Anthony: there are about 150 properties for sale in Lakes by the bay, ranging in price from $87,900 (townhouse in Isle, to $470,000 for a 5/3 2,800 sf in Day. There are 28 4/2 homes, 7 of which are similar to yours in square footage. Yours is the most expensive (the mls also shows that you're a 4/2, not a 4/2.5). That is not the position to be in because you become the last option, even if you're the best house. There were two closings in the last 90 days of similar homes, both for about $210,000 (9838 SW 221 ST, a regular sale and 8744 SW 213 LN, an REO). Unfortunately, those two numbers set your price point. There are about 2,800 properties in Lakes by the Bay; there are 640 that show lis pends (the first step towards foreclosure) filed against them.
The answer to your question is that you have not hit bottom, and that in a year or so, your home is likely to fall below $200,000. There are a number of areas to the South - Lakes by the Bay, Spicewood, and several others, that have been hit very hard by the foreclosure market. I don't know what you owe on the property, but you may need to seriously examine your position before deciding what to do next.