Properties in Las Vegas are valuable properties. However, the market determines the value...it always has and always will. If a home seller wants to cash out of a property for whatever reason (i.e. relocation, move funds within a portfolio, etc.) they need to get it priced right from the beginning.
The ability to test the Las Vegas housing market at this point is less flexible than in recent years. Every home seller wants the most amount of money for their property and they want it sold within the least amount of time. Well, what does every buyer want? They want the home as inexpensive as they can get it. The current housing market in Las Vegas is a buyer's market. Sellers had their shot at driving the deals a few years ago. Sellers ought to be very realistic when pricing their property so they don't sit for months with few to no showings or offers. There are just way too many houses out there for prospective buyers to choose from.
I don't suggest giving away the farm; there are still ways to test the market's demand. What I do suggest is choosing an agent who understands how to price a property correctly. Exposure is important in any market but most buyers understand that there are deals to be had and will pass over a property strictly on price knowing there is another property around the corner with similar features and location.
Find a Las Vegas agent to represent you in exposing the home to the market and pricing it correctly for sale. You will not want to pay months of mortgage payments only to have your listing expire and your home sit. Price it correctly and get it sold!