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PriceUpper: Woodrow Wilson Boathouse Resurfaces

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It didn't sell this summer for $500,000, so why is this miniscule "Boathouse" back on the market? Back in July, when we asked if it was priced right, the overwhelming response was that was too high. At 825 square feet, the asking price was about $606 per square foot, and it was listed as a short sale. Now this one-bedroom, one-bath is back on the market, and "approved to sell." The house was built in 1958 and features a walled motor court for five cars, "al fresco dining on the expansive wood deck," and "possible potential to expand." The new asking price is above the last one, but just by a hair: $505,000.
· 7123 Woodrow Wilson Dr Los Angeles, CA 90068 [Redfin]