The good news is that you bought in 2007 when prices were dropping, so you shouldn't have overpaid by much for this home, but running comps will be the best and true way of telling where you stand. It could have been worse if you'd bought in 2005 when the prices were at an all time high, then I could pretty much tell you that you'd take a fair sized loss if you decided to put the villa on the market now. I'd be very happy to do this for you and help in any way. As a guesstimate I'd also say you'd have to sell for what you paid or even less, but, I strongly recommend running comps first - it could be that you got a great deal.
Did you make improvements to the home in the short time you've lived there? That too, will have an impact on price and marketing time.
I'd love to help in any way - the first thing right now is to get everything ready to show - remove clutter, make sure closets are tidy, everything clean, fix up any repairs that need to be made, freshen paint etc., so that it shows beautifully to any prospective buyers.
Are you looking to buy in Coconut Creek too?
Best of luck to you and your growing family - feel free to contact me for any help I can offer!