I want to highlight a area like on the image below which is taken from Google Maps. Is this possible to accomplish with the current version of their API (v3)? If yes, how?>
You can automatically highlight an area with Google Maps Javascript API, here is an example:
Place ID Finder
Place ID:
You will need to replace API KEY with your API KEY. Try e.g."Nea Smyrni 171 21, Greece" in the input and then select the first drop down option and notice that it automatically highlights the area!