Nobility Homes (NOBH) 10-K 27 Jan 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Nov. 05, 2016	Jan. 27, 2017	Apr. 29, 2016
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Nov. 5, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Trading Symbol	NOBH
Entity Registrant Name	NOBILITY HOMES INC
Entity Central Index Key	72,205
Current Fiscal Year End Date	--11-05
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		4,004,840
Entity Public Float			$ 13,498,680

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Nov. 05, 2016	Oct. 31, 2015
Current assets:
Cash and cash equivalents	$ 24,562,638	$ 16,769,292
Short-term investments	481,025	462,578
Accounts receivable-trade	2,641,763	2,937,922
Note receivable	500,000
Mortgage notes receivable	9,717	9,851
Income tax receivable		335
Inventories	6,969,081	6,019,705
Pre-owned homes, net	1,295,694	1,366,974
Property held for sale	213,437
Prepaid expenses and other current assets	638,939	826,180
Deferred income taxes	556,773	655,193
Total current assets	37,869,067	29,048,030
Property, plant and equipment, net	4,063,711	3,964,878
Pre-owned homes, net	1,733,610	2,724,190
Interest receivable	48,376
Note receivable, less current portion	2,030,000
Mortgage notes receivable, less current portion	174,270	177,644
Other investments	1,367,496	2,243,729
Property held for sale	386,018
Deferred income taxes		1,210,630
Cash surrender value of life insurance	3,085,916	2,915,469
Other assets	156,287	156,287
Total assets	50,914,751	42,440,857
Current liabilities:
Accounts payable	835,279	704,467
Accrued compensation	682,815	390,573
Accrued expenses and other current liabilities	1,123,698	926,204
Income taxes payable	759,128
Customer deposits	1,706,795	1,323,861
Total current liabilities	5,107,715	3,345,105
Deferred income taxes	1,140,529
Total liabilities	6,248,244	3,345,105
Commitments and contingent liabilities
Stockholders' equity:
Preferred stock, $.10 par value, 500,000 shares authorized; none issued and outstanding
Common stock, $.10 par value, 10,000,000 shares authorized; 5,364,907 shares issued	536,491	536,491
Additional paid in capital	10,663,348	10,650,723
Retained earnings	43,458,271	37,493,077
Accumulated other comprehensive income	266,171	247,724
Less treasury stock at cost, 1,361,300 shares in 2016 and 1,333,338 shares in 2015	(10,257,774)	(9,832,263)
Total stockholders' equity	44,666,507	39,095,752
Total liabilities and stockholders' equity	$ 50,914,751	$ 42,440,857

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Nov. 05, 2016	Oct. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.10	$ 0.10
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.10	$ 0.10
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	5,364,907	5,364,907
Treasury stock, shares	1,361,300	1,333,338

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Nov. 05, 2016	Oct. 31, 2015
Income Statement [Abstract]
Net sales	$ 34,053,290	$ 27,836,804
Cost of goods sold	(26,117,155)	(21,701,429)
Gross profit	7,936,135	6,135,375
Selling, general and administrative expenses	(3,782,336)	(3,193,923)
Operating income	4,153,799	2,941,452
Other income (loss):
Interest income	112,802	59,985
Undistributed earnings in joint venture-Majestic 21	123,772	138,469
Proceeds received under escrow arrangement	788,566
Losses from investments in retirement community limited partnerships		(146,403)
Gain on sale of investment in retirement community, net	3,990,000
Miscellaneous	15,297	57,698
Total other income	5,030,437	109,749
Income before provision for income taxes	9,184,236	3,051,201
Income tax expense	(3,219,042)	(135,806)
Net income	5,965,194	2,915,395
Other comprehensive income (loss)
Unrealized investment gain (loss)	18,447	(33,866)
Comprehensive income	$ 5,983,641	$ 2,881,529
Weighed average number of shares outstanding:
Basic	4,021,019	4,052,865
Diluted	4,022,083	4,053,362
Net income per share:
Basic	$ 1.48	$ 0.72
Diluted	$ 1.48	$ 0.72

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Treasury Stock [Member]
Beginning balance at Nov. 01, 2014	$ 36,549,960	$ 536,491	$ 10,643,866	$ 34,577,682	$ 281,590	$ (9,489,669)
Beginning balance, shares at Nov. 01, 2014		4,063,869
Purchase of treasury stock	$ (360,844)					(360,844)
Purchase of treasury stock, shares	(34,800)	(34,800)
Stock-based compensation	$ 9,287		9,287
Unrealized investment (loss) gain	(33,866)				(33,866)
Exercise of employee stock options	$ 15,820		(2,430)			18,250
Exercise of employee stock options, shares	2,000	2,500
Net income	$ 2,915,395			2,915,395
Ending balance at Oct. 31, 2015	39,095,752	$ 536,491	10,650,723	37,493,077	247,724	(9,832,263)
Ending balance, shares at Oct. 31, 2015		4,031,569
Purchase of treasury stock	$ (458,276)					(458,276)
Purchase of treasury stock, shares	(32,375)	(32,375)
Stock-based compensation	$ 6,530	$ 413	3,470			3,060
Unrealized investment (loss) gain	18,447				18,447
Exercise of employee stock options	$ 38,860		9,155			29,705
Exercise of employee stock options, shares	4,000	4,000
Net income	$ 5,965,194			5,965,194
Ending balance at Nov. 05, 2016	$ 44,666,507	$ 536,491	$ 10,663,348	$ 43,458,271	$ 266,171	$ (10,257,774)
Ending balance, shares at Nov. 05, 2016		4,003,607

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Nov. 05, 2016	Oct. 31, 2015
Cash flows from operating activities:
Net income	$ 5,965,194	$ 2,915,395
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	98,616	110,169
Deferred income taxes	2,449,579	130,177
Undistributed earnings in joint venture - Majestic 21	(123,772)	(138,469)
Losses from investments in retirement community limited partnerships		146,403
Gain on sale of investment in retirement community, net	(3,990,000)
Loss on disposal of property, plant and equipment	32,098
Inventory impairment	271,583	75,000
Stock-based compensation	6,530	9,287
Decrease (increase) in:
Accounts receivable - trade	296,159	(796,454)
Inventories	(949,376)	(503,165)
Pre-owned homes	790,277	384,039
Income tax receivable	335	5,629
Prepaid expenses and other current assets	187,241	(539,190)
Interest receivable	(48,376)
Increase in:
Accounts payable	130,812	202,208
Accrued compensation	292,242	70,071
Accrued expenses and other current liabilities	197,494	399,908
Income taxes payable	759,128
Customer deposits	382,934	294,773
Net cash provided by operating activities	6,748,698	2,765,781
Cash flows from investing activities:
Purchase of property, plant and equipment	(829,002)	(117,976)
Distributions from joint venture - Majestic 21	1,000,005	500,000
Proceeds from sale of investment in retirement community, net	960,000
Collections on note receivable	500,000
Collections on mortgage notes receivable	3,508	431
Increase in cash surrender value of life insurance	(170,447)	(150,332)
Net cash provided by investing activities	1,464,064	232,123
Cash flows from financing activities:
Proceeds from exercise of employee stock options	38,860	15,820
Purchase of treasury stock	(458,276)	(360,844)
Net cash (used in) financing activities	(419,416)	(345,024)
Increase in cash and cash equivalents	7,793,346	2,652,880
Cash and cash equivalents at beginning of year	16,769,292	14,116,412
Cash and cash equivalents at end of year	24,562,638	$ 16,769,292
Supplemental disclosure of cash flows information:
Income taxes paid	10,000
Note receivable acquired from sale of investment in retirement community	$ 3,030,000

Reporting Entity and Significan

Reporting Entity and Significant Accounting Policies	12 Months Ended
	Nov. 05, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reporting Entity and Significant Accounting Policies	NOTE 1 Reporting Entity and Significant Accounting Policies Description of Business and Principles of Consolidation – All intercompany accounts and transactions have been eliminated in consolidation. The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP). Use of Estimates – pre-owned Fiscal Year – fifty-two Revenue Recognition – • Its receipt of a down payment, • Construction of the home is complete, • Home has been delivered and set up at the retail home buyer’s site, and title has been transferred to the retail home buyer, • Remaining funds have been released by the finance company (financed sales transaction), remaining funds have been committed by the finance company by an agreement with respect to financing obtained by the customer, usually in the form of a written approval for permanent home financing received from a lending institution, (financed construction sales transaction) or cash has been received from the home buyer (cash sales transaction), and • Completion of any other significant obligations. The Company recognizes revenue from the sale of the repurchased homes upon transfer of title to the new purchaser. The Company recognizes revenues from its independent dealers upon receiving wholesale floor plan financing or establishing retail credit approval for terms, shipping of the home, and transferring title and risk of loss to the independent dealer. For wholesale shipments to independent dealers, the Company has no obligation to setup the home or to complete any other significant obligations. The Company recognizes revenues from its wholly-owned subsidiary, Mountain Financial, Inc., as follows: commission income (and fees in lieu of commissions) is recorded as of the effective date of insurance coverage or the billing date, whichever is later. Commissions on premiums billed and collected directly by insurance companies are recorded as revenue when received which, in many cases, is the Company’s first notification of amounts earned due to the lack of policy and renewal information. Contingent commissions are recorded as revenue when received. Contingent commissions are commissions paid by insurance underwriters and are based on the estimated profit and/or overall volume of business placed with the underwriter. The data necessary for the calculation of contingent commissions cannot be reasonably obtained prior to the receipt of the commission which, in many cases, is the Company’s first notification of amounts earned. The Company provides appropriate reserves for policy cancellations based on numerous factors, including past transaction history with customers, historical experience, and other information, which is periodically evaluated and adjusted as deemed necessary. In the opinion of management, no reserve was deemed necessary for policy cancellations at November 5, 2016 or October 31, 2015. Revenues by Products and Services pre-owned 2016 2015 Manufactured housing $ 32,189,695 $ 25,904,715 Pre-owned 1,628,336 1,721,072 Insurance agent commissions 235,259 211,017 Total net sales $ 34,053,290 $ 27,836,804 Cash and Cash Equivalents – Accounts Receivable – Accounts receivable fluctuates due to the number of homes sold to independent dealers. The Company recognizes revenues from its independent dealers upon receiving wholesale floor plan financing or establishing retail credit approval for terms, shipping of the home, and transferring title and risk of loss to the independent dealer. Investments – “available-for-sale” available-for-sale The Company continually reviews its investments to determine whether a decline in fair value below the cost basis is other than temporary. If the decline in fair value is judged to be other than temporary, the cost basis of the security is written down to fair value and the amount of the write-down is included in the accompanying consolidated statements of income and other comprehensive income. Inventories – The Company acquired certain repossessed pre-owned st Other pre-owned st st st st st st Pre-owned trade-ins (Trade-in Trade-in Other inventory costs are determined on a first-in, first-out See Note 6 for further discussion of inventories. Property, Plant and Equipment – Investment in Majestic 21 – st st The Company entered into an arrangement in 2002 with 21 st pre-owned st See Note 15 for discussion of the Company’s guarantee of a $5 million note payable of Majestic 21. Other Investments - On March 31, 2016, the Company sold its 48.5% limited partnership interest in CRF III, Ltd. (“Cypress Creek”) for $3,990,000. Cypress Creek is a retirement manufactured home community located in Winter Haven, Florida. The Company received $960,000 cash, net of $40,000 cost paid and a note receivable for $3,030,000, plus interest at 3.0%, which is payable to the Company in $500,000 installments each July 1 st st See further discussion of these investments in Note 5. Impairment of Long-Lived Assets – Customer Deposits – Company Owned Life Insurance Warranty Costs – 2016 2015 Beginning accrued warranty expense $ 100,000 $ 75,000 Less: reduction for payments (476,039 ) (326,988 ) Plus: additions to accrual 501,039 351,988 Ending accrued warranty expense $ 125,000 $ 100,000 The Company’s limited warranty covers substantial defects in material or workmanship in specified components of the home including structural elements, plumbing systems, electrical systems, and heating and cooling systems which are supplied by the Company that may occur under normal use and service during a period of twelve (12) months from the date of delivery to the original homeowner, and applies to the original homeowner or any subsequent homeowner to whom this product is transferred during the duration of this twelve (12) month period. The Company tracks the warranty claims per home. Based on the history of the warranty claims, the Company has determined that a majority of warranty claims usually occur within the first three months after the home is sold. The Company determines its warranty accrual using the last three months of home sales. Accrued warranty costs are included in accrued expenses in the accompanying consolidated balance sheets. Accrued Home Setup Costs hook-ups, Stock-Based Compensation – Rebate Program – Advertising – Income Taxes – Net Income per Share – Shipping and Handling Costs – Comprehensive Income – available-for-sale Segments – Major Customers – Concentration of Credit Risk – Concentration of Retail Financing Sources – Recently Issued Accounting Pronouncements – No. 2016-02, 2016-02). 2016-02 2016-02 right-of-use In November 2015, the FASB issued ASU No. 2015-17 2015-17). 2015-17 2015-17 In July 2015, the FASB issued ASU No. 2015-11, last-in, first-out first-in, first-out In May 2014, the FASB issued ASU No. 2014-09,

Investments

Investments	12 Months Ended
	Nov. 05, 2016
Investments, Debt and Equity Securities [Abstract]
Investments	NOTE 2 Investments The following is a summary of short-term investments (available for sale): November 5, 2016 Amortized Cost Gross Gross Estimated Fair Equity securities in a public company $ 167,930 $ 313,095 $ — $ 481,025 October 31, 2015 Amortized Cost Gross Gross Estimated Fair Equity securities in a public company $ 167,930 $ 294,648 $ — $ 462,578 The fair values were estimated based on unadjusted quoted prices at each respective period end.

Fair Values of Financial Invest

Fair Values of Financial Investments	12 Months Ended
	Nov. 05, 2016
Fair Value Disclosures [Abstract]
Fair Values of Financial Investments	NOTE 3 Fair Values of Financial Investments The carrying amount of cash and cash equivalents, accounts and notes receivable, accounts payable and accrued expenses approximates fair value because of the short maturity of those instruments. The Company accounts for the fair value of financial investments in accordance with FASB ASC No. 820, “Fair Value Measurements” (ASC 820). ASC 820 defines fair value as the price that would be received upon the sale of an asset or paid to transfer a liability (i.e. exit price) in an orderly transaction between market participants at the measurement date. ASC 820 requires disclosures that categorize assets and liabilities measured at fair value into one of three different levels depending on the assumptions (i.e. inputs) used in the valuation. Financial assets and liabilities are classified in their entirety based on the lowest level of input significant to the fair value measurement. The ASC 820 fair value hierarchy is defined as follows: • Level 1—Valuations are based on unadjusted quoted prices in active markets for identical assets or liabilities. • Level 2—Valuations are based on quoted prices for similar assets or liabilities in active markets, or quoted prices in markets that are not active for which significant inputs are observable, either directly or indirectly. • Level 3—Valuations are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect management’s best estimate of what market participants would use in valuing the asset or liability at the measurement date. The following table represents the Company’s financial assets and liabilities which are carried at fair value at November 5, 2016 and October 31, 2015. November 5, 2016 Level 1 Level 2 Level 3 Equity securities in a public company $ 481,025 $ — $ — October 31, 2015 Level 1 Level 2 Level 3 Equity securities in a public company $ 462,578 $ — $ —

Related Party Transactions

Related Party Transactions	12 Months Ended
	Nov. 05, 2016
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 4 Related Party Transactions Affiliated Entities TLT, Inc. – Walden Woods –

Other Investments

Other Investments	12 Months Ended
	Nov. 05, 2016
Text Block [Abstract]
Other Investments	NOTE 5 Other Investments Investment in Joint Venture – Majestic 21 – While Majestic 21 has been deemed to be a variable interest entity, the Company only holds a 50% interest in this entity and all allocations of profit and loss are on a 50/50 basis. Since all allocations are to be made on a 50/50 basis and the Company’s maximum exposure is limited to its investment in Majestic 21, management has concluded that the Company would not absorb a majority of Majestic 21’s expected losses nor receive a majority of Majestic 21’s expected residual returns; therefore, the Company is not required to consolidate Majestic 21 with the accounts of Nobility Homes in accordance with ASC 810. See Note 15 for discussion of the Company’s guarantee of a $5 million note payable of Majestic 21. The following is summarized financial information of the Company’s joint venture: November 5, 2016 October 31, 2015 Total Assets $ 11,207,304 $ 14,499,423 Total Liabilities $ 8,972,312 $ 10,511,965 Total Equity $ 2,234,992 $ 3,987,458 Net Income $ 247,545 $ 276,945 Distributions received from the joint venture amounted to approximately $1,000,000 and $500,000 for fiscal year 2016 and 2015 respectively. With regard to our investment in Majestic 21, there are no differences between our investment balance and the amount of underlying equity in net assets owned by Majestic 21. Investment in Retirement Community Limited Partnerships – On March 31, 2016, the Company sold its 48.5% limited partnership interest in CRF III, Ltd. (“Cypress Creek”) for $3,990,000. Cypress Creek is a retirement manufactured home community located in Winter Haven, Florida. The Company received $960,000 cash, net of $40,000 cost paid and a note receivable for $3,030,000, plus interest at 3.0%, which is payable to the Company in $500,000 installments each July 1 st st The investment in Walden Woods and Cypress Creek are accounted for under the equity method of accounting and all allocations of profit and loss are on pro-rata The following is summarized financial information of Walden Woods as of September 30, 2016 and Walden Woods and Cypress Creek as of September 30, 2015*: September 30,2016 September 30, 2015 Total Assets $ 3,747,081 $ 13,273,488 Total Liabilities $ 5,902,402 $ 17,101,517 Total Deficit $ (2,155,321 ) $ (3,828,029 ) * Due to Walden Woods, and Cypress Creek having a calendar year-end, The Company has no obligation to fund future operating losses of Walden Woods and accordingly, has not reduced the investment carrying value to less than zero.

Inventories

Inventories	12 Months Ended
	Nov. 05, 2016
Inventory Disclosure [Abstract]
Inventories	NOTE 6 Inventories The Company acquired a significant amount of repossessed pre-owned A breakdown of the elements of inventory at November 5, 2016 and October 31, 2015 is as follows: November 5, 2016 October 31, 2015 Raw materials $ 717,525 $ 721,751 Work-in-process 120,693 113,891 Finished homes 6,025,268 5,114,568 Model home furniture 105,595 69,495 Inventories $ 6,969,081 $ 6,019,705 Pre-owned $ 4,014,119 $ 5,516,272 Inventory impairment reserve ** (984,815 ) (1,425,108 ) 3,029,304 4,091,164 Less homes expected to sell in 12 months (1,295,694 ) (1,366,974 ) Pre-owned $ 1,733,610 $ 2,724,190 * The following table summarizes a breakdown of pre-owned Buy Back Repossessions Trade-Ins Total Balance at November 1, 2014 $ 5,173,960 $ 1,137,968 $ 10,555 $ 6,322,483 Additions 429,109 436,478 66,610 932,197 Sales (1,287,831 ) (416,337 ) (34,240 ) (1,738,408 ) Balance at October 31, 2015 4,315,238 1,158,109 42,925 5,516,272 Additions — 350,735 56,486 407,221 Sales (1,745,955 ) (106,453 ) (56,966 ) (1,909,374 ) Balance at November 5, 2016 $ 2,569,283 $ 1,402,391 $ 42,445 $ 4,014,119 ** An analysis of the pre-owned November 5, 2016 October 31, 2015 Balance at beginning of year $ 1,425,108 $ 1,772,280 Less: Reductions for homes sold (568,797 ) (258,001 ) Inventory holding costs (143,079 ) (141,468 ) Additions to impairment reserve 271,583 52,297 Balance at end of year $ 984,815 $ 1,425,108

Property Held for Sale

Property Held for Sale	12 Months Ended
	Nov. 05, 2016
Discontinued Operations and Disposal Groups [Abstract]
Property Held for Sale	NOTE 7 Property Held for Sale The Company has offered for sale its former sales center in Pace, Florida and its former manufacturing facility in Belleview, Florida. Accordingly, these assets have been reclassified from property, plant and equipment as property held for sale in the accompanying balance sheet as of November 5, 2016. The Company as determined the fair value of its property held for sale exceeds its carrying value and no valuation allowance is necessary. The cost of the Pace property was reclassified as a current asset in the accompanying balance sheet as the property is under contract for sale at November 5, 2016.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Nov. 05, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	NOTE 8 Property, Plant and Equipment Property, plant and equipment, along with their estimated useful lives and related accumulated depreciation are summarized as follows: Range of Lives in Years November 5, 2016 October 31, 2015 Land — $ 2,870,463 $ 2,349,383 Land improvements 10-20 689,043 839,912 Buildings and improvements 15-40 2,019,429 2,813,761 Machinery and equipment 3-10 749,360 1,180,377 Furniture and fixtures 3-10 223,537 437,432 6,551,832 7,620,865 Less accumulated depreciation (2,488,121 ) (3,655,987 ) $ 4,063,711 $ 3,964,878 Depreciation expense during the years ended November 5, 2016 and October 31, 2015 totaled $98,616 and $110,169, respectively.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	12 Months Ended
	Nov. 05, 2016
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	NOTE 9 Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities are comprised of the following: November 5, 2016 October 31, 2015 Accrued warranty expense $ 125,000 $ 100,000 Accrued property and sales taxes 299,710 261,289 Other accrued expenses 698,988 564,915 Total accrued expenses and other current liabilities $ 1,123,698 $ 926,204

Proceeds Received Under Escrow

Proceeds Received Under Escrow Arrangement	12 Months Ended
	Nov. 05, 2016
Text Block [Abstract]
Proceeds Received Under Escrow Arrangement	NOTE 10 Proceeds Received Under Escrow Arrangement In April 2016, the Company received $788,566 under an escrow arrangement related to a Finance Revenue Sharing Agreement between 21 st st

Income Taxes

Income Taxes	12 Months Ended
	Nov. 05, 2016
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 11 Income Taxes The Company computes income tax expense using the liability method. Under this method, deferred income taxes are provided, to the extent considered realizable by management, for basis differences of assets and liabilities for financial reporting and income tax purposes. The Company follows guidance issued by the FASB with respect to accounting for uncertainty in income taxes. A tax position is recognized as a benefit only if it is “more-likely-than-not” “more-likely-than-not” The Company and its subsidiaries are subject to U.S. federal income tax, as well as income tax of the state of Florida. The Company’s income tax returns for the past three years are subject to examination by tax authorities, and may change upon examination. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. The Company did not reflect any amounts for interest and penalties in its 2016 or 2015 statements of operations, nor are any amounts accrued for interest and penalties at November 5, 2016 and October 31, 2015. The provision for income taxes for the years ended consists of the following: November 5, 2016 October 31, 2015 Current tax expense: Federal $ 769,463 $ 5,629 State — — 769,463 5,629 Deferred tax expense 2,449,579 1,105,489 Valuation allowance — (975,312 ) Income tax expense $ 3,219,042 $ 135,806 The following table shows the reconciliation between the statutory federal income tax rate and the actual provision for income taxes for the years ended: November 5, 2016 October 31, 2015 Provision—federal statutory tax rate $ 3,122,640 $ 1,037,408 Increase (decrease) resulting from: State taxes, net of federal tax benefit 253,435 110,759 Permanent differences: Stock option expirations — 6,045 Manufacturing and other deductions (74,544 ) — Other (82,489 ) (43,094 ) Changes in DTA valuation allowance — (975,312 ) Income tax expense $ 3,219,042 $ 135,806 The types of temporary differences between the tax bases of assets and liabilities and their financial reporting amounts and the related deferred tax assets and deferred tax liabilities are as follows: November 5, 2016 October 31, 2015 Deferred tax assets: Allowance for doubtful accounts $ 87,261 $ 87,261 Inventories 440,988 651,980 Carrying value of other investments 6,313 1,186,668 Accrued expenses 156,260 75,141 Stock-based compensation 4,717 8,971 Total deferred tax assets 695,539 2,010,021 Deferred tax liabilities: Depreciation (38,050 ) (37,982 ) Installment sales of Cypress Creek (871,277 ) — Carrying value of investments (302,147 ) — State income tax refunds — (29,598 ) Amortization (58,810 ) (58,810 ) Prepaid expenses (9,011 ) (17,808 ) Net deferred tax assets (liabilities) $ (583,756 ) $ 1,865,823 These amounts are included in the accompanying consolidated balance sheets under the following captions: November 5, 2016 October 31, 2015 Current assets: Deferred tax assets $ 684,509 $ 814,381 Deferred tax liabilities (127,736 ) (159,188 ) Net current deferred taxes 556,773 655,193 Non-current Deferred tax assets 11,030 1,307,422 Deferred tax liabilities (1,151,559 ) (96,792 ) Net non-current (1,140,529 ) 1,210,630 Net deferred tax asset (liability) $ (583,756 ) $ 1,865,823 In assessing the ability to realize a portion of the deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. For fiscal years 2016 and 2015, the Company determined that a valuation reserve for the Company’s deferred tax assets was not considered necessary as the deferred tax assets were fully realizable.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Nov. 05, 2016
Equity [Abstract]
Stockholders' Equity	NOTE 12 Stockholders’ Equity Authorized preferred stock may be issued in series with rights and preferences designated by the Board of Directors at the time it authorizes the issuance of such stock. The Company has never issued any preferred stock. Treasury stock is recorded at cost and is presented as a reduction of stockholders’ equity in the accompanying consolidated financial statements. The Company repurchased 32,375 and 34,800 shares of its common stock during fiscal years 2016 and 2015, respectively.

Stock Option Plan

Stock Option Plan	12 Months Ended
	Nov. 05, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Option Plan	NOTE 13 Stock Option Plan In June 2011, the Company’s Board of Directors adopted and the Company’s shareholders later approved, the Nobility Homes, Inc. 2011 Stock Incentive Plan (the “Plan”), providing for the issuance of options to purchase shares of common stock, stock appreciation rights and other stock-based awards to employees and non-employee As of November 5, 2016, the Company has 1,000 stock options outstanding that were granted pursuant to individual award agreements outside of the 2011 Plan. The Company does not expect to award additional stock options outside of the 2011 Plan in the future. The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The cost is to be recognized over the period during which an employee is required to provide service in exchange for the award (usually the vesting period). The grant date fair value of employee share options and similar instruments will be estimated using option-pricing models adjusted for the unique characteristics of those instruments (unless observable market prices for the same or similar instruments are available). If an equity award is modified after the grant date, incremental compensation cost will be recognized in an amount equal to the excess of the fair value of the modified award over the fair value of the original award immediately before the modification. During fiscal years 2016 and 2015, the Company recognized approximately $1,500 and $9,000 in compensation cost related to stock options respectively. A summary of information with respect to options granted is as follows: Number of Stock Option Price Weighted Aggregate Outstanding at November 1, 2014 7,000 $ 7.91 - 10.45 $ 9.02 Granted — — — Exercised (2,000 ) 7.91 7.91 Canceled — — — Outstanding at October 31, 2015 5,000 $ 8.49 - 10.45 $ 9.47 Granted 5,000 12.10 12.10 Exercised (4,000 ) 8.49 - 10.45 9.72 Canceled — — — Outstanding at November 5, 2016 6,000 $ 8.49 - 12.10 $ 11.50 $ 24,010 The aggregate intrinsic value in the table above represents total intrinsic value (of options in the money), which is the difference between the Company’s closing stock price on the last trading day of fiscal year 2016 and the exercise price times the number of shares, that would have been received by the option holders had the option holders exercised their options on November 5, 2016. The following table summarizes information about the outstanding stock options at November 5, 2016: Options Outstanding Options Exercisable Exercise Shares Weighted Weighted Number Weighted $ 8.49 1,000 — $ 8.49 1,000 $ 8.49 $ 12.10 5,000 5 $ 12.10 — $ 12.10 6,000 4 $ 11.50 1,000 $ 8.49 The fair value of each option is determined using the Black-Scholes option-pricing model which values options based on the stock price at the grant date, the expected life of the option, the estimated volatility of the stock, expected dividend payments, and the risk-free interest rate over the expected life of the option. The dividend yield was calculated by dividing the current annualized dividend by the option exercise price for each grant. The expected volatility was determined considering the Company’s historical stock prices for the fiscal year the grant occurred and prior fiscal years for a period equal to the expected life of the option. The risk-free interest rate was the rate available on zero coupon U.S. government obligations with a term equal to the expected life of the option. The expected life of the option was estimated based on the exercise history from previous grants.

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Nov. 05, 2016
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plan	NOTE 14 Employee Benefit Plan The Company has a defined contribution retirement plan (the “Plan”) qualifying under Section 401(k) of the Internal Revenue Code. The Plan covers employees who have met certain service requirements. The Company makes a discretionary matching contribution of up to 20% of an employee’s contribution, up to a maximum of 6% of an employee’s compensation. The contribution expense charged to operations in fiscal years 2016 and 2015 was $20,000.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	12 Months Ended
	Nov. 05, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	NOTE 15 Commitments and Contingent Liabilities Operating Leases – Future minimum payments by year and in the aggregate, under the aforementioned leases and other non-cancelable 2017 $ 20,009 Majestic 21 st st On November 5, 2016 there was approximately $210,314 in loan loss reserves or 1.77% of the portfolio in Majestic 21. The Majestic 21 joint venture partnership is monitoring loan loss reserves on a monthly basis and is adjusting the loan loss reserves as necessary. The Majestic 21 joint venture is reflected on 21st Mortgage Corporation’s financial statements which are included in the financial statements of its ultimate parent which is a public company. Management believes the loan loss reserves are adequate based upon its review of the Majestic 21 joint venture partnership’s financial statements. Other Contingent Liabilities – The Company does not maintain casualty insurance on some of its property, including the inventory at our retail centers, our plant machinery and plant equipment and is at risk for those types of losses.

Reporting Entity and Signific22

Reporting Entity and Significant Accounting Policies (Policies)	12 Months Ended
	Nov. 05, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Principles of Consolidation	Description of Business and Principles of Consolidation – All intercompany accounts and transactions have been eliminated in consolidation. The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP).
Use of Estimates	Use of Estimates – pre-owned
Fiscal Year	Fiscal Year – fifty-two
Revenue Recognition	Revenue Recognition – • Its receipt of a down payment, • Construction of the home is complete, • Home has been delivered and set up at the retail home buyer’s site, and title has been transferred to the retail home buyer, • Remaining funds have been released by the finance company (financed sales transaction), remaining funds have been committed by the finance company by an agreement with respect to financing obtained by the customer, usually in the form of a written approval for permanent home financing received from a lending institution, (financed construction sales transaction) or cash has been received from the home buyer (cash sales transaction), and • Completion of any other significant obligations. The Company recognizes revenue from the sale of the repurchased homes upon transfer of title to the new purchaser. The Company recognizes revenues from its independent dealers upon receiving wholesale floor plan financing or establishing retail credit approval for terms, shipping of the home, and transferring title and risk of loss to the independent dealer. For wholesale shipments to independent dealers, the Company has no obligation to setup the home or to complete any other significant obligations. The Company recognizes revenues from its wholly-owned subsidiary, Mountain Financial, Inc., as follows: commission income (and fees in lieu of commissions) is recorded as of the effective date of insurance coverage or the billing date, whichever is later. Commissions on premiums billed and collected directly by insurance companies are recorded as revenue when received which, in many cases, is the Company’s first notification of amounts earned due to the lack of policy and renewal information. Contingent commissions are recorded as revenue when received. Contingent commissions are commissions paid by insurance underwriters and are based on the estimated profit and/or overall volume of business placed with the underwriter. The data necessary for the calculation of contingent commissions cannot be reasonably obtained prior to the receipt of the commission which, in many cases, is the Company’s first notification of amounts earned. The Company provides appropriate reserves for policy cancellations based on numerous factors, including past transaction history with customers, historical experience, and other information, which is periodically evaluated and adjusted as deemed necessary. In the opinion of management, no reserve was deemed necessary for policy cancellations at November 5, 2016 or October 31, 2015.
Revenues by Products and Services	Revenues by Products and Services pre-owned 2016 2015 Manufactured housing $ 32,189,695 $ 25,904,715 Pre-owned 1,628,336 1,721,072 Insurance agent commissions 235,259 211,017 Total net sales $ 34,053,290 $ 27,836,804
Cash and Cash Equivalents	Cash and Cash Equivalents –
Accounts Receivable	Accounts Receivable – Accounts receivable fluctuates due to the number of homes sold to independent dealers. The Company recognizes revenues from its independent dealers upon receiving wholesale floor plan financing or establishing retail credit approval for terms, shipping of the home, and transferring title and risk of loss to the independent dealer.
Investments	Investments – “available-for-sale” available-for-sale The Company continually reviews its investments to determine whether a decline in fair value below the cost basis is other than temporary. If the decline in fair value is judged to be other than temporary, the cost basis of the security is written down to fair value and the amount of the write-down is included in the accompanying consolidated statements of income and other comprehensive income.
Inventories	Inventories – The Company acquired certain repossessed pre-owned st Other pre-owned st st st st st st Pre-owned trade-ins (Trade-in Trade-in Other inventory costs are determined on a first-in, first-out
Property, Plant and Equipment	Property, Plant and Equipment –
Investment in Majestic 21	Investment in Majestic 21 – st st The Company entered into an arrangement in 2002 with 21 st pre-owned st See Note 15 for discussion of the Company’s guarantee of a $5 million note payable of Majestic 21.
Other Investments	Other Investments - On March 31, 2016, the Company sold its 48.5% limited partnership interest in CRF III, Ltd. (“Cypress Creek”) for $3,990,000. Cypress Creek is a retirement manufactured home community located in Winter Haven, Florida. The Company received $960,000 cash, net of $40,000 cost paid and a note receivable for $3,030,000, plus interest at 3.0%, which is payable to the Company in $500,000 installments each July 1 st st See further discussion of these investments in Note 5.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets –
Customer Deposits	Customer Deposits –
Company Owned Life Insurance	Company Owned Life Insurance
Warranty Costs	Warranty Costs – 2016 2015 Beginning accrued warranty expense $ 100,000 $ 75,000 Less: reduction for payments (476,039 ) (326,988 ) Plus: additions to accrual 501,039 351,988 Ending accrued warranty expense $ 125,000 $ 100,000 The Company’s limited warranty covers substantial defects in material or workmanship in specified components of the home including structural elements, plumbing systems, electrical systems, and heating and cooling systems which are supplied by the Company that may occur under normal use and service during a period of twelve (12) months from the date of delivery to the original homeowner, and applies to the original homeowner or any subsequent homeowner to whom this product is transferred during the duration of this twelve (12) month period. The Company tracks the warranty claims per home. Based on the history of the warranty claims, the Company has determined that a majority of warranty claims usually occur within the first three months after the home is sold. The Company determines its warranty accrual using the last three months of home sales. Accrued warranty costs are included in accrued expenses in the accompanying consolidated balance sheets.
Accrued Home Setup Costs	Accrued Home Setup Costs hook-ups,
Stock-Based Compensation	Stock-Based Compensation –
Rebate Program	Rebate Program –
Advertising	Advertising –
Income Taxes	Income Taxes –
Net Income per Share	Net Income per Share –
Shipping and Handling Costs	Shipping and Handling Costs –
Comprehensive Income	Comprehensive Income – available-for-sale
Segments	Segments –
Major Customers	Major Customers –
Concentration of Credit Risk	Concentration of Credit Risk –
Concentration of Retail Financing Sources	Concentration of Retail Financing Sources –
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements – No. 2016-02, 2016-02). 2016-02 2016-02 right-of-use In November 2015, the FASB issued ASU No. 2015-17 2015-17). 2015-17 2015-17 In July 2015, the FASB issued ASU No. 2015-11, last-in, first-out first-in, first-out In May 2014, the FASB issued ASU No. 2014-09,
Fair Value Measurements	The Company accounts for the fair value of financial investments in accordance with FASB ASC No. 820, “Fair Value Measurements” (ASC 820). ASC 820 defines fair value as the price that would be received upon the sale of an asset or paid to transfer a liability (i.e. exit price) in an orderly transaction between market participants at the measurement date. ASC 820 requires disclosures that categorize assets and liabilities measured at fair value into one of three different levels depending on the assumptions (i.e. inputs) used in the valuation. Financial assets and liabilities are classified in their entirety based on the lowest level of input significant to the fair value measurement. The ASC 820 fair value hierarchy is defined as follows: • Level 1—Valuations are based on unadjusted quoted prices in active markets for identical assets or liabilities. • Level 2—Valuations are based on quoted prices for similar assets or liabilities in active markets, or quoted prices in markets that are not active for which significant inputs are observable, either directly or indirectly. • Level 3—Valuations are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect management’s best estimate of what market participants would use in valuing the asset or liability at the measurement date.

Reporting Entity and Signific23

Reporting Entity and Significant Accounting Policies (Tables)	12 Months Ended
	Nov. 05, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenues by Products and Services	Revenues by Products and Services pre-owned 2016 2015 Manufactured housing $ 32,189,695 $ 25,904,715 Pre-owned 1,628,336 1,721,072 Insurance agent commissions 235,259 211,017 Total net sales $ 34,053,290 $ 27,836,804
Summary of Amounts Related to Limited Warranty	Amounts related to these warranties for fiscal years 2016 and 2015 are as follows: 2016 2015 Beginning accrued warranty expense $ 100,000 $ 75,000 Less: reduction for payments (476,039 ) (326,988 ) Plus: additions to accrual 501,039 351,988 Ending accrued warranty expense $ 125,000 $ 100,000

Investments (Tables)

Investments (Tables)	12 Months Ended
	Nov. 05, 2016
Investments, Debt and Equity Securities [Abstract]
Summary of Short-term Investments	The following is a summary of short-term investments (available for sale): November 5, 2016 Amortized Cost Gross Gross Estimated Fair Equity securities in a public company $ 167,930 $ 313,095 $ — $ 481,025 October 31, 2015 Amortized Cost Gross Gross Estimated Fair Equity securities in a public company $ 167,930 $ 294,648 $ — $ 462,578

Fair Values of Financial Inve25

Fair Values of Financial Investments (Tables)	12 Months Ended
	Nov. 05, 2016
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value	The following table represents the Company’s financial assets and liabilities which are carried at fair value at November 5, 2016 and October 31, 2015. November 5, 2016 Level 1 Level 2 Level 3 Equity securities in a public company $ 481,025 $ — $ — October 31, 2015 Level 1 Level 2 Level 3 Equity securities in a public company $ 462,578 $ — $ —

Other Investments (Tables)

Other Investments (Tables)	12 Months Ended
	Nov. 05, 2016
Majestic 21 [Member]
Summarized Financial Information of Company's Other Investments	The following is summarized financial information of the Company’s joint venture: November 5, 2016 October 31, 2015 Total Assets $ 11,207,304 $ 14,499,423 Total Liabilities $ 8,972,312 $ 10,511,965 Total Equity $ 2,234,992 $ 3,987,458 Net Income $ 247,545 $ 276,945
Walden Woods and Cypress Creek [Member]
Summarized Financial Information of Company's Other Investments	The following is summarized financial information of Walden Woods as of September 30, 2016 and Walden Woods and Cypress Creek as of September 30, 2015*: September 30,2016 September 30, 2015 Total Assets $ 3,747,081 $ 13,273,488 Total Liabilities $ 5,902,402 $ 17,101,517 Total Deficit $ (2,155,321 ) $ (3,828,029 ) * Due to Walden Woods, and Cypress Creek having a calendar year-end,

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Nov. 05, 2016
Inventory Disclosure [Abstract]
Summary of Breakdown of Elements of Inventory	A breakdown of the elements of inventory at November 5, 2016 and October 31, 2015 is as follows: November 5, 2016 October 31, 2015 Raw materials $ 717,525 $ 721,751 Work-in-process 120,693 113,891 Finished homes 6,025,268 5,114,568 Model home furniture 105,595 69,495 Inventories $ 6,969,081 $ 6,019,705 Pre-owned $ 4,014,119 $ 5,516,272 Inventory impairment reserve ** (984,815 ) (1,425,108 ) 3,029,304 4,091,164 Less homes expected to sell in 12 months (1,295,694 ) (1,366,974 ) Pre-owned $ 1,733,610 $ 2,724,190 * The following table summarizes a breakdown of pre-owned Buy Back Repossessions Trade-Ins Total Balance at November 1, 2014 $ 5,173,960 $ 1,137,968 $ 10,555 $ 6,322,483 Additions 429,109 436,478 66,610 932,197 Sales (1,287,831 ) (416,337 ) (34,240 ) (1,738,408 ) Balance at October 31, 2015 4,315,238 1,158,109 42,925 5,516,272 Additions — 350,735 56,486 407,221 Sales (1,745,955 ) (106,453 ) (56,966 ) (1,909,374 ) Balance at November 5, 2016 $ 2,569,283 $ 1,402,391 $ 42,445 $ 4,014,119 ** An analysis of the pre-owned November 5, 2016 October 31, 2015 Balance at beginning of year $ 1,425,108 $ 1,772,280 Less: Reductions for homes sold (568,797 ) (258,001 ) Inventory holding costs (143,079 ) (141,468 ) Additions to impairment reserve 271,583 52,297 Balance at end of year $ 984,815 $ 1,425,108

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Nov. 05, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment with Estimated Useful Lives and Related Accumulated Depreciation	Property, plant and equipment, along with their estimated useful lives and related accumulated depreciation are summarized as follows: Range of Lives in Years November 5, 2016 October 31, 2015 Land — $ 2,870,463 $ 2,349,383 Land improvements 10-20 689,043 839,912 Buildings and improvements 15-40 2,019,429 2,813,761 Machinery and equipment 3-10 749,360 1,180,377 Furniture and fixtures 3-10 223,537 437,432 6,551,832 7,620,865 Less accumulated depreciation (2,488,121 ) (3,655,987 ) $ 4,063,711 $ 3,964,878

Accrued Expenses and Other Cu29

Accrued Expenses and Other Current Liabilities (Tables)	12 Months Ended
	Nov. 05, 2016
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities are comprised of the following: November 5, 2016 October 31, 2015 Accrued warranty expense $ 125,000 $ 100,000 Accrued property and sales taxes 299,710 261,289 Other accrued expenses 698,988 564,915 Total accrued expenses and other current liabilities $ 1,123,698 $ 926,204

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Nov. 05, 2016
Income Tax Disclosure [Abstract]
Summary of Provision for Income Taxes	The provision for income taxes for the years ended consists of the following: November 5, 2016 October 31, 2015 Current tax expense: Federal $ 769,463 $ 5,629 State — — 769,463 5,629 Deferred tax expense 2,449,579 1,105,489 Valuation allowance — (975,312 ) Income tax expense $ 3,219,042 $ 135,806
Reconciliation Between Statutory Federal Income Tax Rate and Actual Provision for Income Taxes	The following table shows the reconciliation between the statutory federal income tax rate and the actual provision for income taxes for the years ended: November 5, 2016 October 31, 2015 Provision—federal statutory tax rate $ 3,122,640 $ 1,037,408 Increase (decrease) resulting from: State taxes, net of federal tax benefit 253,435 110,759 Permanent differences: Stock option expirations — 6,045 Manufacturing and other deductions (74,544 ) — Other (82,489 ) (43,094 ) Changes in DTA valuation allowance — (975,312 ) Income tax expense $ 3,219,042 $ 135,806
Deferred Tax Assets and Deferred Tax Liabilities	The types of temporary differences between the tax bases of assets and liabilities and their financial reporting amounts and the related deferred tax assets and deferred tax liabilities are as follows: November 5, 2016 October 31, 2015 Deferred tax assets: Allowance for doubtful accounts $ 87,261 $ 87,261 Inventories 440,988 651,980 Carrying value of other investments 6,313 1,186,668 Accrued expenses 156,260 75,141 Stock-based compensation 4,717 8,971 Total deferred tax assets 695,539 2,010,021 Deferred tax liabilities: Depreciation (38,050 ) (37,982 ) Installment sales of Cypress Creek (871,277 ) — Carrying value of investments (302,147 ) — State income tax refunds — (29,598 ) Amortization (58,810 ) (58,810 ) Prepaid expenses (9,011 ) (17,808 ) Net deferred tax assets (liabilities) $ (583,756 ) $ 1,865,823
Accompanying Deferred Current and Non current Tax Assets and Liabilities in Consolidated Balance Sheet	These amounts are included in the accompanying consolidated balance sheets under the following captions: November 5, 2016 October 31, 2015 Current assets: Deferred tax assets $ 684,509 $ 814,381 Deferred tax liabilities (127,736 ) (159,188 ) Net current deferred taxes 556,773 655,193 Non-current Deferred tax assets 11,030 1,307,422 Deferred tax liabilities (1,151,559 ) (96,792 ) Net non-current (1,140,529 ) 1,210,630 Net deferred tax asset (liability) $ (583,756 ) $ 1,865,823

Stock Option Plan (Tables)

Stock Option Plan (Tables)	12 Months Ended
	Nov. 05, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Options Granted	A summary of information with respect to options granted is as follows: Number of Stock Option Price Weighted Aggregate Outstanding at November 1, 2014 7,000 $ 7.91 - 10.45 $ 9.02 Granted — — — Exercised (2,000 ) 7.91 7.91 Canceled — — — Outstanding at October 31, 2015 5,000 $ 8.49 - 10.45 $ 9.47 Granted 5,000 12.10 12.10 Exercised (4,000 ) 8.49 - 10.45 9.72 Canceled — — — Outstanding at November 5, 2016 6,000 $ 8.49 - 12.10 $ 11.50 $ 24,010
Outstanding Stock Options	The following table summarizes information about the outstanding stock options at November 5, 2016: Options Outstanding Options Exercisable Exercise Shares Weighted Weighted Number Weighted $ 8.49 1,000 — $ 8.49 1,000 $ 8.49 $ 12.10 5,000 5 $ 12.10 — $ 12.10 6,000 4 $ 11.50 1,000 $ 8.49

Commitments and Contingent Li32

Commitments and Contingent Liabilities (Tables)	12 Months Ended
	Nov. 05, 2016
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Payments by Year	Future minimum payments by year and in the aggregate, under the aforementioned leases and other non-cancelable 2017 $ 20,009

Reporting Entity and Signific33

Reporting Entity and Significant Accounting Policies - Additional Information (Detail)	Mar. 31, 2016USD ($)	Jun. 30, 2016USD ($)	Nov. 05, 2016USD ($)RetailerSegmentPlant	Oct. 31, 2015USD ($)
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Number of retail centers | Retailer			10
Guarantee obligations note payable principal amount			$ 5,000,000
Gain (Loss) on sale of interest in partnership unit				$ (146,403)
Down payment by retail customers			$ 500
Percentage of retail contract price			35.00%
Percentage of retail contract price withhold by company			20.00%
Warranty period of homes			12 months
Rebate liability			$ 0	73,647
Advertising expense			$ 211,000	243,000
Number of Segment | Segment			1
Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Accounts receivable due from customers			$ 1,196,813	2,754,599
Real Estate Investment Trust One [Member] | Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Sales from major customers			$ 3,581,320	$ 1,209,705
Percentage of sales from major customers			11.00%	4.00%
Real Estate Investment Trust Two [Member] | Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Sales from major customers			$ 629,345	$ 2,166,625
Percentage of sales from major customers			2.00%	8.00%
Other Real Estate Investment Trust [Member] | Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Sales from major customers			$ 1,416,180	$ 3,120,000
Percentage of sales from major customers			4.00%	11.00%
Majestic 21 [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Variable Interest Entity			50.00%
Impairment charges related to Investment in Majestic 21			$ 0	$ 0
Guarantee obligations note payable principal amount			$ 5,000,000
Percentage of ownership interest			50.00%
Walden Woods South LLC [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership interest			31.30%
CRF III, Ltd [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership interest	48.50%
Proceeds from sale of interest in partnership unit	$ 3,990,000
Basis spread on variable rate	3.00%
Proceeds from sale in installments		$ 500,000	$ 500,000
Gain (Loss) on sale of interest in partnership unit			$ 3,990,000
Sale proceeds in partnership unit description			The Company received $960,000 cash, net of $40,000 cost paid and a note receivable for $3,030,000, plus interest at 3.0%, which is payable to the Company in $500,000 installments each July 1st and January 1st, commencing January 1, 2017 through July 1, 2019.
Cost on sale of partnership interest	$ 40,000
CRF III, Ltd [Member] | Note Receivable [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Proceeds from sale of interest in partnership unit	3,030,000
CRF III, Ltd [Member] | Cash [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Proceeds from sale of interest in partnership unit	$ 960,000
Ocala Fl [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Number of manufacturing plants | Plant			1

Reporting Entity and Signific34

Reporting Entity and Significant Accounting Policies - Revenues by Products and Services (Detail) - USD ($)	12 Months Ended
	Nov. 05, 2016	Oct. 31, 2015
Sales Information [Line Items]
Total net sales	$ 34,053,290	$ 27,836,804
Manufactured Housing [Member]
Sales Information [Line Items]
Total net sales	32,189,695	25,904,715
Pre-Owned Homes [Member]
Sales Information [Line Items]
Total net sales	1,628,336	1,721,072
Insurance Agent Commissions [Member]
Sales Information [Line Items]
Total net sales	$ 235,259	$ 211,017

Reporting Entity and Signific35

Reporting Entity and Significant Accounting Policies - Summary of Amounts Related to Limited Warranty (Detail) - USD ($)	12 Months Ended
	Nov. 05, 2016	Oct. 31, 2015
Accounting Policies [Abstract]
Beginning accrued warranty expense	$ 100,000	$ 75,000
Less: reduction for payments	(476,039)	(326,988)
Plus: additions to accrual	501,039	351,988
Ending accrued warranty expense	$ 125,000	$ 100,000

Investments - Summary of Short-

Investments - Summary of Short-term Investments (Detail) - USD ($)	Nov. 05, 2016	Oct. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Available-for-sale Securities, Amortized Cost	$ 167,930	$ 167,930
Available-for-sale Securities, Gross Unrealized Gains	313,095	294,648
Available-for-sale Securities, Gross Unrealized Losses	0	0
Available-for-sale Securities, Estimated Fair Value	$ 481,025	$ 462,578

Fair Values of Financial Inve37

Fair Values of Financial Investments - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($)	Nov. 05, 2016	Oct. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Equity securities in a public company	$ 481,025	$ 462,578
Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Equity securities in a public company	$ 481,025	$ 462,578

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	Nov. 05, 2016
TLT Incorporation [Member]
Related Party Transaction [Line Items]
Percentage of ownership interest	50.00%
Walden Woods South LLC [Member]
Related Party Transaction [Line Items]
Percentage of ownership interest	31.30%
Walden Woods South LLC [Member] | Majority Shareholder [Member]
Related Party Transaction [Line Items]
Percentage of ownership interest	51.00%
President [Member] | TLT Incorporation [Member] | Minimum Range [Member]
Related Party Transaction [Line Items]
Percentage of ownership interest	24.75%
President [Member] | TLT Incorporation [Member] | Maximum Range [Member]
Related Party Transaction [Line Items]
Percentage of ownership interest	49.50%
Executive Vice President [Member] | TLT Incorporation [Member] | Minimum Range [Member]
Related Party Transaction [Line Items]
Percentage of ownership interest	49.50%
Executive Vice President [Member] | TLT Incorporation [Member] | Maximum Range [Member]
Related Party Transaction [Line Items]
Percentage of ownership interest	57.75%

Other Investments - Additional

Other Investments - Additional Information (Detail)	Mar. 31, 2016USD ($)	Jun. 30, 2016USD ($)	Nov. 05, 2016USD ($)Residential	Oct. 31, 2015USD ($)	Nov. 01, 1997USD ($)
Investment [Line Items]
Guarantee obligations note payable principal amount			$ 5,000,000
Distributions from joint venture - Majestic 21			$ 1,000,005	$ 500,000
Gain (Loss) on sale of interest in partnership unit				$ (146,403)
Majestic 21 [Member]
Investment [Line Items]
Amount invested in joint venture - Majestic 21					$ 250,000
Percentage of ownership interest			50.00%
Variable Interest Entity			50.00%
Profit and loss basis point			50/50 basis
Guarantee obligations note payable principal amount			$ 5,000,000
Walden Woods South LLC [Member]
Investment [Line Items]
Percentage of ownership interest			31.30%
CRF III, Ltd [Member]
Investment [Line Items]
Percentage of ownership interest	48.50%
Proceeds from sale of interest in partnership unit	$ 3,990,000
Basis spread on variable rate	3.00%
Proceeds from sale in installments		$ 500,000	$ 500,000
Gain (Loss) on sale of interest in partnership unit			$ 3,990,000
Sale proceeds in partnership unit description			The Company received $960,000 cash, net of $40,000 cost paid and a note receivable for $3,030,000, plus interest at 3.0%, which is payable to the Company in $500,000 installments each July 1st and January 1st, commencing January 1, 2017 through July 1, 2019.
Cost on sale of partnership interest	$ 40,000
CRF III, Ltd [Member] | Note Receivable [Member]
Investment [Line Items]
Proceeds from sale of interest in partnership unit	3,030,000
CRF III, Ltd [Member] | Cash [Member]
Investment [Line Items]
Proceeds from sale of interest in partnership unit	$ 960,000
Cypress Creek [Member] | Winter Haven, Florida [Member]
Investment [Line Items]
Number of residential lots | Residential			300

Other Investments - Summarized

Other Investments - Summarized Financial Information of Company's Joint Venture (Detail) - Majestic 21 [Member] - USD ($)	12 Months Ended
	Nov. 05, 2016	Oct. 31, 2015
Schedule of Equity Method Investments [Line Items]
Total Assets	$ 11,207,304	$ 14,499,423
Total Liabilities	8,972,312	10,511,965
Total Equity	2,234,992	3,987,458
Net Income	$ 247,545	$ 276,945

Other Investments - Summarize41

Other Investments - Summarized Financial Information of Walden Woods and Cypress Creek (Detail) - Walden Woods and Cypress Creek [Member] - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Schedule of Equity Method Investments [Line Items]
Total Assets	$ 3,747,081	$ 13,273,488
Total Liabilities	5,902,402	17,101,517
Total Deficit	$ (2,155,321)	$ (3,828,029)

Inventories - Summary of Breakd

Inventories - Summary of Breakdown of Elements of Inventory (Detail) - USD ($)	Nov. 05, 2016	Oct. 31, 2015	Nov. 01, 2014
Inventory Disclosure [Abstract]
Raw materials	$ 717,525	$ 721,751
Work-in-process	120,693	113,891
Finished homes	6,025,268	5,114,568
Model home furniture	105,595	69,495
Inventories	6,969,081	6,019,705
Pre-owned homes	4,014,119	5,516,272	$ 6,322,483
Inventory impairment reserve	(984,815)	(1,425,108)	$ (1,772,280)
Pre-owned homes, net	3,029,304	4,091,164
Pre-owned homes, net	3,029,304	4,091,164
Less homes expected to sell in 12 months	(1,295,694)	(1,366,974)
Pre-owned homes, long-term	$ 1,733,610	$ 2,724,190

Inventories - Summary of Brea43

Inventories - Summary of Breakdown of Elements of Inventory (Parenthetical) (Detail) - USD ($)	12 Months Ended
	Nov. 05, 2016	Oct. 31, 2015
Inventory [Line Items]
Beginning Balance	$ 5,516,272	$ 6,322,483
Additions	407,221	932,197
Sales	(1,909,374)	(1,738,408)
Ending Balance	4,014,119	5,516,272
Beginning inventory impairment reserve	1,425,108	1,772,280
Less: Reductions for homes sold	(568,797)	(258,001)
Inventory holding costs	(143,079)	(141,468)
Additions to impairment reserve	271,583	52,297
Ending inventory impairment reserve	984,815	1,425,108
Buy Back [Member]
Inventory [Line Items]
Beginning Balance	4,315,238	5,173,960
Additions		429,109
Sales	(1,745,955)	(1,287,831)
Ending Balance	2,569,283	4,315,238
Repossessions [Member]
Inventory [Line Items]
Beginning Balance	1,158,109	1,137,968
Additions	350,735	436,478
Sales	(106,453)	(416,337)
Ending Balance	1,402,391	1,158,109
Trade-Ins [Member]
Inventory [Line Items]
Beginning Balance	42,925	10,555
Additions	56,486	66,610
Sales	(56,966)	(34,240)
Ending Balance	$ 42,445	$ 42,925

Property, Plant and Equipment -

Property, Plant and Equipment - Property, Plant and Equipment with Estimated Useful Lives and Related Accumulated Depreciation (Detail) - USD ($)	12 Months Ended
	Nov. 05, 2016	Oct. 31, 2015
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 6,551,832	$ 7,620,865
Less accumulated depreciation	(2,488,121)	(3,655,987)
Property plant and equipment, net	4,063,711	3,964,878
Land [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	2,870,463	2,349,383
Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	689,043	839,912
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	2,019,429	2,813,761
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	749,360	1,180,377
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 223,537	$ 437,432
Minimum Range [Member] | Land [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful life
Minimum Range [Member] | Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful life	10 years
Minimum Range [Member] | Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful life	15 years
Minimum Range [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful life	3 years
Minimum Range [Member] | Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful life	3 years
Maximum Range [Member] | Land [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful life
Maximum Range [Member] | Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful life	20 years
Maximum Range [Member] | Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful life	40 years
Maximum Range [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful life	10 years
Maximum Range [Member] | Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful life	10 years

Property Plant and Equipment -

Property Plant and Equipment - Additional Information (Detail) - USD ($)	12 Months Ended
	Nov. 05, 2016	Oct. 31, 2015
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 98,616	$ 110,169

Accrued Expenses and Other Cu46

Accrued Expenses and Other Current Liabilities - Summary of Accrued Expenses and Other Current Liabilities (Detail) - USD ($)	Nov. 05, 2016	Oct. 31, 2015
Payables and Accruals [Abstract]
Accrued warranty expense	$ 125,000	$ 100,000
Accrued property and sales taxes	759,128	261,289
Other accrued expenses	698,988	564,915
Total accrued expenses and other current liabilities	$ 1,123,698	$ 926,204

Proceeds Received Under Escro47

Proceeds Received Under Escrow Arrangement - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Apr. 30, 2016	Nov. 05, 2016
Related Party Transaction [Line Items]
Proceeds received under escrow arrangement		$ 788,566
Majestic 21 [Member]
Related Party Transaction [Line Items]
Proceeds received under escrow arrangement	$ 788,566

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	12 Months Ended
	Nov. 05, 2016USD ($)
Income Tax Disclosure [Abstract]
Percentage of tax benefit	50.00%
Tax benefit	$ 0

Income Taxes - Summary of Provi

Income Taxes - Summary of Provision for Income Taxes (Detail) - USD ($)	12 Months Ended
	Nov. 05, 2016	Oct. 31, 2015
Current tax expense:
Federal	$ 769,463	$ 5,629
State	0	0
Total current tax expense (benefit)	769,463	5,629
Deferred tax expense	2,449,579	1,105,489
Valuation allowance		(975,312)
Income tax expense	$ 3,219,042	$ 135,806

Income Taxes - Reconciliation b

Income Taxes - Reconciliation between Statutory Federal Income Tax Rate and Actual Provision for Income Taxes (Detail) - USD ($)	12 Months Ended
	Nov. 05, 2016	Oct. 31, 2015
Income Tax Disclosure [Abstract]
Provision-federal statutory tax rate	$ 3,122,640	$ 1,037,408
Increase (decrease) resulting from:
State taxes, net of federal tax benefit	253,435	110,759
Permanent differences:
Stock option expirations		6,045
Manufacturing and other deductions	(74,544)
Other	(82,489)	(43,094)
Changes in DTA valuation allowance		(975,312)
Income tax expense	$ 3,219,042	$ 135,806

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Deferred Tax Liabilities (Detail) - USD ($)	Nov. 05, 2016	Oct. 31, 2015
Deferred tax assets:
Allowance for doubtful accounts	$ 87,261	$ 87,261
Inventories	440,988	651,980
Carrying value of other investments	6,313	1,186,668
Accrued expenses	156,260	75,141
Stock-based compensation	4,717	8,971
Total deferred tax assets	695,539	2,010,021
Deferred tax liabilities:
Depreciation	(38,050)	(37,982)
Installment sales of Cypress Creek	(871,277)
Carrying value of investments	(302,147)
State income tax refunds		(29,598)
Amortization	(58,810)	(58,810)
Prepaid expenses	(9,011)	(17,808)
Net deferred tax liability	$ (583,756)
Net deferred tax asset		$ 1,865,823

Income Taxes - Accompanying Def

Income Taxes - Accompanying Deferred Current and Non-current Tax Assets and Liabilities in Consolidated Balance Sheet (Detail) - USD ($)	Nov. 05, 2016	Oct. 31, 2015
Current assets:
Deferred tax assets	$ 684,509	$ 814,381
Deferred tax liabilities	(127,736)	(159,188)
Net current deferred taxes	556,773	655,193
Non-current assets:
Deferred tax assets	11,030	1,307,422
Deferred tax liabilities	(1,151,559)	(96,792)
Net non-current deferred taxes	(1,140,529)	1,210,630
Net deferred tax liability	$ (583,756)
Net deferred tax asset		$ 1,865,823

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - shares	12 Months Ended
	Nov. 05, 2016	Oct. 31, 2015
Equity [Abstract]
Repurchased shares of common stock	32,375	34,800

Stock Option Plan - Additional

Stock Option Plan - Additional Information (Detail) - USD ($)	12 Months Ended
	Nov. 05, 2016	Oct. 31, 2015	Nov. 01, 2014	Jun. 30, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance	295,000			300,000
Options Outstanding, Shares Outstanding	6,000	5,000	7,000
Compensation cost related to stock options	$ 1,500	$ 9,000
Range Two [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding, Shares Outstanding	5,000
Range One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding, Shares Outstanding	1,000

Stock Option Plan - Option Gran

Stock Option Plan - Option Granted (Detail) - USD ($)	12 Months Ended
	Nov. 05, 2016	Oct. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Beginning, Number of Shares	5,000	7,000
Granted, Number of Shares	5,000
Exercised, Number of Shares	(4,000)	(2,000)
Canceled, Number of Shares	0	0
Outstanding Ending, Number of Shares	6,000	5,000
Granted, Stock Option Price Range	$ 12.10
Exercised, Stock Option Price Range		$ 7.91
Canceled, Stock Option Price Range	0	0
Outstanding Beginning, Weighted Average Exercise Price	9.47	9.02
Granted, Weighted Average Exercise Price	12.10
Exercised, Weighted Average Exercise Price	9.72	7.91
Canceled, Weighted Average Exercise Price	0	0
Outstanding Ending, Weighted Average Exercise Price	$ 11.50	9.47
Outstanding Ending, Aggregate Intrinsic Value	$ 24,010
Minimum Range [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Beginning, Stock Option Price Range	$ 8.49	7.91
Exercised, Stock Option Price Range	8.49
Canceled, Stock Option Price Range	0	0
Outstanding Ending, Stock Option Price Range	8.49	8.49
Maximum Range [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Beginning, Stock Option Price Range	10.45	10.45
Exercised, Stock Option Price Range	10.45
Canceled, Stock Option Price Range	0	0
Outstanding Ending, Stock Option Price Range	$ 12.10	$ 10.45

Stock Option Plan - Outstanding

Stock Option Plan - Outstanding Stock Options (Detail) - $ / shares	12 Months Ended
	Nov. 05, 2016	Oct. 31, 2015	Nov. 01, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding, Shares Outstanding	6,000	5,000	7,000
Options Outstanding, Weighted Average Remaining Contractual Life (years)	4 years
Options Outstanding, Weighted Average Exercise Price	$ 11.50
Options Exercisable, Number Exercisable	1,000
Options Exercisable, Weighted Average Exercise Price	$ 8.49
Range One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding, Exercise Price	$ 8.49
Options Outstanding, Shares Outstanding	1,000
Options Outstanding, Weighted Average Remaining Contractual Life (years)	0 years
Options Outstanding, Weighted Average Exercise Price	$ 8.49
Options Exercisable, Number Exercisable	1,000
Options Exercisable, Weighted Average Exercise Price	$ 8.49
Range Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding, Exercise Price	$ 12.10
Options Outstanding, Weighted Average Remaining Contractual Life (years)	5 years
Options Outstanding, Weighted Average Exercise Price	$ 12.10
Options Exercisable, Weighted Average Exercise Price	$ 12.10
Range Two [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding, Shares Outstanding	5,000

Employee Benefit Plan - Additio

Employee Benefit Plan - Additional Information (Detail) - USD ($)	12 Months Ended
	Nov. 05, 2016	Oct. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Maximum employee compensation	6.00%
Contribution expense charged to operations	$ 20,000	$ 20,000
Maximum Range [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of discretionary matching contribution	20.00%

Commitments and Contingent Li58

Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($)	12 Months Ended
	Nov. 05, 2016	Oct. 31, 2015
Commitments And Contingencies [Line Items]
Total rent expenses for operating leases	$ 188,416	$ 189,333
Percentage of joint venture loan guaranteed by company	50.00%
Guarantee obligations note payable principal amount	$ 5,000,000
Guarantee obligations maximum limit of note payable principal amount for maturity	$ 750,000
Guarantee obligations principal balance of pool of loans percentage	80.00%
Percentage of collateral value for pool of loan securing note	100.00%
Guarantee obligations outstanding note payable principal amount	$ 915,373
Collateral value for pool of loan securing note payable by joint venture	1,762,128
Loan loss reserve	$ 210,314
Loan loss reserve as percentage of portfolio	1.77%
Majestic 21 [Member]
Commitments And Contingencies [Line Items]
Guarantee obligations note payable principal amount	$ 5,000,000
Percentage of ownership interest	50.00%
Percentage of outstanding principal balance, Company's maximum exposure	50.00%
Amount of outstanding principal balance, Company's maximum exposure	$ 457,687

Commitments and Contingent Li59

Commitments and Contingent Liabilities - Future Minimum Payments by Year (Detail)	Nov. 05, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,017	$ 20,009