Nobility Homes, Inc. designs, manufactures, and sells a line of manufactured and modular homes through its own retail sales centers throughout Florida. The company also sells its manufactured homes on a wholesale basis to independent manufactured home retail dealers and manufactured home communities. Manufactured Homes The company’s homes are available in approximately 100 models sold under the trade names, such as Kingswood, Springwood, Springwood Special, Tropic Isle Special, Regency Manor Special, and Special Edition. The homes, ranging in size from 431 to 2,650 square feet and containing from one to five bedrooms, are available in single-wide widths of 12, 14, and 16 feet ranging from 35 to 72 feet in length; double-wide widths of 20, 24, 26, 28, and 32 feet ranging from 32 to 72 feet in length; triple-wide widths of 36, 38, and 42 feet ranging from 46 to 72 feet in length; and quad-unit with two sections 28 feet wide by 48 feet long and two sections 28 feet wide by 52 feet long. The company’s floor plans could be built as an on-frame modular home. The company has been approved to build A.N.S.I. Park models under 400 square feet and exposure D homes. Its homes are sold primarily as unfurnished dwellings ready for permanent occupancy. The company’s manufacturing plant utilizes assembly line techniques in manufactured home production. The plant manufactures and assembles the floors, sidewalls, end walls, roofs, and interior cabinets for their homes. Retail Sales Prestige Home Centers, Inc. (Prestige), the company’s wholly-owned subsidiary, operates 10 retail sales centers in north and central Florida. The primary customers of Prestige are homebuyers who purchase manufactured homes to place on their own home sites. Prestige operates its retail sales centers with a model home concept. Each of the homes displayed at its retail sales centers is furnished and decorated as a model home. Investments in Limited Partnerships The company has a 31.3% investment interest in Walden Woods South LLC, which owns and operates a 236 residential lot manufactured home community named 'Walden Woods' located in Homosassa, Florida. The company has a 48.5% limited partnership investment in CRF III, Ltd. (Cypress Creek). Cypress Creek owns and operates a 403 residential lot manufactured home community located in Winter Haven, Florida. Insurance and Financial Services Mountain Financial, Inc. (Mountain Financial), a wholly-owned subsidiary of Prestige, is an independent insurance agent and licensed mortgage loan originator. Its principal activity is providing retail insurance services, which involve placing various types of insurance, including property and casualty, automobile and extended home warranty coverage, with insurance underwriters on behalf of its Prestige customers in connection with their purchase and financing of manufactured homes. As agent, the company assists its customers in obtaining various types of insurance and extended warranty coverage with insurance underwriters. The company provides appropriate reserves for policy cancellations based on various factors, including past transaction history with customers, historical experience, and other information, which is periodically evaluated and adjusted as deemed necessary. Mountain Financial also provides construction financing to buyers who have been approved for financing by an independent third party who are purchasing a home through the company’s retail sales centers. Wholesale Sales to Manufactured Home Communities The company sells its homes on a wholesale basis through 2 full-time salespersons to approximately 30 manufactured home communities. To stimulate sales, the company sells homes for display to related manufactured home communities on extended terms. Regulation Modular homes manufactured by the company are required to comply with the Florida Building Code established by the Florida Department of Business and Professional Regulations. The company’s homes are subject to the requirements of the Magnuson-Moss Warranty Act and Federal Trade Commission rulings, which regulate warranties on consumer products. History Nobility Homes, Inc. was founded in 1967. The company was incorporated in 1967 as a Florida corporation.
nobility homes inc (NOBH:OTC US)
3741 SW 7th Street
Ocala, FL 34474
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