[boscoe1]

If anyone is thinking of moving to vegas, now is the time. Asking prices are low and the actual selling price is usually around 10-15% less than the asking. Alot of homes are going into or already are in foreclosure. My sister just bought a foreclosed home in vegas for 350,000 that sold 2 years ago for 525,000. The only place worse for real estate right now is the Phoenix area but there was an unreal run up in values there that had to correct itself sooner rather than later. Buy in vegas now and I am sure you will make money a little further down the road.
As for raising a family in Vegas, it's really not a bad place to do so. if you are concerned about the public schools check the many private ones around. Many of them are really not that expensive at all. Bishop Gorman for example.
My family is from the midwest and we moved to Vegas in the mid 90's. I came back to the midwest for a job but i have to say i would move back to Vegas in a second if i had the chance. Just like any large city there are good and bad parts to Vegas but you learn quickly where to stay away from and there are plenty of nice places to live out there.
To the OP, i would go with Vegas over your other choices. I can honestly say your kid will thank you for the great time he had growing up as he leaves the state to go to college because colleges in Nevada is where the problems are. But at least you will be alone in Vegas and then the real fun starts