The current system in place is absolutly atrocious. To even get a house you either A. have to camp a house for hours, or B hope you get lucky and snipe a house from someone who has been camping the house and makes them rage since they put so much time into trying to get that house only to lose it to someone who just so happend to come along at just the right time.
Here are some way better ways to deal with housing. First way is instead of the invisible timer is bidding for the house. This puts alot less time and rage on the people who get there first and the people sniping gets a chance to buy it too. Now the down side to this is that there are people out there who buy Gil with real money. There are ways to stop this. Set it to where you can receive X amount of Gill a day from trades. I could go more into this but that intire different issue, maybe ill make a different post.
Some will say if there is a bidding system wont the owner be able to set the starting bid. The starting price would be the standard price depending on the size or the location of the house.
Overall this system is so much better with a bidding system because it feels alot better to the players that participate in the purchasing of a house and people cant re-sell the house at absurd prices.