I just saw this, and this is how horror movies should be made.
I was not very interested in seeing this movie. I read a very brief synopsis of it, and when I read it took place in an old orphanage, I passed on it earlier. I was bored, so I decided to give it a chance, but I wasn't expecting much. At first, the haunts were very mild. Later, they became so much more, as did the movie. The acting was very good, as was the directing and storyline. It's not that original, because there have been many movies that take place in abandoned institutions such as hospitals and such. However, they developed fun characters - especially Julie :D I recommend this movie.
I gave this a 7-star rating. This is how good horror films should be done, and it's the first one that I've seen in a long time that I felt really impressed by. My one problem with this is that I really don't like found-footage films very much, because they say that what it is at the beginning, making it obvious everybody dies. I prefer to see that for myself as the movie plays out. Anyway, there's an added scene after the credits, so stay tuned for that.