Over at Zillow, they’ve just released the results of the latest Homeowner Confidence Survey, and wouldn’t you just know it, but homeowners are still way out of touch on their own home’s value.

While now more than half have faced reality and acknowledge that their own home’s value has declined over the past year, over 70 percent believe that their homes will either maintain present value, or even appreciate, in the first half of 2009.

Pop the champagne, the bottom is in!

‘Oh, what have I done?’, originally uploaded by NotoriousRaychel.