Just doing some research as I'll soon be looking for a quality and great sounding acoustic guitar. My budget is set somewhere around 600-700 dollars and I had my eyes set on martin guitars. However, I was introduced to washburn acoustic guitars and I must say, they seem to be of good quality. So my question to you guys; are these guitars great in terms of quality of sound and build? If not, could you recommend one around my budget and requirements? Thank you in advance.
i don't care for the sound of washburns. for your price, i'd definitely go with blueridge. - either the br-140 if you like mahogany

or the br-160 if you prefer rosewood

blueridge guitars are well made, sound great, the ones i listed are all solid wood, and blueridges come closest of any brand i know of to the martin sound. if you don't care about the martin sound, you might also want to try guild GAD guitars, which are all solid, high quality and sound great. seagull makes some solid guitars in your price range, although i actually prefer their lam back and sides guitars, and if you can go up $50, yamaha's L series guitars with the 1 in the name are also all solid.
As I recall, the brand-name "Washburn" has been sold several times and has been owned by several different corporate entities.
So....You might get a good one and you might not.... I would wager that the current ones are made in China...
That's neither good nor bad, really, the Chinese are perfectly capable of making good instruments. Then again, they sell poisonous drywall.....