Waterproofing a cinderblock wall...

I am in Gilbert Arizona just outside of Phoenix. My backyard is surrounded by a cinderblock wall. After the sprinklers run the excess water tends to run to the back of the yard, though I never see standing water. The cinderblock in the wall tends to wick this water. The problem is that eventually the stucco on the street side eventually becomes unstable due to the moisture and inevitably I end up having to patch several spots at least once a year. I am wondering if there is a product that I can apply to the inside of the block that will penetrate enough to prevent the wicking action ( good luck to me). What about applying this over the stucco on the street side?
More than likely it would be best for me to re-grade the back of the yard to prevent the water running that way. Any suggestions appreciated.
Brandon
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You wouldn't waterproof the inside of the block, which would be pretty impossible on a wall that's already built; you'd treat the outside of it.
DryLok makes a waterproofing paint available at most big boxes that supposedly will penetrate the cinderblock (at least their sales display -- complete with running water and everything -- that I recently saw at Menard's shows this). Zinsser also makes a similar waterproofing paint, but they don't mention anything about penetration.
Either one ain't cheap, tho. Runs about $60 for a 3-gallon bucket, but you can roll it on. I used the Zinsser in my basement because it has anti-mold stuff in it, and a little covered a lot.
AJS

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Prosoco is often specified by architects: http://www.prosoco.com/ProductList.asp?m=4&i=1
Bonsal makes excellent products: http://www.bonsal.com/index.html
This is what I use: excellent results, local supplier/manufacturer http://www.chemicalproductsokc.com/water_repellents.htm
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Keep the whole world singing. . . . DanG

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