an end and secondly, if we do have a move in capital gains rate that could have some opportunity for us. But still no great bargains out there. I think we are really moving more into a development cycle so we do not anticipate big ramp ups but we would take advantage of an opportunity if we saw it.
David Toti - Lehmann Brothers
I have a question with regard to your revenue growth. Would you say that is largely driven by your pushing on prices through internal systems or do you think it is more demand driven at this point?
Christopher P. Marr
I really think it is a nice balance. We are clearly chipping away, as Dean mentioned, at the occupancy and increasing our ability to convert customers to renters by the enhancements of our website. We are seeing more and more find us through the web, reserve units online and then ultimately rent.
We are seeing the marketing efforts we have had in place and continue to put in place paying off. We are also using systems to price more intelligently with better data and to pass along rate increases to the existing tenants in a very systematic way. So I think it is actually a very nice blend of both of those items.
David Toti - Lehmann Brothers
Okay. Thank you.
Operator
Our next question comes from Christine Kim from Deutsche Bank.
Christeen Kim – Deutsche Bank
Hey, good morning. Chris on the dispositions, the ones that had been in advance contract and then fell out. Could you provide a little bit more color in terms of what happened there?
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