I think it is more in the Suspense than Horror Genre, but check out Magic with Anthony Hopkins...this is one of the few suspense/horror flicks that actually had me jumpig out of my seat. Another good one that is not classic horror, but very good is Dressed to Kill about 1980 with Michael Caine. You can tell I am an oldie huh??? lol
I'm big fan of the modern classics you should go watch The Blairwitch Project, The Shining and Friday the 13th. Want a new kind of horror? then watch Under the Skin with Scarlett Johanssen and be prepared.
I dont why recently there have not been any good horror films in production. My best horror movie of all time is Jeepers Creepers.