Las Vegas has had a fairly volitile market in the recent couple of years. Forbes has listed the market as a strong potential for a large swing in the near future.
The amazing growth in Las Vegas real estate of a few years ago spurred a market correction. Oddly enough, the market is likely to over correct. Those in place for the return correction will reap the benefits of a waiting buyer's population. 2008 and 2009 are likely to require many newcomers because of the intense need for people to fill jobs for some of the huge developments.
Don't let an awesome opportunity pass you by.