Currently available are many great buys, on homes on Whidbey.  For example: currently available in the Snakelum Point area of Coupeville is a beautiful 4.72 acre parcel with a filtered view of Penn Cove.  There is also a small cabin, although quaint and charming is of little or no value. The seperate garage and carport would provide a place to store material and tools while building. Priced at only $185,000 this is an excellent opportunity to own treed acreage. 
Homes are selling at or below current assessed values.  Purchase mortgage money is available and the market appears to be balanced in number of sales versus number of listings.