Andrew Douglas' 2005 remake of the supernatural horror grossed over $100 million worldwide and I'm sure that Weinstein is hoping third time's a charm for them. Perhaps Weinstein was also motivated by the success of Paranormal Activity. Whatever the reason, this move reeks of desperation. The company has recently admitted to facing a serious financial crisis and recently tried to claw their way out of a hole by way of another horror remake--Rob Zombie's Halloween I & II. I expect that they plan on starting a whole new franchise with Amityville since the original spawned 8 other films.
I enjoyed the original Amityville but didn't like the rest of the series. The 2005 remake was pretty terrible; I mean, it had Van Wilder in it, c'mon. It seems pointless to remake something so soon but perhaps it will justify itself unlike the last one. MGM holds different rights to the film and were planning on developing The Amityville Tapes, so we may be seeing yet another version pop up soon.
The 1979 film, The Amityville Horror, is based off the bestselling novel of the same name by Jay Anson. it chronicles the reported real-life paranormal experiences of the Lutz family who move into a new home that was the site of a mass murder.