You could paint the dry erase board frame or reframe it in something that matches your decor. Another suggestion...is there any way you could use a roll up shade that you could put the things on it and then roll it up when your students are not there?

There are many very inexpensive wall mirrors available on craigslist...even with quite gorgeous frames, in fact the more ornate ones seem to be less expensive. Maybe you could find a couple and use them like bulletin boards, either directly on the mirror, or install cork over the mirror.

I've linked below to a conference room cabinet. There's a whiteboard which is covered by two swinging doors. I know the one pictured is out of your price range, but it shouldn't be too hard to make something similar.

You could put anything you like on the outside of the doors--mirror, pictures, tapestry-- and then line the back and inside of the doors with cork to pin things up.

When you are having lessons, open it up. When the living room stops being a classroom and returns to normal daily living, close it.

Here is a link that might be useful: conference room cabinet

How about one or two of these?

Here is a link that might be useful: Magnetic boards

Thanks very much to those who suggested such neat ideas! I'm sorry I didn't respond sooner; I've had evening rehearsals the last two nights and came home too late to write replies.

Grandmaof3 and Olychick--I too have been thinking about reframing a board in a more attractive frame. Believe it or not, this is a little
intimidating to me; I'm not quite sure how to do it.

Camlan--thanks for the link. I like the fact that the cabinet has the cork board as well as the magnetic writing board and can also be used for storage.

Polly929--those are great! So pretty and large enough for what I want to do.
At this time, I will probably order one or two of the boards from Ballard.