I actually posted this question back when we were looking. I did end up passing on the "wallpaper" house. The home continued to drop in price and someone else eventually bought it as it went to short sale. We ended up buying our home in November and I only had to "de-princess" a bedroom for my son. Mainly removing border and then painting. More my speed
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Thanks everyone for their input. This is a great forum and I still visit it even though I am now settled in my new home.