What do most people do? I don’t want it to look cheap. Obviously I need to be able to point my remote at something.
Robert,
Is this a fireplace that you use? If so, you need to think long and hard about what you are doing. Any consumer grade electronics like a LCD TV is going to be rated for a maximum ambient temperature of something in the area of 90 F. Any temperature higher than that is inviting rapid and catastrophic failure of your TV. In fact, in general, anything above basic room temp is a problem for any electronics and will cause a much higher failure rate than what would be otherwise anticipated for what ever TV it is that you are buying.
I would suggest that you perform a little experiment. Build a fire in your fireplace just like you might later in the season. Now use a thermometer to measure the temperature at the location you would expect to mount this TV.
I realize from a room organization viewpoint, you may think placing your TV above the wall is needed. We have the same sort of situation here. However, we made two focal points in the room instead and could not be happier with our decision.