Lake Mungo (2008)

There's a certain something with ghost stories. If its taken for granted that ghosts exist, you lose a lot of the mystery. If its solid and concrete that ghosts don't exist, its just Scooby Doo. Part of the key to a good ghost story is walking the line of, "is this real or am I crazy?"
Lake Mungo walks that line exceptionally.  This fictional documentary follows an Australian family after they lose their daughter in a freak swimming accident. After images of the dead girl are found in family photos, the family takes every step they can to keep their daughter in their lives, including setting up video cameras and hiring a psychic. As the months go by, they discover the many secrets their daughter hid, including ones that may have foretold her death.
Spoiling anything else about Lake Mungo is doing a disservice to a viewer as much of the suspense of the movie hinges on a few major reveals. The film is very droll and very methodically paced for a ghost movie but this adds to the documentary atmosphere. Its effective at what it is, not so much a ghost story as a story about dealing with grief and the consequences that follow. Its well-acted, any flaws hidden by the documentary style, and composited well. Keep an eye on the white space and be sure to stay through the credits.