I really wouldn't do this to your metabolism. Most of the people I know who restrict their calories like this have a really hard time as they get older and they have to keep eating less and less to counter the downward metabolism shifts. I've never been a dieter and can now eat 2,000+ calories a day in my 40's without gaining.
I'd aim for 1-2 lbs a week, and at least 1,200 calories a day of very clean, healthy food. Using portion control and cutting out junk carbs, nutritionally devoid snacks, etc. and replacing them with just good food - that should help. Make sure you're exercising, especially weight training for added all-day calorie burn.