Recovery HD present but can't boot from it
Recovery HD still has to download OS X from the Internet. Your only hope of not downloading at all is if you have access to some device, either yours or a friend, that already has the OS X installer app. If you do, you should make an 8GB partition on your HD named Untitled and follow this procedure to make it a version of Recovery HD that has the OS saved locally.

If you don't have any way to get the OS X installer, the only other thing you could do is wipe your hard drive and restore from a Time Machine backup, using Internet Recovery to facilitate the process.