This is really a compilation of two short films, Blackout and When Shadows Lie Darkest. Blackout concerns Sarah (Katharine Leis), who while trying to weasel out of culpability for killing her husband meets a mysterious stranger, Derrick (Jon Fish). When she is forced to go to Derrick for help, she discovers odd happenings and potentially dangerous secrets. When Shadows Lie Darkest is about Frank (Jon Fish again) who is plagued by dreams where he is a killer seeking vengeance due to a cheating girlfriend. But are they just dreams? How strong is Frank's grip on reality?
Phobias is without a doubt what I call a "no-budget" film. It has been released by Sub Rosa, after all, who as far as I know, only distributes no-budget horror. No-budget films, independent productions if any are, usually mean "home video" cinematography, often with only ambient lighting, amateur or semi-amateur actors, amateur or unsigned musicians providing a score/songs, and producers/directors/writers (often the same person) handling most of the technical chores, frequently inventing names for tasks such as art direction so that it seems like a more substantial crew was involved.
Those facts give them inherent quality hurdles. Many no-budget films cannot overcome these obstacles. They can be as agonizing to experience as root canal. A few are able to transcend the limitations to be good, if not great films (greatness usually requires at least entering low-budget territory). Phobias is one of those no-budget transcenders.
Producer/director/writer/cinematographer/editor/actor Robert J. Massetti obviously cares about creating quality horror films. He has written two good scripts that are focused on telling a compelling story with mostly interesting dialogue and clever twists. He also managed to get fairly good performances out of his cast. Both films may have benefited from even more takes to choose from, as occasionally the performances are a bit stilted, but enough scenes have "naturalistic" acting that the films work overall.
Massetti also does a great job shooting coverage and finding interesting angles for scenes. Where he might need the most work is on editing. Blackout has a couple scenes that have pacing problems--such as "Derrick" in his kitchen, watching the recalcitrant door, which tends to drag. I know the point was to build tension, but the scene could have been shorter, with more varied shots to build the tension. When Shadows Lie Darkest had editing that was too gimmicky for its own good. The "extended techniques", such as different film speeds, quick "shocking" inserts and such were need to be done on more professional equipment to work, and they seemed mostly out of character for the short.
The best thing about both films is the atmosphere that Massetti manages to create in Blackout. It's very rare that no-budget horror approaches what we could call creepy, but two extended sequences in Blackout work very well--the material showing Sarah's crime was directed and edited brilliantly, making it effectively brutal and cold, and the supernatural-oriented stuff in "Derrick's" house was directed and lit very well, plus Gina Rooney's special makeup was shown just enough to make it eerie, but not too much to enable us to see flaws or make it seem funny instead. For that matter, we could say the same about the gore effects and the way they're shot throughout both films.
Massetti also deserves credit for choosing good music for both films. Far too often no-budget filmmakers seem to decide to tackle the score on their own, or perhaps hire some relative or friend to do it, when they do not seem to have a background as a musician. That tends to result in extremely amateur-sounding music, especially if the composer attempts something other than noises or something that's not extremely minimalist (like John Carpenter's initial approach, which worked for him because he was just skilled enough as a musician to pull it off). But Massetti found experienced musicians and bands to provide his music. It makes the films seem much more professional.
If you're interested in no-budget horror film-making, Phobias is definitely a title you should check out. If you haven't seen any no-budget horror before, Phobias is a good introduction, but prepare to be let down when you start watching other titles. Phobias is better than many.