I really liked the
Ovation GC057 for an electric-acoustic guitar under $500. I owed it for a few years before upgrading to another Ovation model.
Ibanez and ESP are good brands to consider for guitars under $500, and the
Fender Standard Statocaster can be found at $500.
I would advise going to a local store and trying out a few models. Just like basses, guitars have different feels and sounds (Fender vs Gibson). Some you will like, some you will hate.
Good luck!