You ended with cash of $60,000 and home equity of $510,000. Your net worth of $570,000 is equivalent to $190,000 before the inflation. It's true that you would have to sell the house (or take out a HELOC) to tap the equity.
Feces does not smell like perfume.
As a aside, a friend whose father owned a large pig operation would comment to visitors (when they realized how strong and repugnant was the odor of the farm)...
"In case you are wondering about that smell...that's the smell of profit!"