Here is an excerpt from a local Outer Banks property management website on what seems like the lack of foreign investment in Outer Banks Real Estate.  I have to agree, it does not seem that foreigners have found the value of investing in the OBX.  This is a surprise considering the increasing tourism revenues that are being found.

According to the NAR, foreign investment in US property is becoming a growing trend. From May 2007 to May 2008 the NAR estimated 150,000 to 190,000 homes were sold to foreign investors. North Carolina did not make a top state according to the NAR. That is not surprising from what I have seen on the Outer Banks. I personally have not seen a rash of foreign investment along the island. The typical investor would seem to fit the profile for Outer Banks home buyers.

Full Article: Outer Banks not big on foreign investment