I'm not the biggest fan of found footage. But this movie actually has some very fine moments, though most of them come towards the end. There is your typical American student type of vacation seeking characters who are way in over their head. Also doing a lot of things wrong (you know the whole "don't go into that house" thing, where for no apparent reason at all people do actually go in ...).
But then again, if you didn't have characters do stupid things, would we have a movie? Would there be evil that had to be succumbed? Probably not, but how does that help the viewer feeling anything for those characters? That's a tough one to answer and something only you can answer for yourself. If you can overlook the flaws there is a decent horror movie in there somewhere ...