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A message from the editor-in-chief.

The year 2009 is indeed an auspicious one. A new president has taken office in a time of major challenges, and the serious economic problems that originated in the U.S. real estate market have yet to be resolved.

Many of The Appraisal Journal's readers are intimately involved in the critical elements of the economy. Although there is no crystal ball to tell us when the real estate market will recover, we know that competent, knowledgeable professionals in valuation will play a key role.

This year, more than ever, it is important to examine valuation issues and present real estate ideas with thoughtful analysis. This is the mission of The Appraisal Journal and has been since its inception in the dark years of the Great Depression. As the Appraisal Institute's first president Philip Kniskern observed in 1932, "Improvement and advance come from the interchange and discussion of ideas and theories and from sympathetic constructive criticism of actual work or theories" The Appraisal Journal will continue to fulfill its mission by publishing articles to help the professional community work together and position itself in the changing world of real estate valuation.

We are fortunate to have James DeLisle, PhD, on board to provide insightful analysis of the economic sectors affecting real estate markets. Dr. DeLisle is beginning his tenth year as The Appraisal Journal's "Financial Views" columnist. We are extremely grateful for his continued service.

The Editorial Board deeply appreciates the contributions of all who submit manuscripts to the Journal. With your help, The Appraisal Journal will truly continue to be a peer-reviewed forum for information and ideas in practice and theory of valuation.

Some of our readers may wonder about the process of being published in The Appraisal Journal. The following is intended to offer insight into the matter.

The Appraisal Institute receives numerous manuscripts each month. The first step is for the Editor-in-Chief to preliminarily screen submissions. The purpose in so doing is to eliminate any that are clearly not appropriate for our readership and to determine if specific reviewer expertise is needed.

Members of our review panels are then invited to volunteer for the review of a manuscript. Typically, three to six reviewers are assigned to each article. Manuscripts written by academics are reviewed by at least one academic reviewer. All articles with statistics are reviewed by a member of the Statistics Work Group, i.e., a reviewer with a deep knowledge of statistics.

The entire review process is double blind in character. Reviewers do not know the identity of authors and vice versa. Such a protocol is obviously intended to eliminate personal bias. Similarly, reviewers are expected to decline to review any article that they cannot review with objectivity.

In addition to providing narrative commentary on the articles, reviewers suggest whether articles should be rejected, salvaged, or published. If an article is rejected, clearly no further action is needed other than to notify the author. If an article is to be "salvaged," i.e., revised and resubmitted, reviewers' comments are distilled and synthesized for transmission to the author. If an article is recommended for publication, the author is notified, and staff edits the piece into final form. The Editor-in-Chief makes the final decision on each manuscript.

The reviewers, staff, and I fully respect the many hours of hard work necessary to complete an article submitted to the Journal. Consequently, we take all submissions seriously and are committed to doing our best to ensure that each submission is treated fairly and objectively.

I am extremely proud of our reviewers and staff, and feel that the editorial process is professionally undertaken. We are also most appreciative of all who submit their articles.

On a sad note, The Appraisal Journal mourns the loss of Pete J. Haginas Jr., MAI, who had served on the Appraisal Journal Review Panel since 2005. Mr. Haginas was active in professional education and served as chair of the Appraisal Institute's Continuing Education Committee and as education chair for the Houston Chapter. He also served on AI's Government Relations Committee and Public Affairs Committee. He will be missed by all who knew him.

Just as 2008 brought unanticipated challenges, 2009 will do the same. We at The Appraisal Journal will continue to work to bring you articles that help you meet these challenges.

Stephen T. Crosson, MAI, SRA

Editorial Board Chair and Editor-in-Chief

The Appraisal Journal
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Article Details
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Author:Crosson, Stephen T.
Publication:Appraisal Journal
Article Type:Column
Geographic Code:1USA
Date:Jan 1, 2009
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