I completed the "Gnoll Mastery Quest" last night and got a trophy and another book to place in my house.
The trophy is cool; it's an axe at I can place on the wall. Very sexy.
Personally I like the housing. I'm going to be upgrading as soon as I can to one of the houses in South Qeynos (or maybe an apartment in the inn in North Qeynos first; a little cheaper.)
At any rate, much of the housing outside of the inn is not instanced, and there is a limited amount of room for non-instanced housing. So once you buy it, people can come visit
your house, and not choose between you and 50 other people's houses.
Once I get a bigger house I'll have me some cocktail parties...