Johny
You really haven't said what you wanted this pistol for. If you want a true bullseye gun you probably need to save some more money. If, however, you want to shoot IDPA or something like that along with some informal bullseye shooting there are a good number of guns in your price range. The following are my opinions only, based on what I have owned, what I currently own and, the experiences of my friends.
Taurus PT 1911: I have two of these and they are exceptional guns for the money. They are the most accurate 1911's that I own. They are not however bullseye gun though I have heard of people starting with these and upgrading parts later.
Springfield Mil-spec: I own one that has had a lot of upgrades including target sights. Someone put a lot of money into this gun though they did not put any into the trigger pull. I will be buying new internals to smooth things out in the near future. My next step is to have a new bushing fit and probably a new link. I still don't think it will make it as a Bullseye gun. Right now there is close to a thousand dollars in this gun, fortunately I bought it for way less than that. It will do all I need it to for another hundred. If I were going to buy a Springfield, with the intentions of upgrading later, I would probably start with a "Loaded Model". Look around the classified section you might find a good deal.
Kimber: I own two and I bought them both used. I like them for what they are and, in the case of the newest one, for how it looks. Neither of them shoot particularly well. In the case of the first one, it wouldn't feed ball ammo when I first got it. I would not buy a new Kimber, they are overpriced. If you you buy them right however, they can be a good deal.
Rock Island: Honestly, I have been trying to buy one of these for a long time. There is too much good out there being said about them to not be intrigued. I really want a compact model. I love bargain guns that work.
I was going to buy one when I came across the Kimber Eclipse Target that I just bought. In your price range, their target model might be the place to start unless you aren't going for a bullseye gun, then I would recomend their Tactical model.
Colt: I have owned two colts in the past and frankly they were the reason for me not owning ANY 1911 for the past 18 years. Neither worked for beans. That said, I am willing to give them another try but, as I said, I have not had good luck in the past. Like Kimber, however, the name Colt does get peoples attention.
Para: Personally, I have had no experience with them other than to handle a few of them. At this point, due only to what I have heard, I wouldn't spend the money on one.