I am really happy with my Flexsteel sectional.. it is looking very, very good after several years.

But I don't think it can be had for your price point.

katie111, unless you have a walk-out basement, have you considered how you will get the sofas into your basement?
Find a sofa for less than $1000 that has a solid hardwood frame; doweled and screwed together, spring seating and a HR high density foam seating, plus a lifetime warranty, covered in a durable and easy to clean micro-suede fabric is your best option. But this is a rare find!

Here is a link that might be useful: sofas for less than $1000

Rmanbike makes a number of good points you might be better off buying two well made sofas rather than a sectional.

Another good option for this would be to check out Craigs List for something used but still in excellent condition. You would be suprised at what you could find if you are patient.