Stucco

Down South, all stucco needs to be waterproofed because it soaks up moisture and keeps the trim wet behind the surface.  At the very least, this leads to continually peeling paint around windows and doors.  What it needs are two coats of elastomeric paint with all openings caulked in a polyurethane sealant.
Hairline cracks need to be filled with a flexible stucco patch before painting.
 

Stucco