From reading other threads and listening to financial aid sessions at several colleges, most do not use the value of your primary residence even if asked for in the CSS. 2nd homes, business property, investment properties, and other real estate may be considered depending on their formulas.
There is a thread that mentions a college still using primary residence and amount owed in their formula and expects loans to be taken out as part of meeting need, but I do not have first hand experience with that. That was not the case with any of our aid packages.
The only outlier in the questions in the CSS was UMiami. They had some different questions including make, model, and year of cars we drive. That was kind of fascinating to me.