Every dog has his day,scaredy. I thought you put your day on the calendar with this house. You do make some sense about the pool, given your aversion to going too far in on a house with your funds.The pool could come almost free, depending on the situation, but is it worth restricting the potential houses,lots, views, persimmon orchards? Good luck.
Also I would try to get over the assumption that every deal is going to go down 20%. Many houses bought between the past peak and now will likely never go below purchase price.