Don Vandervort, Head Homeboy, has written more than 30 DIY home improvement books, been a segment host on HGTV, served as MSN.com's home improvement expert and written countless magazine articles.
The fact that all siding paint produces a slight chalk-like substance is fine—this allows a good rain to rinse dirt off the siding. Excessive chalking, on the other hand, dulls the paint’s sheen and color. Power washing the siding may solve the problem; if not, you'’ll have to repaint.