The information is exactly the same. However, communication of information is only a part of what language does. Language also lets you communcate what is going on inside your head.
"Over" means above. A bird flies OVER your house. In sentence #1, the speaker mentally flies over James' house and looks down upon it. I'm not saying he imagines himself to be a bird, but in his mind he travels to the spot before he names it. It makes his language more interesting and more human.