potential stucco issue

I'd have a local contractor check out your concerns. The roof drip edge looks very far out over the gutter, maybe just new gutters are needed or the O.H. cut shorter. The downspouts may be too small for the length of gutter and volume, may not be a drip-edge under the window sill trim board, hence the water lines under them (should not be any wet spots showing when everywhere else is dried out)... He will check the horizontal trim board head flashing to the stucco. Also head flashing over window trim boards appear wet, shouldn't be if flashed properly. Pull a shutter off and examine attachment method, should be water tight. If you have bulges, it may already be too late in those areas. Bulges; small crack; more cracks; sections fall off, sounds like hard-coat stucco- some reading for you; http://www.buildingscience.com/documents/reports/rr-0105-brick-stucco-housewrap-and-building-paper

http://www.buildingscience.com/documents/published-articles/pa-water-managed-wall-systems

http://www.buildingscience.com/docu...ucco-woes-the-perfect-storm?searchterm=stucco

And; http://www.buildingscience.com/documents/digests/bsd-105-understanding-drainage-planes

The gutters are too close to the wall and filled with snow wicking to wall or there is no "kick-out" flashing on the roof.

Gary