Hi Ricky,
Have you travelled to Spain before? Have you used the hotels, pensiones and hostales there?
I use my apartment in Valencia, but I have also used the hotels and pensiones in the last few years now and then. My favorite "real" hotel is the Hotel Jardin Botanico, near the torres de Cuart and old town - they are in a late 19th century building that was gutted and entirely rebuilt for the hotel, each suite has absolutelly everything including all pc hook-ups. They have a killer seafood restaurant as a neighbor accross the street. They are at
http://www.hoteljardinbotanico.com Are you flexible enough to handle a pensión or hostál? I would recommend two to anyone: the Pension Castelár is right on the Plaza del Ayuntamiento in the center of town, it has shared baths, but it is very clean and orderly, no loud or rowdy guests ever. Similarly a good choice for moderately priced and well situated lodgings, the hostal Moratín is near the corner of calle de las Barcas and calle Moratín on the east side of the Main Plaza (del Ayuntamiento). Both of these places sound a little unconventional compared to full blown hotels, but they are managed well, they are comfortable, and they are cheaper by half or more than the big hotels around the corner. You can use the savings on the restaurants!!!
If you feel really adventurous, I recommend the Hostal del Cid behind the Mercado Central. It is in an ancient building on a narrow ancient street, and it is very interesting to be sure. It is perfectly nice I am assured, but not for the faint of heart. It is probably a third of the price of the hotels, and I have one eccentric friend who swears by it.
I don't recall any prices exactly, but I do know that all of these places fill very quickly, usually well in advance, and by regular visitors. You may have to call every week or so to see if there have been cancellations at any hotel.
I think that the Botanic price is around 90 dollars per night in the slow season, and about 150 per in the high season. Hostales are about 30 low, 60 or more in the high seasons.
I do know that Holy Week, and Fallas (mid March) are busy times and it is nearly impossible to find a room then. And there are yearly trade fairs when all rooms all over town are filled. And of course December is bound to be very busy, just keep trying.
And prepare for rain just in case, not everyone has central heating, and you will be miserable if you get wet! Last year I was in Spain in February and I took a leather jacket, it was perfect for the weather in Valencia at the time - lots of overcast days, cool days and very cool nights, some rain and fog and one hell of a hail storm.
Another good deal often overlooked is road-side hotels and pensiones that look like truck stops. They are also predictably a good deal.
Which brings me to cars, don't bother renting one in Valencia, public transportation and taxis are great, and you will never find a parking space in town except in August when everyone is on vacation. If you suddenly plan an automobile day-trip after you arrive in Valencia, use the internet/telephone to rent from a US merchant to get a better deal than you might locally.
You will likely pick up and return any rental at the Manises Airport. There is a bus that goes there from near the Angel Guimerá metro stop for very cheap (every twenty minutes), and taxis last March were about 7 euros for the one way trip.
Let me know what you come up with.