Good build for under $700

Solution
Decent built, but the case and psu is pretty low quality.
Here's my recommendations:

PCPartPicker part list / Price breakdown by merchant / Benchmarks

CPU: AMD FX-6300 3.5GHz 6-Core Processor ($119.99 @ Newegg)
Motherboard: Asus M5A99FX PRO R2.0 ATX AM3+ Motherboard ($109.99 @ Newegg)
Memory: Corsair Vengeance 8GB (2 x 4GB) DDR3-1600 Memory ($56.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($69.99 @ Newegg)
Video Card: EVGA GeForce GTX 760 2GB Video Card ($249.99 @ Amazon)
Case: NZXT Source 210 Elite (White) ATX Mid Tower Case ($43.26 @ Amazon)
Power Supply: XFX...
Here it is

PCPartPicker part list: http://pcpartpicker.com/p/1u36R
Price breakdown by merchant: http://pcpartpicker.com/p/1u36R/by_merchant/
Benchmarks: http://pcpartpicker.com/p/1u36R/benchmarks/

CPU: AMD FX-6300 3.5GHz 6-Core Processor ($119.99 @ Newegg)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($29.99 @ Microcenter)
Motherboard: Asus M5A99FX PRO R2.0 ATX AM3+ Motherboard ($109.99 @ Newegg)
Memory: Corsair Vengeance 8GB (2 x 4GB) DDR3-1600 Memory ($56.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($69.99 @ Newegg)
Video Card: EVGA GeForce GTX 760 2GB Video Card ($249.99 @ Amazon)
Case: Cooler Master Elite 431 Plus (Black) ATX Mid Tower Case ($34.99 @ Newegg)
Power Supply: Corsair Builder 600W 80 PLUS Certified ATX12V Power Supply ($39.50 @ Newegg)
Optical Drive: LG GH24NS95 DVD/CD Writer ($14.99 @ Newegg)
Total: $694.42
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2013-08-20 01:16 EDT-0400)
 
Decent built, but the case and psu is pretty low quality.
Here's my recommendations:

PCPartPicker part list / Price breakdown by merchant / Benchmarks

CPU: AMD FX-6300 3.5GHz 6-Core Processor ($119.99 @ Newegg)
Motherboard: Asus M5A99FX PRO R2.0 ATX AM3+ Motherboard ($109.99 @ Newegg)
Memory: Corsair Vengeance 8GB (2 x 4GB) DDR3-1600 Memory ($56.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($69.99 @ Newegg)
Video Card: EVGA GeForce GTX 760 2GB Video Card ($249.99 @ Amazon)
Case: NZXT Source 210 Elite (White) ATX Mid Tower Case ($43.26 @ Amazon)
Power Supply: XFX 750W 80 PLUS Bronze Certified ATX12V / EPS12V Power Supply ($54.99 @ Newegg)
Optical Drive: LG GH24NS95 DVD/CD Writer ($14.99 @ Newegg)
Total: $702.19
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2013-08-20 01:37 EDT-0400)

-took out cpu cooler. You can always add it in later in the future when you get a bit more money.
-Upgraded psu and case. Much better quality psu and case.
 
Solution
Corsair is generally a really good brand. However, their only bad psu is the Corsair CX line-up. They use crappy channel well capacitors so they are low-quality, which is why it's much cheaper than others.

Yes, 750w is overkill. But look at the price. $55 for 750w? That's extremely cheap for a good quality psu. The 550w version is $55 as well.

I think going $2 above budget is worth the extra quality you're getting.