How do you fix this The AVD manager normally uses the user's profile directory to store AVD files However it failed to find the default profile directory?

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The AVD manager normally uses the user’s profile directory to store AVD files. However it failed to find the default profile directory. To fix this, please set the environment variable ANDROID_SDK_HOME to a valid path such as “”.
(Windows 7 and 8 Only… 64-bit version Tested)
Setup PATH
You can skip this step now if you are not familiar with PATH, but it is needed later.
Include the android’s tools directory (<ANDROID_SDK_HOME>\tools) and platform-tools directory (<ANDROID_SDK_HOME>\platform-tools) to your PATH environment variable.
For Windows: Start “Control Panel” ⇒ “System” ⇒ (Vista/7) “Advanced system settings” ⇒ Switch to “Advanced” tab ⇒ “Environment variables” ⇒ Choose “System Variables” for all users (or “User Variables” for this login user only) ⇒ Select variable “PATH” ⇒ Choose “Edit” for modifying an existing variable ⇒ In variable “Value”, APPEND your <ANDROID_SDK_HOME>\tools directory (e.g., “d:\bin\android-sdk\tools“), followed by a semi-colon ';', IN FRONT of all the existing path entries. DO NOT remove any existing entry; otherwise, some programs may not run.
Add the platform-tools directory to the PATH too.
Check your user variables. If you don’t, find A variable named ANDROID_SDK_HOME with the Value, click new. In the Variable Name box, type in “ANDROID_SDK_HOME” (Without quotes). In the Variable Value, type in something like “c:/Users/jorge/AppData/Local/Android/Android-sdk” (without quotes).
Click OK. Then click OK. Click OK again.
Close the Control Panel and restart your computer. Try Running SDK or AVD Manager(s) again.