Not terrible (contains spoilers)

Honestly, I thought there were some gems in this movie. My favorites include the ghost holding the blind lady's door open and the dream wherein young Jeff goes into a dark room hearing his father's voice before the light comes on and reveals that his father had been dead the whole time. Oh, and the ghost boy in the wheelchair. Um... well, that was about it, but I thought the movie was based on a good premise.

If there had just been less flashbacks and dreams and more ghosts and scenes that actually moved the story along, it would have been a lot better. I thought the film started off strong, after the initial flashback, I mean. The dead girl in the alley was really creepy, and I really enjoyed the dark ambience. Even the dialogue seemed appropriate, because it was muted and ambiguous. I liked how the camera kept switching back and forth between various awkward angles, because it kept me tense the whole time. Kind of reminded me of Silent Hill (the games, not the movie).

Overall I'd say it's worth watching just to appreciate a cheap film that nonetheless had a lot of effort put into it.