If you need a place to stay while visiting the faire, here are two choices I suggest you look into:
First, try Camp Richardson Historic Resort & Marina - the host and main sponsor of the Valhalla Renaissance Faire. Camp Richardson is a "home" of the Rennies while we are putting on the show. It is an amazing hotel with tons of all season cabins also available for larger parties. And, of course, the Beacon Restaurant at the marina is an amazing place for run runners and food.
I spoke recently with Mai and she said that the hotel is pretty much booked out for the first weekend, but the second weekend is still pretty well open. Let them know that Marti from Ren Prod sent you!
Second choice - Pine Cone Acre Motel. I've stayed here quite a few times and I love this motel. It is located 1-2 miles away from the faire site. The rooms are spacious and clean and most even have kitchenettes.