As any painter will tell you, prep work is just as important -- if not more important -- than the paint application itself. If the paint on your house is chipping or peeling, it needs to be scraped and sanded smooth before applying a new finish. In most cases, you won’t need to remove all the existing paint, but scraping, sanding, patching, caulking, and priming are critical steps that take place before the start of most exterior painting jobs.
I agree with Jeff below, these prices are far below what I see on the market in the Portland Or. area. When one uses the term "paint the house" what exactly does one mean? Any fool can buy an airless paint sprayer and put paint on a house. New homes built with fiber cement siding paint clean and easily but older homes built with wood require much prep work.
O'Neil patches shallow holes and divots with Ready Patch because it dries fast, sands smooth, and stays flexible. Deep cracks and rotten spots are best repaired with two-step epoxies, such as those made by Advanced Repair Technology. (For a step-by-step instructions, see Repairing Rot with Epoxy.) The days of using polyester auto-body fillers on wood are over. "They cure too hard," says Portland, Oregon–based painting contractor Kathleen George. "They look good at first, but then they peel away."