I'm a bit confused by your question here. Are you just refreshing an individual property in a single item in the Products list? If so, just raise the PropertyChanged event on that property. Perhaps if you could describe the actual scenario you've got I might be able to offer some more advice.
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I have a list of <productmodel>. If I change a single Product in the list, the item in my tree or list doesn't refresh. Calling RaisePropertyChanged("Products") will refresh the whole collection. To get that to work I have to reload the entore list.
So how do I update the UI so that only the changed item is refreshed?
This may be caused by not have OnPropertyChanged implemented in your model (item in the list).
Our first design had the model in the WCF, this did not allow the event in the model to be used by the view. By moving the models into a separate project that is referenced by both the WCF and the UI we not get the events on the items.
Never underestimate the power of human stupidity