Fair value of long-term debt |
6 Months Ended | |||||||||||||||||||||||||
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Apr. 30, 2019 | ||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||
| Fair value of long-term debt | Note 9 – Fair value of long-term debt:
The following table shows the estimated fair value and carrying value of FREIT’s long-term debt at April 30, 2019 and October 31, 2018:
Fair values are estimated based on market interest rates at April 30, 2019 and October 31, 2018 and on a discounted cash flow analysis. Changes in assumptions or estimation methods may significantly affect these fair value estimates. The fair value is based on observable inputs (level 2 in the fair value hierarchy as provided by authoritative guidance). |