With the growth along the concrete edges looks like it's been there for awhile. Interesting what will happen to that one side when the heavy rains come. Looks like a water line stain there already.
Agreed, it does not look to be brand new. I think the line you refer to as a "water line stain" may be more where the stucco was applied over the block (or whatever is underneath) and is as far down as it goes. That is if we are looking at and referring to the same thing.
