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If you look on Zillow, there are plenty of 2+ acre lots all around the Puget Sound area for less than $120k. You aren't going to be getting prime waterfront property at that price, but it looks like you could find something within reasonable driving distance of salt water and in a decent school district. You are probably just going to have to come up here are start looking at lots and getting a feel for various locales.
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You'd have to live way out there though. I couldn't find any residential two acre properties near water or decent schools in King County under $100k, and the only ones in Kitsap have restrictions like wetlands, or no power and water.
As for politics near the water, King County is very liberal as you probably know. And Kitsap County is heading that way too, despite Republican efforts. See Randy's thread in this forum on the recent closure of the Kitsap Rifle Club for an example. Bainbridge especially is packed with liberal voters, and the growth of the Bainbridge vote bloc is causing the whole county to trend Democrat.
You could pick up something like this 2 acres in Lakebay for $24k, but I suspect it is probably a swamp for six months of the year. And the local school is ranked 3/10.
http://u.zillow.com/p2IGz50/
To get a couple of acres under $100k otherwise, you need to be way out in Duvall or Enumclaw.
Where are you going to be working OP? Given our crappy traffic, work should be the biggest influence on where you should live, unless you enjoy sitting in a traffic jam. Seattle traffic is almost as bad as Los Angeles, and we have a lot of water that forces traffic into choke points.