Today, cash is King; however, you'll find many persons purchasing with cash; in fact, based on my own analysis, more than 99% of purchases under $200,000 in Las Vegas are cash purchases.
Being a cash buyer doesn't set you apart from other cash buyers, but it definitely sets you apart from so many people wishing to purchasing investments with conventional mortgages.
The Multiple Listing Service (MLS) is used by over 95% of all agents in Las Vegas, include agents who represent the banks, selling bank-owned properties.
You can access a simple (non-agent/member) version on my website, which will pull live data from the MLS; go to www.markfleysher.com, Property Search, Single Family Residential (Homes, TownHomes, Condo's), enter your criteria and at the bottom of the criteria you will find "Repo/Reo Y/N", choose Yes to view only bank-owned homes.
Here is a link to the Las Vegas Area Map: http://dl.dropbox.com/u/2660020/mls_area_map.pdf
I can help with any of your Las Vegas Real Estate needs or questions.
Mark Fleysher, MBA, Realtor