This franchise is completely overdone. They should never have made a third one. It just doesn't work. The worst part is this movie is actually a good movie. The bad part is that this movie is part of a series known for it's greatness. If you'll notice, the director of the first two (Chris Columbus) did NOT return for this one, and that it is under new direction. This may be part of the problem, but the biggest problem is that you'll just be shaking your head at how unrealistic it was. Two burglers are different than 5 FBI-wanted criminals, who are dealing with missiles. It just doesn't make sense. The lack of realism and the fact that this series should NOT have been made into a trilogy simply takes a lot out of this film.
Based on reading these reviews, people who like the first 2 seem to hate this one, and people who never saw the first 2 really like this. There are some exceptions, however. Basically, this movie would be much better if it was NOT part of the Home Alone series.