Tuesday, January 13, 2026

Good Morning! On this day in 1990, L. Douglas Wilder was sworn in as the governor of Virginia. He was the grandson of slaves and the first black man in American history to be elected governor of a state. "I can say to you today that I am a son of Virginia," Wilder said in his inaugural address.

Gov.-elect Abigail Spanberger will make history on Saturday when she is sworn in as Virginia's first female governor. She won't quote J. Lindsay Almond, who used his 1958 speech to defend racial segregation in Virginia's public schools. "Integration anywhere means destruction everywhere," Almond said.

By 2006, Tim Kaine was more conciliatory. "I seek the help of all Virginians, regardless of party or region, race or religion, in keeping the promise of Virginia," he said during a ceremony in Colonial Williamsburg.

Do you have a favorite quote from a Virginia governor? Hit reply to share it with us.

Today's sponsor is AARE, a real estate investment platform that aims to help everyday investors participate in what it believes may be the most compelling real estate buying opportunity since the post-2008 cycle.

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Banfield Trial Gets Underway

Jury selection began in the double murder trial of Brendan Banfield. He is charged with killing his wife and another man in his Fairfax County home in 2023.

Authorities allege Banfield was having an affair with the family's Brazilian au pair—Juliana Peres Magalhães—and that the two lured a stranger to the house to kill him and frame him for the murder of Christine Banfield.

Magalhães later pled guilty to manslaughter and agreed to testify against Banfield. The Banfield's then-4-year-old child was home at the time of the slayings.

Hurricane Helene Recovery Payments Begin

The Virginia Farm Recovery Block Grant began making payments to farmers and landowners who suffered income loss as a result of Hurricane Helene in 2024.

Virginia was one of six states to receive block grant funding assistance from the federal Department of Agriculture and is the first to start making payments. The state accepted 494 applications for the aid.

"We will continue to stand with our agriculture and forestry producers to help Virginia farms and forestry operations rebuild and recover," Gov. Glenn Youngkin said. The program will eventually reimburse producers and landowners who suffered other types of losses, including damage to buildings, loss of future profits, and crop damage.

Minneapolis Killing Sparks Rallies

Protesters across the state gathered to oppose the use of force by Immigration and Customs Enforcement agents following the killing of Renee Good last week during protests in Minneapolis. Good graduated from Old Dominion University.

"Instead of shrinking in fear right now, in order to stop this violence, we have to come together with one voice as a community and say: no more," said Danny Clawson, executive director of the Virginia Harm Reduction Coalition.

A group called Take Action Southwest Virginia hosted a peaceful rally in Abingdon. "Everybody's angry. Everybody's scared," one organizer said.

Leesburg Mayor Kelly Burk told hundreds of protesters, "We will not tolerate a government using the military against its own citizens."

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A Pivotal Opportunity in Real Estate, Echoing 2008

A pattern is emerging that only happens once every 15 years or so. Typically, only real estate insiders are in a position to act on it in time.

The last time this happened, Blackstone created Invitation Homes and went on a $10 billion buying spree. It resulted in billions in profit, and Invitation Homes is now a public REIT.

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Just like before, it's all about timing as the Federal Reserve makes a critical U-turn in its policy.

From 2022 to 2024, the Fed raised interest rates at a historic pace, contributing to 30-40% lower real estate prices today. With the Fed lowering interest rates, this could supply a major tailwind to real estate values going forward.

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They've assembled a war chest of income-producing properties, with $2.75B+ in transactions.

Their experience gives AARE a strong advantage in today's market.

And they're still at ~$39M valuation, while other REITs are valued 100x more.

Many of these REITs saw massive upside last cycle thanks to buying sprees of their own:

Prologis stock gained 950%
American Tower stock gained 910%
Crown Castle stock gained 1,300%

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➤ Statewide: Departing Gov. Glenn Youngkin seemed to rule out running for president in 2028. "I think Vice President Vance would be a great nominee," Youngkin told a national audience just days before he vacates the governor's mansion. (Details)

➤ Richmond: The Board of Education decided to wait two months before it revisits the issue of updating the Commonwealth's Consolidated State Plan that would impose standards to govern the teaching of history and social science. (More)

➤ Northern Virginia: The Virginia Department of Health reported the state's second case of measles this year. It warned that travelers on Amtrak Northeast Regional Train 175 from Philadelphia to D.C. last Wednesday may have been exposed to the virus. (Details)

➤ Goochland County: Hayden Alexander Kyle from Henrico was sentenced to 20 years in prison, with 15 years suspended, for his role in a car crash that killed two other teenagers in May 2024. Authorities determined he was speeding when he lost control of the vehicle and crashed into a tree. (More)

➤ Prince William Public Libraries was named a Top Innovator for 2025 by the Urban Libraries Council for its Finding a Way to Slay Among Gen Z initiative. (More)

➤ Vienna-based Ilia Malinin successfully defended his U.S. Figure Skating championship—making him a four-time winner—to earn a slot on the Olympic team. He will compete for a gold medal in Italy next month. (Details)

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➤ UVA men's basketball, ranked No. 16 in the latest AP poll, visits No. 20 Louisville tonight. (Score)

➤ The Washington Wizards may sign newly-acquired point guard Trae Young to a contract extension even if he doesn't play this season. (More)

➤ Washington Commanders quarterback Jayden Daniels ranked No. 28 in NFL.com's end-of-season quarterback rankings, fifth from the bottom. (More)

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➤ The average price of a gallon of gas edged up by half a cent in the Commonwealth over the last week. The tracking site GasBuddy reported the price at $2.69 per gallon, 10.3 cents less than last month and 25.3 cents less than last year. (Details)

➤ Greenbrier Mall may soon house a Costco Wholesale store. The big-box store recently filed a fueling station permit with the City of Chesapeake. (More)

➤ Norfolk International Airport offered its first overseas flight since 2001, as Breeze Airways began nonstop service to Cancun. (Details)

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Real Estate Is "Too Cheap to Ignore"

That's the word from the Wall Street Journal.

It's part of a market cycle that only comes around every 15 years or so.

Enter AARE. They've built their real estate portfolio for 20+ years, facilitating $2.75 billion in transactions. And now, the company is giving everyday investors access to their latest deals.

Commercial real estate is one of the highest-quality assets on the market. That's why some REITs are valued at up to $120 billion, more than 100x AARE's current $39 million valuation, which points to real upside potential.

Plus, they plan to pay out up to 100% of income in dividends*. But it gets even better…

You can also get up to 15% bonus stock when you invest in AARE today.

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➤ The Virginia Board of Historic Resources approved the placement of nine new markers at important sites around the Commonwealth, ranging from the Middle Peninsula to Lee County. (Locations)

➤ Rep. Suhas Subramanyam, a Democrat from the 10th Congressional District, told a town hall meeting that he is serving in "one of the worst Congresses in history." (More)

➤ Westmoreland State Park along the Potomac remains a great place for a walk, even during the cold winter months. (Details)

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