Your paying almost twice what that system's worth. Maybe more since a lot of the components are garbage.
Here's basically the same, although with a full size ATX motherboard and another case:
PCPartPicker part list:
http://pcpartpicker.com/p/FNPvCJPrice breakdown by merchant:
http://pcpartpicker.com/p/FNPvCJ/by_merchant/CPU: Intel Core i7-4790K 4.0GHz Quad-Core Processor ($342.98 @ Newegg)
CPU Cooler: Cooler Master Seidon 120M 86.2 CFM Liquid CPU Cooler ($44.99 @ Newegg)
Motherboard: Asus Z97-A ATX LGA1150 Motherboard ($153.98 @ Newegg)
Memory: Mushkin Stealth 16GB (2 x 8GB) DDR3-1600 Memory ($116.98 @ Newegg)
Storage: Samsung 850 EVO-Series 250GB 2.5" Solid State Drive ($124.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($51.98 @ Newegg)
Video Card: PNY GeForce GTX 980 4GB Video Card ($593.98 @ Newegg)
Case: Thermaltake Versa H21 ATX Mid Tower Case ($49.98 @ Newegg)
Power Supply: SeaSonic G 550W 80+ Gold Certified Semi-Modular ATX Power Supply ($98.98 @ Newegg)
Optical Drive: Samsung SH-224DB/RSBS DVD/CD Writer ($15.98 @ Newegg)
Operating System: Microsoft Windows 8.1 (OEM) (64-bit) ($102.98 @ Newegg)
Case Fan: BitFenix BFF-SPRO-12025KK-RP 56.2 CFM 120mm Fan ($13.48 @ Newegg)
Total: $1711.28Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-03-04 09:10 EST-0500
The price can be cut down by another $200, if the components are bought from the cheapest vendor of each.