Question-and-Answer Session
Operator
(Operator Instructions). And your first question comes from the line of Anna Torma of Soleil Securities. Please proceed.
Anna Torma - Soleil Securities
Good morning, Ray, Ken. Your guidance for sawtimber volumes to be sort of flat to down to 9% year-over-year. Do you expect your pulpwood volumes to be under similar pressure or should we be looking for a different delta there?
Ray Dillon
I would say that they would be a down slightly, would be what we've forecast on.
Anna Torma - Soleil Securities
Okay, great, thanks. And then can you comment on whether your pulpwood or sawtimber log pricing looks to be still holding relatively flat coming into January are you seeing some greater slippage?
Ray Dillon
We are continuing to see slippage in both product categories as you see downtime at the pulp and paper mills and our market areas and also as we continue see the lumber price exert pressure on sawtimber prices.
Anna Torma - Soleil Securities
Okay, great, thanks. And then just one more question if I could do you, are you seeing any pressure on reducing your prices for your lots or are you kind of hold to your strategy of keeping pricing steady and waiting for the market to come back to you here? Thanks.
Ray Dillon
We continue to hold our strategy of holding our price levels for the value that the lots weigh and waiting for the markets to return.
Anna Torma - Soleil Securities
Okay great. Thank you very much.
Ray Dillon
Thank you.
Operator
And your next question comes from the line of Robert Holt of Holt Capital Partners. Please proceed.
Robert Holt - Holt Capital Partners
Good morning.
Ray Dillon
Hi, Rob.
Robert Holt - Holt Capital Partners
Your CapEx in the real estate segment was up some, could you give us more details there and what you expect for '09 versus '08 in terms of real estate CapEx?
Ray Dillon
The CapEx was related to real estate purchases in that segment. And that would be the reason for being up. I guess as far as real estate development we plan no new residential development segments for the year 2009. It's hard to predict depending upon what opportunities may present in sales but I would tell you the best forecast I could give you today is that it would be comparable and it likely would be a little less than what it was in the previous years especially since we have no new developments planned.
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