I want to thank everyone for their thoughts. Reading all the replies there is a range in how one should go about the landing in view of 91.119. Yes I am a newbie, a bit of a rebel, but I want to learn to fly safely and frankly I heard about the Trent Palmer case and I know my situation is different, I am landing at a non-towered airport, but not really different in the broad sense of how 91.119 was explained to me. A smart guy that I know explained Palmer and 91.119 to me and said it has nothing to do with a suitable place to land, the FAA screwed up making that the heart of their case, it's an appealable error. He told me that the case really has to do with the meaning of necessary and that you cannot use "I am landing" as a blanket excuse to qualify for the exception. So at the airport I described, the smart guy (who is a pilot and a lawyer) tells me you cannot fly 100, 200 or maybe even 300 ft AGL over homes located at the beginning of base leg when there are plenty of higher altitude and flight path options to safely get you to the final approach leg and all along the route, like what was said in the replies above, the ability to glide to the runway should equipment failure occur.
To answer some questions above: Runway end to end 2700ft. The published pattern puts base leg about a 1/2 mile or so from the beginning of the runway (which if you fly the published pattern the homes would be about 1/4 mile outside the pattern). Most pilots either extend the pattern and go around the homes, fly straight ins or just approach the other end of the runway to land (there are a lot of open fields around these homes). It is a rare few pilots that have no concern about flying at very low altitude (100-300 AGL) over the homes maybe because there is no enforcement at the airport and complaints to the airport go unresolved, or they just feel, like some have replied above, that you are at an airport and the 91.119 exception applies at any altitude. As a humble newbie from the replies I read above it makes sense to avoid the homes or at least be above 500ft AGL at the beginning of final leg. However, I really need help with this because you all have more experience than me (some are instructors) but you are not all in unison about 91.119. Please advise. Thank you in advance for your help!