Bike stuff can be expensive. That bike, considering its full chromoly and new, with sealed bearings, is a good deal. However, if its out of your budget, look around, like you said. There is no shortage of kids that wanted an expert level custom from mommy and daddy, but then, still couldn't hop, and gave up, so they are selling a $1700 bike on Craig's list for 5 or 600.
Refs: Tito24, RiverSideRider, Stussy, Nettyspaghetti, Daniel24, Freddydapice, BrokenBMX, SuperstarDK, HardBMX_Tim. There's more, but I'm too lazy to look them up, haha.