Nobility Homes (NOBH) 10-K 31 Jan 20 2019 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Nov. 02, 2019	Jan. 31, 2020	May 03, 2019
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Nov. 2, 2019
Entity Registrant Name	NOBILITY HOMES INC
Entity Central Index Key	0000072205
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Trading Symbol	NOBH
Current Fiscal Year End Date	--11-02
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		3,649,670
Entity Public Float			$ 15.6
Entity File Number	000-06506
Entity Incorporation, State or Country Code	FL
Entity Address, Address Line One	3741 S.W. 7th Street
Entity Address, City or Town	Ocala
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	34474
City Area Code	352
Local Phone Number	732-5157
Title of 12(b) Security	Common Stock
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Nov. 02, 2019	Nov. 03, 2018
Current assets:
Cash and cash equivalents	$ 22,533,965	$ 28,364,861
Certificates of deposit	10,153,575	6,034,093
Short-term investments	521,283	537,767
Accounts receivable—trade	1,351,838	1,783,073
Note receivable	83,231	46,444
Mortgage notes receivable	17,896	15,664
Inventories	10,616,778	7,270,550
Pre-owned homes, net	331,103	933,640
Prepaid expenses and other current assets	1,217,762	1,090,152
Total current assets	46,827,431	46,076,244
Property, plant and equipment, net	5,005,644	4,763,566
Pre-owned homes, net	808,128	473,191
Note receivable, less current portion	43,769	46,265
Mortgage notes receivable, less current portion	232,148	236,402
Other investments	1,649,273	1,571,166
Property held for sale		213,437
Deferred income taxes	80,405	40,156
Cash surrender value of life insurance	3,617,974	3,437,974
Other assets	156,287	156,287
Total assets	58,421,059	57,014,688
Current liabilities:
Accounts payable	1,111,216	1,085,095
Accrued compensation	748,626	869,657
Accrued expenses and other current liabilities	2,055,952	1,349,381
Income taxes payable	2,016,132	579,786
Customer deposits	3,022,818	4,064,268
Total current liabilities	8,954,744	7,948,187
Total liabilities	8,954,744	7,948,187
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 3,664,070 and 3,873,731 outstanding, respectively	536,491	536,491
Additional paid in capital	10,687,662	10,670,848
Retained earnings	55,298,750	50,352,546
Accumulated other comprehensive income	389,164	390,407
Less treasury stock at cost, 1,700,837 shares in 2019 and 1,491,176 shares in 2018	(17,445,752)	(12,883,791)
Total stockholders' equity	49,466,315	49,066,501
Total liabilities and stockholders' equity	$ 58,421,059	$ 57,014,688

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Nov. 02, 2019	Nov. 03, 2018
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
Common Stock, shares outstanding	3,664,070	3,873,731
Treasury stock, shares	1,700,837	1,491,176

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)	12 Months Ended
	Nov. 02, 2019	Nov. 03, 2018
Income Statement [Abstract]
Net sales	$ 46,347,931	$ 41,878,186
Cost of goods sold	(32,694,931)	(31,198,159)
Gross profit	13,653,000	10,680,027
Selling, general and administrative expenses	(5,352,319)	(4,957,201)
Operating income	8,300,681	5,722,826
Other income:
Interest income	556,142	362,121
Undistributed earnings in joint venture—Majestic 21	78,107	100,137
Proceeds received under escrow arrangement	379,104	172,911
Gain on sale of investment in retirement community	1,510,000
Gain on sale of assets	880,129	203,512
Miscellaneous	75,366	43,955
Total other income	3,478,848	882,636
Income before provision for income taxes	11,779,529	6,605,462
Income tax expense	(2,969,109)	(1,641,830)
Net income	8,810,420	4,963,632
Other comprehensive loss
Unrealized investment loss,net of tax effect	(1,243)	(21,826)
Comprehensive income	$ 8,809,177	$ 4,941,806
Weighted average number of shares outstanding:
Basic	3,803,400	3,912,188
Diluted	3,804,673	3,914,312
Net income per share:
Basic	$ 2.32	$ 1.27
Diluted	$ 2.32	$ 1.27

Condensed Consolidated Statem_2

Condensed 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]
Balance at Nov. 04, 2017	$ 47,414,297	$ 536,491	$ 10,669,231	$ 46,167,528	$ 412,233	$ (10,371,186)
Balance, shares at Nov. 04, 2017		3,997,569
Cash dividend	(778,614)			(778,614)
Purchase of treasury stock	$ (2,512,605)					(2,512,605)
Purchase of treasury stock, shares	(123,838)	(123,838)
Stock-based compensation	$ 1,617		1,617
Unrealized investment loss, net of tax effect	$ (21,826)				(21,826)
Exercise of employee stock options, shares	0
Net income	$ 4,963,632			4,963,632
Balance at Nov. 03, 2018	49,066,501	$ 536,491	10,670,848	50,352,546	390,407	(12,883,791)
Balance, shares at Nov. 03, 2018		3,873,731
Cash dividend	(3,864,216)			(3,864,216)
Purchase of treasury stock	$ (4,585,861)					(4,585,861)
Purchase of treasury stock, shares	(212,396)	(212,396)
Stock-based compensation	$ 21,004		16,814			4,190
Stock-based compensation, shares		485
Unrealized investment loss, net of tax effect	(1,243)				(1,243)
Exercise of employee stock options	$ 19,710					19,710
Exercise of employee stock options, shares	2,250	2,250
Net income	$ 8,810,420			8,810,420
Balance at Nov. 02, 2019	$ 49,466,315	$ 536,491	$ 10,687,662	$ 55,298,750	$ 389,164	$ (17,445,752)
Balance, shares at Nov. 02, 2019		3,664,070

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Nov. 02, 2019	Nov. 03, 2018
Cash flows from operating activities:
Net income	$ 8,810,420	$ 4,963,632
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	163,077	148,204
Deferred income taxes	(25,008)	(437,540)
Undistributed earnings in joint venture—Majestic 21	(78,107)	(100,137)
Gain on sale of investment in retirement community	(1,510,000)
Gain on property held for sale	(880,129)	(203,512)
Gain on disposal of property, plant and equipment	(15,242)
Inventory impairment		105,000
Stock-based compensation	21,004	1,617
Decrease (increase) in:
Accounts receivable - trade	431,235	1,151,227
Inventories	(3,346,228)	235,131
Pre-owned homes	267,600	445,390
Prepaid expenses and other current assets	(127,610)	(269,928)
Interest receivable	(73,517)	(34,093)
(Decrease) increase in:
Accounts payable	26,121	235,313
Accrued compensation	(121,031)	244,668
Accrued expenses and other current liabilities	706,572	221,984
Income taxes payable	1,436,346	319,370
Customer deposits	(1,041,450)	1,267,441
Net cash provided by operating activities	4,659,295	8,293,767
Cash flows from investing activities:
Purchase of property, plant and equipment	(447,413)	(606,999)
Purchase of certificates of deposit	(4,080,058)	(6,000,000)
Proceeds from property held for resale	1,078,324	589,530
Proceeds from sale of investment in retirement community	1,510,000
Collections on note receivable		1,530,000
Collections on interest receivable	34,093	101,301
Collections on mortgage notes receivable	2,022	1,726
Collections on equipment and other notes receivable	62,977	36,828
Issuance of equipment and other notes receivable	(39,768)	(25,451)
Increase in cash surrender value of life insurance	(180,001)	(175,126)
Net cash used in investing activities	(2,059,824)	(4,548,191)
Cash flows from financing activities:
Payment of cash dividend	(3,864,216)	(778,614)
Proceeds from exercise of employee stock options	19,710
Purchase of treasury stock	(4,585,861)	(2,512,605)
Net cash used in financing activities	(8,430,367)	(3,291,219)
(Decrease) increase in cash and cash equivalents	(5,830,896)	454,357
Cash and cash equivalents at beginning of year	28,364,861	27,910,504
Cash and cash equivalents at end of year	22,533,965	28,364,861
Supplemental disclosure of cash flow information:
Income taxes paid	$ 1,550,000	$ 1,760,000

Reporting Entity and Significan

Reporting Entity and Significant Accounting Policies	12 Months Ended
	Nov. 02, 2019
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 Reclassification - 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 2, 2019 or November 3, 2018. Sales of homes to affiliated entities that are subject to contingent payment terms are considered inventory consignment arrangements. Revenue from such arrangements is recognized when the homes are sold to the end users and payment is collected by the affiliated entity. See Note 4 “Related Party Transactions”. Revenues by Products and Services pre-owned 2019 2018 Manufactured housing $ 45,583,022 $ 40,708,950 Pre-owned 492,543 895,489 Insurance agent commissions 272,366 273,747 Total net sales $ 46,347,931 $ 41,878,186 Cash and Cash Equivalents – Certificates of Deposit Accounts Receivable – Accounts receivable fluctuate 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 Inventory held at consignment locations by affiliated entities is included in the Company’s inventory on the Company’s consolidated balance sheets. Consigned inventory was $1,540,949 and $1,140,982 as of November 2, 2019 and November 3, 2018, respectively. Pre-owned trade-ins (Trade-in Trade-in Other inventory costs are determined on a first-in, first-out See Note 6 “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 “Commitments and Contingent Liabilities”. Other Investments - to certain related parties and existing owners, including the Company’s Executive Vice President, who purchased the majority of the 31.3% interest. The transaction value was based on a 3rd party appraisal, and the Company received $1,510,000 in cash. The Company’s investment historically was accounted for under the equity method, which was suspended when the carrying amount was reduced to $nil due to continued losses. See Note 4 “Related Party Transactions”. Impairment of Long-Lived Assets – Customer Deposits – Company Owned Life Insurance Warranty Costs – 2019 2018 Beginning accrued warranty expense $ 125,000 $ 125,000 Less: reduction for payments (413,734 ) (392,479 ) Plus: additions to accrual 413,734 392,479 Ending accrued warranty expense $ 125,000 $ 125,000 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 – 51 48 Concentration of Credit Risk – Concentration of Retail Financing Sources – Recently Issued or Adopted Accounting Pronouncements – No. 2015-17 2015-17). 2015-17 2015-17 In February 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-02, 2016-02). 2016-02 2016-02 right-of-use 2016-02 right-of-use In January 2016, the FASB issued ASU No. 2016-01, 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, 2014-09), The core principal of ASU 2014-09 1. Identify the contract(s) with a customer; 2. Identify each performance obligation in the contract; 3. Determine the transaction price; 4. Allocate the transaction price to each performance obligation; and 5. Recognize revenue when or as each performance obligation is satisfied. The Company’s revenue comes substantially from the sale of manufactured housing, modular housing and park models, along with freight billed to customers, parts sold and aftermarket services. The impact of Company's initial 2014-09 did not have a material impact on its consolidated fina nc ial statements and .

Investments

Investments	12 Months Ended
	Nov. 02, 2019
Investments, Debt and Equity Securities [Abstract]
Investments	NOTE 2 Investments The following is a summary of short-term investments (available for sale): November 2, 2019 Amortized Cost Gross Gross Estimated Fair Equity securities in a public company $ 167,930 $ 353,353 $ — $ 521,283 November 3, 2018 Amortized Cost Gross Gross Estimated Fair Equity securities in a public company $ 167,930 $ 369,837 $ — $ 537,767 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. 02, 2019
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 2 2019 3 2018 November 2, 2019 Level 1 Level 2 Level 3 Equity securities in a public company $ 521,283 $ — $ — November 3, 2018 Level 1 Level 2 Level 3 Equity securities in a public company $ 537,767 $ — $ —

Related Party Transactions

Related Party Transactions	12 Months Ended
	Nov. 02, 2019
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 4 Related Party Transactions Affiliated Entities TLT, Inc. – Walden Woods South Repurchase of Common Stock

Other Investments

Other Investments	12 Months Ended
	Nov. 02, 2019
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 “Commitments and Contingent Liabilities”. We received no distributions from the joint venture in fiscal year 2019 or 2018. 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 – to certain related parties and existing owners, including the Company’s Executive Vice President, who purchased the majority of the 31.3% interest. The transaction value was based on a 3rd party appraisal, and the Company received $1,510,000 in cash. The Company’s investment historically was accounted for under the equity method, which was suspended when the carrying amount was reduced to $nil due to continued losses.

Inventories

Inventories	12 Months Ended
	Nov. 02, 2019
Inventory Disclosure [Abstract]
Inventories	NOTE 6 Inventories The Company acquired a significant amount of repossessed pre-owned pre-owned Pre-owned trade-ins (Trade-Ins). A breakdown of the elements of inventory at November 2, 2019 and November 3, 2018 is as follows: November 2, 2019 November 3, 2018 Raw materials $ 941,206 $ 904,399 Work-in-process 125,371 113,220 Inventory consigned to affiliated entities 1,540,949 1,140,982 Finished homes 7,888,879 4,998,004 Model home furniture 120,372 113,946 Inventories $ 10,616,778 $ 7,270,550 Pre-owned $ 1,311,626 $ 1,956,265 Inventory impairment reserve ** (172,395 ) (549,434 ) 1,139,231 1,406,831 Less homes expected to sell in 12 months (331,103 ) (933,640 ) Pre-owned $ 808,128 $ 473,191 * The following table summarizes a breakdown of pre-owned Buy Back Repossessions Trade-Ins Total Balance at November 4, 2017 1,412,902 1,263,927 60,117 2,736,946 Additions — 498,831 95,428 594,259 Sales (697,154 ) (607,115 ) (70,671 ) (1,374,940 ) Balance at November 3, 2018 715,748 1,155,643 84,874 1,956,265 Additions — 253,600 18,860 272,460 Sales (573,353 ) (316,496 ) (27,250 ) (917,099 ) Balance at November 2, 2019 $ 142,395 $ 1,092,747 $ 76,484 $ 1,311,626 ** An analysis of the pre-owned November 2, 2019 November 3, 2018 Balance at beginning of year $ 549,434 $ 779,725 Less: Reductions for homes sold (207,180 ) (253,314 ) Inventory holding costs (36,232 ) (81,977 ) Additions (reduction) to impairment reserve (133,627 ) 105,000 Balance at end of year $ 172,395 $ 549,434

Property Held for Sale

Property Held for Sale	12 Months Ended
	Nov. 02, 2019
Discontinued Operations and Disposal Groups [Abstract]
Property Held for Sale	NOTE 7 Property Held for Sale On June 28, 2019 the Company sold its former Pace retail sales center property located in Pace, Florida for total net proceeds of $1,078,325 and was included on the balance sheet in property held for sale (non-current In April 2018, Nobility sold its Belleview facility that had been vacant since June 2015 for $635,000.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Nov. 02, 2019
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 2, 2019 November 3, 2018 Land — $ 3,092,463 $ 3,092,463 Land improvements 10-20 908,439 743,956 Buildings and improvements 15-40 2,461,040 2,449,095 Machinery and equipment 3-10 932,040 904,312 Furniture and fixtures 3-10 294,113 277,386 Construc t in progress — 181,765 — 7,869,860 7,479,947 Less accumulated depreciation (2,864,216 ) (2,716,381 ) $ 5,005,644 $ 4,763,566 Depreciation expense during the years ended November 2, 2019 and November 3, 2018 totaled $163,097 and $148,204, respectively.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	12 Months Ended
	Nov. 02, 2019
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 2, 2019 November 3, 2018 Accrued warranty expense $ 125,000 $ 125,000 Accrued property and sales taxes 398,877 450,742 Other accrued expenses 1,532,090 773,639 Total accrued expenses and other current liabilities $ 2,055,967 $ 1,349,381

Proceeds Received Under Escrow

Proceeds Received Under Escrow Arrangement	12 Months Ended
	Nov. 02, 2019
Text Block [Abstract]
Proceeds Received Under Escrow Arrangement	NOTE 10 Proceeds Received Under Escrow Arrangement The Company received $379,104 in fiscal year 2019 and $172,911 in fiscal year 2018 under an escrow arrangement related to a Finance Revenue Sharing Agreement between 21 st st

Income Taxes

Income Taxes	12 Months Ended
	Nov. 02, 2019
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 2019 or 2018 statements of operations, nor are any amounts accrued for interest and penalties at November 2, 2019 and November 3, 2018. The provision for income taxes for the years ended consists of the following: November 2, 2019 November 3, 2018 Current tax expense: Federal $ 2,338,619 $ 1,681,641 State 655,498 403,874 2,085,515 Deferred tax (benefit) (25,007 ) (443,685 ) Provision for income taxes $ 2,969,109 $ 1,641,830 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 2, 2019 November 3, 2018 Provision—federal statutory tax rate $ 2,473,701 $ 1,541,697 Increase (decrease) resulting from: State taxes, net of federal tax benefit 511,821 278,507 Permanent differences: Stock option expirations 160 (178 ) Decrease in federal tax rate — (171,248 ) Other comprehensive income (3,462 ) 86,882 Other (13,112 ) (93,830 ) Income tax expense $ 2,969,109 $ 1,641,830 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 2, 2019 November 3, 2018 Deferred tax assets: Allowance for doubtful accounts $ 58,773 $ 58,773 Inventories 48,360 158,598 Accrued expenses 158,171 144,814 Other Assets 55,903 — Stock-based compensation 2,072 1,312 Total deferred tax assets 323,279 363,497 Deferred tax liabilities: Depreciation (78,553 ) (39,490 ) Carrying value of investments (90,168 ) (221,600 ) Amortization (39,611 ) (39,611 ) Prepaid expenses (34,542 ) (22,640 ) Net deferred tax assets (liabilities) $ 80,405 $ 40,156 These amounts are included in the accompanying consolidated balance sheets under the following captions: November 2, 2019 November 3, 2018 Current assets (liabilities): Deferred tax assets $ — $ — Deferred tax liabilities — — Net current deferred tax assets — — Non-current Deferred tax assets 323,279 363,498 Deferred tax liabilities (242,874 ) (323,342 ) Net non-current 80,405 40,156 Net deferred tax assets (liabilities) $ 80,405 $ 40,156 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 2019 and 2018, 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. On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (H.R. 1) (the “Act”). The Act includes a number of changes in existing tax law impacting businesses including, among other things, a permanent reduction in the corporate income tax rate from 34% to 21%. The rate reduction took effect on January 1, 2018. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Nov. 02, 2019
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 212,396 and 123,838 shares of its common stock during fiscal years 2019 and 2018, respectively.

Stock Option Plan

Stock Option Plan	12 Months Ended
	Nov. 02, 2019
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 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 2019 and 2018, the Company recognized compensation cost related to the vesting of stock options of approximately $21,000 and $1,600 respectively. A summary of information with respect to options granted is as follows: Number of Stock Option Price Weighted Aggregate Outstanding at November 4, 2017 5,000 $ 12.10 $ 12.10 Granted — — — Exercised — — — Canceled — — — Outstanding at November 3, 2018 5,000 $ 12.10 $ 12.10 Granted — — — Exercised 2,250 12.10 12.10 Canceled — — — Outstanding at November 2, 2019 2,750 $ 12.10 $ 12.10 $ 34,788 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 2019 and the exercise price times the number of shares, that would have been received by the option holder had the option holder exercised their options on November 2, 2019. The following table summarizes information about the outstanding stock options at November 2, 2019: Options Outstanding Options Exercisable Exercise Price Shares Weighted Weighted Number Weighted Average $12.10 2,750 2 $ 12.10 2,750 $ 12.10 2,750 2 $ 12.10 2,750 $ 12.10 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. 02, 2019
Retirement Benefits [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, up to a maximum of 6% of an employee’s compensation. The contribution expense charged to operations amounted to approximately $170,000 and $88,000 in fiscal years 2019 and 2018, respectively.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	12 Months Ended
	Nov. 02, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	NOTE 15 Commitments and Contingent Liabilities Operating Leases – 9 8 Future minimum payments by year and in the aggregate, under the aforementioned leases and other non-cancelable 2020 49,944 2021 3,000 Total minimum payments required $ 52,944 Majestic 21 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 Signific_2

Reporting Entity and Significant Accounting Policies (Policies)	12 Months Ended
	Nov. 02, 2019
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
Reclassification	Reclassification -
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 2, 2019 or November 3, 2018. Sales of homes to affiliated entities that are subject to contingent payment terms are considered inventory consignment arrangements. Revenue from such arrangements is recognized when the homes are sold to the end users and payment is collected by the affiliated entity. See Note 4 “Related Party Transactions”.
Revenues by Products and Services	Revenues by Products and Services pre-owned 2019 2018 Manufactured housing $ 45,583,022 $ 40,708,950 Pre-owned 492,543 895,489 Insurance agent commissions 272,366 273,747 Total net sales $ 46,347,931 $ 41,878,186
Cash and Cash Equivalents	Cash and Cash Equivalents –
Certificates of Deposit	Certificates of Deposit
Accounts Receivable	Accounts Receivable – Accounts receivable fluctuate 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 Inventory held at consignment locations by affiliated entities is included in the Company’s inventory on the Company’s consolidated balance sheets. Consigned inventory was $1,540,949 and $1,140,982 as of November 2, 2019 and November 3, 2018, respectively. Pre-owned trade-ins (Trade-in Trade-in Other inventory costs are determined on a first-in, first-out See Note 6 “Inventories”.
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 “Commitments and Contingent Liabilities”.
Other Investments	Other Investments - to certain related parties and existing owners, including the Company’s Executive Vice President, who purchased the majority of the 31.3% interest. The transaction value was based on a 3rd party appraisal, and the Company received $1,510,000 in cash. The Company’s investment historically was accounted for under the equity method, which was suspended when the carrying amount was reduced to $nil due to continued losses. See Note 4 “Related Party Transactions”.
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 – 2019 2018 Beginning accrued warranty expense $ 125,000 $ 125,000 Less: reduction for payments (413,734 ) (392,479 ) Plus: additions to accrual 413,734 392,479 Ending accrued warranty expense $ 125,000 $ 125,000 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 – 51 48
Concentration of Credit Risk	Concentration of Credit Risk –
Concentration of Retail Financing Sources	Concentration of Retail Financing Sources –
Recently Issued or Adopted Accounting Pronouncements	Recently Issued or Adopted Accounting Pronouncements – No. 2015-17 2015-17). 2015-17 2015-17 In February 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-02, 2016-02). 2016-02 2016-02 right-of-use 2016-02 right-of-use In January 2016, the FASB issued ASU No. 2016-01, 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, 2014-09), The core principal of ASU 2014-09 1. Identify the contract(s) with a customer; 2. Identify each performance obligation in the contract; 3. Determine the transaction price; 4. Allocate the transaction price to each performance obligation; and 5. Recognize revenue when or as each performance obligation is satisfied. The Company’s revenue comes substantially from the sale of manufactured housing, modular housing and park models, along with freight billed to customers, parts sold and aftermarket services. The impact of Company's initial 2014-09 did not have a material impact on its consolidated fina nc ial statements and .

Reporting Entity and Signific_3

Reporting Entity and Significant Accounting Policies (Tables)	12 Months Ended
	Nov. 02, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenues by Products and Services	Revenues by Products and Services pre-owned 2019 2018 Manufactured housing $ 45,583,022 $ 40,708,950 Pre-owned 492,543 895,489 Insurance agent commissions 272,366 273,747 Total net sales $ 46,347,931 $ 41,878,186
Summary of Amounts Related to Limited Warranty	Amounts related to these warranties for fiscal years 2019 and 2018 are as follows: 2019 2018 Beginning accrued warranty expense $ 125,000 $ 125,000 Less: reduction for payments (413,734 ) (392,479 ) Plus: additions to accrual 413,734 392,479 Ending accrued warranty expense $ 125,000 $ 125,000

Investments (Tables)

Investments (Tables)	12 Months Ended
	Nov. 02, 2019
Investments, Debt and Equity Securities [Abstract]
Summary of Short-term Investments	The following is a summary of short-term investments (available for sale): November 2, 2019 Amortized Cost Gross Gross Estimated Fair Equity securities in a public company $ 167,930 $ 353,353 $ — $ 521,283 November 3, 2018 Amortized Cost Gross Gross Estimated Fair Equity securities in a public company $ 167,930 $ 369,837 $ — $ 537,767

Fair Value of Financial Instrum

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Nov. 02, 2019
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 2 2019 3 2018 November 2, 2019 Level 1 Level 2 Level 3 Equity securities in a public company $ 521,283 $ — $ — November 3, 2018 Level 1 Level 2 Level 3 Equity securities in a public company $ 537,767 $ — $ —

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Nov. 02, 2019
Inventory Disclosure [Abstract]
Summary of Breakdown of Elements of Inventory	A breakdown of the elements of inventory at November 2, 2019 and November 3, 2018 is as follows: November 2, 2019 November 3, 2018 Raw materials $ 941,206 $ 904,399 Work-in-process 125,371 113,220 Inventory consigned to affiliated entities 1,540,949 1,140,982 Finished homes 7,888,879 4,998,004 Model home furniture 120,372 113,946 Inventories $ 10,616,778 $ 7,270,550 Pre-owned $ 1,311,626 $ 1,956,265 Inventory impairment reserve ** (172,395 ) (549,434 ) 1,139,231 1,406,831 Less homes expected to sell in 12 months (331,103 ) (933,640 ) Pre-owned $ 808,128 $ 473,191 * The following table summarizes a breakdown of pre-owned Buy Back Repossessions Trade-Ins Total Balance at November 4, 2017 1,412,902 1,263,927 60,117 2,736,946 Additions — 498,831 95,428 594,259 Sales (697,154 ) (607,115 ) (70,671 ) (1,374,940 ) Balance at November 3, 2018 715,748 1,155,643 84,874 1,956,265 Additions — 253,600 18,860 272,460 Sales (573,353 ) (316,496 ) (27,250 ) (917,099 ) Balance at November 2, 2019 $ 142,395 $ 1,092,747 $ 76,484 $ 1,311,626 ** An analysis of the pre-owned November 2, 2019 November 3, 2018 Balance at beginning of year $ 549,434 $ 779,725 Less: Reductions for homes sold (207,180 ) (253,314 ) Inventory holding costs (36,232 ) (81,977 ) Additions (reduction) to impairment reserve (133,627 ) 105,000 Balance at end of year $ 172,395 $ 549,434

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Nov. 02, 2019
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 2, 2019 November 3, 2018 Land — $ 3,092,463 $ 3,092,463 Land improvements 10-20 908,439 743,956 Buildings and improvements 15-40 2,461,040 2,449,095 Machinery and equipment 3-10 932,040 904,312 Furniture and fixtures 3-10 294,113 277,386 Construc t in progress — 181,765 — 7,869,860 7,479,947 Less accumulated depreciation (2,864,216 ) (2,716,381 ) $ 5,005,644 $ 4,763,566

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	12 Months Ended
	Nov. 02, 2019
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities are comprised of the following: November 2, 2019 November 3, 2018 Accrued warranty expense $ 125,000 $ 125,000 Accrued property and sales taxes 398,877 450,742 Other accrued expenses 1,532,090 773,639 Total accrued expenses and other current liabilities $ 2,055,967 $ 1,349,381

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Nov. 02, 2019
Income Tax Disclosure [Abstract]
Summary of Provision for Income Taxes	The provision for income taxes for the years ended consists of the following: November 2, 2019 November 3, 2018 Current tax expense: Federal $ 2,338,619 $ 1,681,641 State 655,498 403,874 2,085,515 Deferred tax (benefit) (25,007 ) (443,685 ) Provision for income taxes $ 2,969,109 $ 1,641,830
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 2, 2019 November 3, 2018 Provision—federal statutory tax rate $ 2,473,701 $ 1,541,697 Increase (decrease) resulting from: State taxes, net of federal tax benefit 511,821 278,507 Permanent differences: Stock option expirations 160 (178 ) Decrease in federal tax rate — (171,248 ) Other comprehensive income (3,462 ) 86,882 Other (13,112 ) (93,830 ) Income tax expense $ 2,969,109 $ 1,641,830
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 2, 2019 November 3, 2018 Deferred tax assets: Allowance for doubtful accounts $ 58,773 $ 58,773 Inventories 48,360 158,598 Accrued expenses 158,171 144,814 Other Assets 55,903 — Stock-based compensation 2,072 1,312 Total deferred tax assets 323,279 363,497 Deferred tax liabilities: Depreciation (78,553 ) (39,490 ) Carrying value of investments (90,168 ) (221,600 ) Amortization (39,611 ) (39,611 ) Prepaid expenses (34,542 ) (22,640 ) Net deferred tax assets (liabilities) $ 80,405 $ 40,156
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 2, 2019 November 3, 2018 Current assets (liabilities): Deferred tax assets $ — $ — Deferred tax liabilities — — Net current deferred tax assets — — Non-current Deferred tax assets 323,279 363,498 Deferred tax liabilities (242,874 ) (323,342 ) Net non-current 80,405 40,156 Net deferred tax assets (liabilities) $ 80,405 $ 40,156

Stock Option Plan (Tables)

Stock Option Plan (Tables)	12 Months Ended
	Nov. 02, 2019
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 4, 2017 5,000 $ 12.10 $ 12.10 Granted — — — Exercised — — — Canceled — — — Outstanding at November 3, 2018 5,000 $ 12.10 $ 12.10 Granted — — — Exercised 2,250 12.10 12.10 Canceled — — — Outstanding at November 2, 2019 2,750 $ 12.10 $ 12.10 $ 34,788
Outstanding Stock Options	The following table summarizes information about the outstanding stock options at November 2, 2019: Options Outstanding Options Exercisable Exercise Price Shares Weighted Weighted Number Weighted Average $12.10 2,750 2 $ 12.10 2,750 $ 12.10 2,750 2 $ 12.10 2,750 $ 12.10

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	12 Months Ended
	Nov. 02, 2019
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 2020 49,944 2021 3,000 Total minimum payments required $ 52,944

Reporting Entity and Signific_4

Reporting Entity and Significant Accounting Policies - Additional Information (Detail)	Oct. 30, 2019USD ($)	Nov. 02, 2019USD ($)RetailerPlantSegment	Nov. 03, 2018USD ($)
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Number of retail centers | Retailer		10
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	$ 0
Advertising expense		$ 140,520	169,000
Number of Segment | Segment		1
Sales from major customers		$ 46,347,931	41,878,186
Inventory consigned to affiliated entities		$ 1,540,949	$ 1,140,982
Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Percentage of sales from major customers		51.00%	48.00%
Accounts receivable due from customers		$ 685,671	$ 864,410
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		$ 2,629,605	$ 4,026,060
Percentage of sales from major customers		6.00%	10.00%
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		$ 1,308,500	$ 2,097,200
Percentage of sales from major customers		2.00%	5.00%
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
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%
Proceeds from sale of equity investments	$ 1,510,000
Equity Method Investments	$ 0
Ocala Fl [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Number of manufacturing plants | Plant		1

Reporting Entity and Signific_5

Reporting Entity and Significant Accounting Policies - Revenues by Products and Services (Detail) - USD ($)	12 Months Ended
	Nov. 02, 2019	Nov. 03, 2018
Sales Information [Line Items]
Total net sales	$ 46,347,931	$ 41,878,186
Manufactured Housing [Member]
Sales Information [Line Items]
Total net sales	45,583,022	40,708,950
Pre-Owned Homes [Member]
Sales Information [Line Items]
Total net sales	492,543	895,489
Insurance Agent Commissions [Member]
Sales Information [Line Items]
Total net sales	$ 272,366	$ 273,747

Reporting Entity and Signific_6

Reporting Entity and Significant Accounting Policies - Summary of Amounts Related to Limited Warranty (Detail) - USD ($)	12 Months Ended
	Nov. 02, 2019	Nov. 03, 2018
Accounting Policies [Abstract]
Beginning accrued warranty expense	$ 125,000	$ 125,000
Less: reduction for payments	(413,734)	(392,479)
Plus: additions to accrual	413,734	392,479
Ending accrued warranty expense	$ 125,000	$ 125,000

Investments - Summary of Short-

Investments - Summary of Short-term Investments (Detail) - USD ($)	Nov. 02, 2019	Nov. 03, 2018
Investments, Debt and Equity Securities [Abstract]
Available-for-sale Securities, Amortized Cost	$ 167,930	$ 167,930
Available-for-sale Securities, Gross Unrealized Gains	353,353	369,837
Available-for-sale Securities, Gross Unrealized Losses	0	0
Available-for-sale Securities, Estimated Fair Value	$ 521,283	$ 537,767

Fair Values of Financial Inve_2

Fair Values of Financial Investments - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($)	Nov. 02, 2019	Nov. 03, 2018
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Equity securities in a public company	$ 521,283	$ 537,767
Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]
Equity securities in a public company	$ 521,283	$ 537,767

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - $ / shares	1 Months Ended	12 Months Ended
	Jun. 30, 2019	Nov. 02, 2019	Nov. 03, 2018	Oct. 30, 2019	Oct. 29, 2019
Related Party Transaction [Line Items]
Repurchased shares of common stock		212,396	123,838
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%
President [Member]
Related Party Transaction [Line Items]
Repurchased shares of common stock	100,000
Purchase price of common stock	$ 21.95
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%
President [Member] | Walden Woods South LLC [Member]
Related Party Transaction [Line Items]
Percentage of ownership interest				59.43%	59.43%
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%
Executive Vice President [Member] | Walden Woods South LLC [Member]
Related Party Transaction [Line Items]
Percentage of ownership interest				23.04%

Other Investments - Additional

Other Investments - Additional Information (Detail) - USD ($)	Oct. 30, 2019	Nov. 02, 2019	Nov. 03, 2018
Distributions from joint venture - Majestic 21		$ 0	$ 0
Amount invested in joint venture - Majestic 21		$ 250,000
Majestic 21 [Member]
Equity Method Investment, Ownership Percentage		50.00%
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage		50.00%
Profit and loss basis point		50/50 basis
Walden Woods South LLC [Member]
Equity Method Investment, Ownership Percentage	31.30%
Proceeds from sale of equity investments	$ 1,510,000

Inventories - Summary of Breakd

Inventories - Summary of Breakdown of Elements of Inventory (Detail) - USD ($)	Nov. 02, 2019	Nov. 03, 2018	Nov. 04, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 941,206	$ 904,399
Work-in-process	125,371	113,220
Inventory consigned to affiliated entities	1,540,949	1,140,982
Finished homes	7,888,879	4,998,004
Model home furniture	120,372	113,946
Inventories	10,616,778	7,270,550
Pre-owned homes	1,311,626	1,956,265	$ 2,736,946
Inventory impairment reserve	(172,395)	(549,434)	$ (779,725)
Pre-owned homes, net	1,139,231	1,406,831
Less homes expected to sell in 12 months	(331,103)	(933,640)
Pre-owned homes, long-term	$ 808,128	$ 473,191

Inventories - Summary of Brea_2

Inventories - Summary of Breakdown of Elements of Inventory (Parenthetical) (Detail) - USD ($)	12 Months Ended
	Nov. 02, 2019	Nov. 03, 2018
Inventory [Line Items]
Beginning Balance	$ 1,956,265	$ 2,736,946
Additions	272,460	594,259
Sales	(917,099)	(1,374,940)
Ending Balance	1,311,626	1,956,265
Beginning inventory impairment reserve	549,434	779,725
Less: Reductions for homes sold	(207,180)	(253,314)
Inventory holding costs	(36,232)	(81,977)
Additions to impairment reserve	(133,627)	105,000
Ending inventory impairment reserve	172,395	549,434
Buy Back [Member]
Inventory [Line Items]
Beginning Balance	715,748	1,412,902
Sales	(573,353)	(697,154)
Ending Balance	142,395	715,748
Repossessions [Member]
Inventory [Line Items]
Beginning Balance	1,155,643	1,263,927
Additions	253,600	498,831
Sales	(316,496)	(607,115)
Ending Balance	1,092,747	1,155,643
Trade-Ins [Member]
Inventory [Line Items]
Beginning Balance	84,874	60,117
Additions	18,860	95,428
Sales	(27,250)	(70,671)
Ending Balance	$ 76,484	$ 84,874

Property Held for Sale - Additi

Property Held for Sale - Additional Information (Detail) - USD ($)	Jun. 28, 2019	Apr. 30, 2018	Nov. 02, 2019	Nov. 03, 2018
Property, Plant and Equipment [Line Items]
Property held for sale				$ 213,437
Proceeds from sale of property held-for-sale	$ 1,078,325		$ 1,078,324	$ 589,530
Pace, Florida [Member]
Property, Plant and Equipment [Line Items]
Property held for sale			$ 213,437
Belleview, Florida [Member]
Property, Plant and Equipment [Line Items]
Proceeds from sale of property held-for-sale		$ 635,000

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. 02, 2019	Nov. 03, 2018
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 7,869,860	$ 7,479,947
Less accumulated depreciation	(2,864,216)	(2,716,381)
Property plant and equipment, net	5,005,644	4,763,566
Land [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	3,092,463	3,092,463
Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	908,439	743,956
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	2,461,040	2,449,095
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	932,040	904,312
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	294,113	277,386
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 181,765
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
Minimum Range [Member] | Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful life
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
Maximum Range [Member] | Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, estimated useful life

Property Plant and Equipment -

Property Plant and Equipment - Additional Information (Detail) - USD ($)	12 Months Ended
	Nov. 02, 2019	Nov. 03, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 163,077	$ 148,204

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Summary of Accrued Expenses and Other Current Liabilities (Detail) - USD ($)	Nov. 02, 2019	Nov. 03, 2018
Payables and Accruals [Abstract]
Accrued warranty expense	$ 125,000	$ 125,000
Accrued property and sales taxes	398,877	450,742
Other accrued expenses	1,532,090	773,639
Total accrued expenses and other current liabilities	$ 2,055,967	$ 1,349,381

Proceeds Received Under Escro_2

Proceeds Received Under Escrow Arrangement - Additional Information (Detail) - USD ($)	12 Months Ended
	Nov. 02, 2019	Nov. 03, 2018
Related Party Transaction [Line Items]
Proceeds received under escrow arrangement	$ 379,104	$ 172,911
Majestic 21 [Member]
Related Party Transaction [Line Items]
Proceeds received under escrow arrangement	$ 379,104	$ 172,911

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Nov. 02, 2019	Nov. 04, 2017
Income Tax Disclosure [Abstract]
Percentage of tax benefit	50.00%
Tax benefit	$ 0
Corporate income tax rate	21.00%	34.00%

Income Taxes - Summary of Provi

Income Taxes - Summary of Provision for Income Taxes (Detail) - USD ($)	12 Months Ended
	Nov. 02, 2019	Nov. 03, 2018
Current tax expense:
Federal	$ 2,338,619	$ 1,681,641
State	655,498	403,874
Total current tax expense (benefit)		2,085,515
Deferred tax (benefit)	(25,007)	(443,685)
Income tax expense	$ 2,969,109	$ 1,641,830

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. 02, 2019	Nov. 03, 2018
Income Tax Disclosure [Abstract]
Provision - federal statutory tax rate	$ 2,473,701	$ 1,541,697
Increase (decrease) resulting from:
State taxes, net of federal tax benefit	511,821	278,507
Permanent differences:
Stock option expirations	160	(178)
Decrease in federal tax rate		(171,248)
Other comprehensive income	(3,462)	86,882
Other	(13,112)	(93,830)
Income tax expense	$ 2,969,109	$ 1,641,830

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Deferred Tax Liabilities (Detail) - USD ($)	Nov. 02, 2019	Nov. 03, 2018
Deferred tax assets:
Allowance for doubtful accounts	$ 58,773	$ 58,773
Inventories	48,360	158,598
Accrued expenses	158,171	144,814
Other Assets	55,903
Stock-based compensation	2,072	1,312
Total deferred tax assets	323,279	363,497
Deferred tax liabilities:
Depreciation	(78,553)	(39,490)
Carrying value of investments	(90,168)	(221,600)
Amortization	(39,611)	(39,611)
Prepaid expenses	(34,542)	(22,640)
Deferred Tax Assets	$ 80,405	$ 40,156

Income Taxes - Accompanying Def

Income Taxes - Accompanying Deferred Current and Non-current Tax Assets and Liabilities in Consolidated Balance Sheet (Detail) - USD ($)	Nov. 02, 2019	Nov. 03, 2018
Current assets (liabilities):
Deferred tax assets
Deferred tax liabilities
Net current deferred tax assets
Non-current assets (liabilities):
Deferred tax assets	323,279	$ 363,498
Deferred tax liabilities	(242,874)	(323,342)
Net non-current deferred tax liabilities	80,405	40,156
Deferred Tax Assets	$ 80,405	$ 40,156

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - shares	12 Months Ended
	Nov. 02, 2019	Nov. 03, 2018
Equity [Abstract]
Repurchased shares of common stock	212,396	123,838

Stock Option Plan - Additional

Stock Option Plan - Additional Information (Detail) - USD ($)	12 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Nov. 04, 2017	Jun. 30, 2011
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shares reserved for issuance	297,250			300,000
Options Outstanding, Shares Outstanding	2,750	5,000	5,000
Compensation cost related to the vesting of stock options	$ 21,000	$ 1,600

Stock Option Plan - Option Gran

Stock Option Plan - Option Granted (Detail) - USD ($)	12 Months Ended
	Nov. 02, 2019	Nov. 03, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Beginning, Number of Shares	5,000	5,000
Granted, Number of Shares	0	0
Exercised, Number of Shares	2,250	0
Canceled, Number of Shares	0	0
Outstanding Ending, Number of Shares	2,750	5,000
Outstanding Beginning, Stock Option Price Range	$ 12.10	$ 12.10
Granted, Stock Option Price Range	0	0
Exercised, Stock Option Price Range	12.10	0
Canceled, Stock Option Price Range	0	0
Outstanding Ending, Stock Option Price Range	12.10	12.10
Outstanding Beginning, Weighted Average Exercise Price	12.10	12.10
Granted, Weighted Average Exercise Price	0	0
Exercised, Weighted Average Exercise Price	12.10	0
Canceled, Weighted Average Exercise Price	0	0
Outstanding Ending, Weighted Average Exercise Price	$ 12.10	$ 12.10
Outstanding Ending, Aggregate Intrinsic Value	$ 34,788

Stock Option Plan - Outstanding

Stock Option Plan - Outstanding Stock Options (Detail) - $ / shares	12 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Nov. 04, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding, Shares Outstanding	2,750	5,000	5,000
Options Outstanding, Weighted Average Remaining Contractual Life (years)	2 years
Options Outstanding, Weighted Average Exercise Price	$ 12.10
Options Exercisable, Number Exercisable	2,750
Options Exercisable, Weighted Average Exercise Price	$ 12.10
Range One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding, Exercise Price	$ 12.10
Options Outstanding, Shares Outstanding	2,750
Options Outstanding, Weighted Average Remaining Contractual Life (years)	2 years
Options Outstanding, Weighted Average Exercise Price	$ 12.10
Options Exercisable, Number Exercisable	2,750
Options Exercisable, Weighted Average Exercise Price	$ 12.10

Employee Benefit Plan - Additio

Employee Benefit Plan - Additional Information (Detail) - USD ($)	12 Months Ended
	Nov. 02, 2019	Nov. 03, 2018
Defined Benefit Plan Disclosure [Line Items]
Maximum employee compensation	6.00%
Contribution expense charged to operations	$ 170,000	$ 88,000

Commitments and Contingent Li_3

Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($)	Feb. 01, 2019	Nov. 02, 2019	Nov. 03, 2018
Commitments And Contingencies [Line Items]
Total rent expenses for operating leases		$ 162,929	$ 161,105
Percentage of joint venture loan guaranteed by company		50.00%
Guarantee obligations note payable principal amount		$ 5,000,000
Majestic 21 [Member]
Commitments And Contingencies [Line Items]
Percentage of ownership interest		50.00%
Payment of guarantee obligations	$ 94,694

Commitments and Contingent Li_4

Commitments and Contingent Liabilities - Future Minimum Payments by Year (Detail)	Nov. 02, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
2020	$ 49,944
2021	3,000
Total minimum payments required	$ 52,944