This is what I would recommend:
PCPartPicker part list: 
http://pcpartpicker.com/p/3G7Ag
Price breakdown by merchant: 
http://pcpartpicker.com/p/3G7Ag/by_merchant/
Benchmarks: 
http://pcpartpicker.com/p/3G7Ag/benchmarks/
CPU: Intel Core i5-4670K 3.4GHz Quad-Core Processor  ($229.99 @ NCIX US)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler  ($29.94 @ OutletPC)
Motherboard: ASRock Z87 Extreme4 ATX LGA1150 Motherboard  ($114.99 @ Newegg)
Memory: G.Skill Ares Series 8GB (2 x 4GB) DDR3-1600 Memory  ($68.99 @ Newegg)
Storage: Samsung 840 Pro Series 128GB 2.5" Solid State Disk  ($106.99 @ Amazon)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive  ($54.43 @ OutletPC)
Case: Corsair 200R ATX Mid Tower Case  ($44.99 @ NCIX US)
Power Supply: Corsair CX 600W 80+ Bronze Certified Semi-Modular ATX Power Supply  ($49.99 @ NCIX US)
Total: $700.31
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-05-08 08:34 EDT-0400)
Perfect balance between price and performance 

 You can remove the SSD if you want to lower it to 600$