Many residences that had never appeared in an area designated as a special flood hazard may now be located in one of the color zones that identify areas at risk of flooding.  Anyone living in a high risk zone with a federally insured mortgage will be be required to purchase flood insurance.

The maps colors have the following designations:

Red — The area could be affected by the 1 percent annual chance of flooding with additional hazards due to storm-induced velocity wave action.

Blue — The area could be affected by the 1 percent annual chance of flooding.

Orange — The area could be affected by a 1 percent annual chance shallow flooding.

Pink/purple — A moderate flood hazard area.

Yellow — A moderate flood hazard area.

Gray — An area subject to inundation by the 1 percent annual flood event. The red, blue, orange and gray zones are in the special flood-hazard area. The pink/purple and yellow zones are outside of the special flood hazard area and do not require mandatory flood insurance .

Links to both Collier and Lee County flood zone maps have been posted to the right of this story in the Recommended Links section.

Cape Coral-Fort Myers (11th) and Naples-Marco (16th) also were in the top 20.

Prompted by tumbling property values and a large number of sub-prime loans, Florida has also been slow to get back on its feet because of a foreclosure process that on average takes more than two years to complete, according to report by a Washington –based coalition that is tracking the nation’s housing recovery.

Miami-Dade/ Fort Lauderdale/Pompano Beach had the distinction of having the highest foreclosure rate and the highest percentage of delinquent loans in December, according to figures compiled by Foreclosure-Response.org, a Washington-based advocacy group that tracks the industry.

During the month, the Miami metropolitan area had a foreclosure rate of 18.9 percent. Add to that the percentage of mortgages more than 90 days late and the figure jumps to 23.6 percent, nearly one in four mortgages.

Florida cities captured nine out of the top 10 slots on both foreclosures and delinquencies for the month, a dubious honor attained, at least in part, by foreclosure statutes that require judicial review of all cases, the group concluded.

On the foreclosure front, Florida held the top five spots, with Miami being followed by Port St. Lucie (16.7 percent), Palm Coast (16.6 percent), Tampa (15.9 percent) and Orlando (15.6 percent.). Cape Coral-Fort Myers was at 14 percent and Naples-Marco at 12.1 percent.

“The high and growing foreclosure rate reflects a buildup of homes that are stalled in the foreclosure process,” the report stated. “According to data from LPS Applied Analytics, foreclosure starts continue to outpace foreclosure sales and the foreclosure rate will remain high until these properties fully complete the foreclosure process.”

In Florida, the average foreclosure takes more than 800 days to complete, a figure more than three times larger than what industry observers say is an adequate duration to protect homeowner interests and get troubled property back on the market.

Recent attempts to remove judges from the equation have been offered but failed to garner the legislative support needed to pass. As such, the state will continue to experience longer than average foreclosure times, the group concluded.

Priced at $189,900  Call Jim at 239-273-3833 for more information or to schedule a showing.

This is a unique 2 story home with 4 bedrooms and 3 baths, a cozy fireplace, family room/study, formal dining, atrium and 2 car garage with circle drive in a quiet neighborhood on canal very close to Imperial River.

Priced at $140,900  Call Jim at 239-273-3833 for more information or to schedule a showing.

PRICED TO SELL!! OVER 2000 SQFT WITH INGROUND POOL!! BEAUTIFUL LAKE VIEW!! This 3 bedroom, 2 bath, 2 car garage home is centrally located close to schools, shopping and restaurants. Some of the many features this home has to offer is as follows: tile floor through out living areas, a huge family room, his and hers master bath vanities, a large lanai, inground pool with screen enclosure and great views of fresh water lake. THIS HOME IS A ABSOLUTE MUST SEE!! CALL NOW BEFORE ITS TO LATE!!

Listing courtesy of Sandbill Realty Group.