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If the power washing doesn't do the trick, then definitely consider painting it (but just like the other poster said, stick with a neutral color if you can). I also read somewhere that the front door itself makes a big difference when people come to look at the house. It is what "welcomes" them into the home.
It couldn't hurt, right? Though, from my encyclopedic knowledge of programming on HGTV and TLC, many designers and realtors say that you should pick a neutral color. If you pick fire engine red for your dining room and canary yellow for your kitchen, you're going to turn off your potential sellers.