To me looked like you wanted a 1 hr timer.... You think house scripting is done... nope. They are still active, but not as openly visible as they once were. Take a look around after a large home / plot falls.. Do tracking & you'll see many of the old house scripter placers are there (I have stealthed back in to see & done tracking after 30 mins & they are there). Seen it on napa.
As far as the tool timer, yes & no on it working correctly. I helped a friend try & place a keep, I tried for 30+ mins on placing, never Once did I get the "Can't Place, you must wait" msg at all, which I thought was odd & I tried numerous numerous times. The random time thing is the best for all. For if they shortened the time to a "Time frame of an hr" it wouldn't take long for the scripters to fig out how to beat it. Ya have to remember, a script knows EXACLY where it must go to fit, where as the average person has to try a few times normally to get a house placed (least I do), especially if it is in a tight area & will ONLY fit if it is on 'X" tile.