I wanted to share my experience, so nobody had to experience the same thing.
Saturday night is when the a/c went on the fritz. It was stuck on HEAT. The house got up to 95 degrees. I called a friend that I knew had recently gotten some work on their a/c, and they recommended a company called Colony. I called them and a gentleman came out for a $99 service charge. After much futzing around, he said that I needed to replace the reversing valve, that it would cost about $700 and they could order the part on Monday.
Today, I decided to call around and see if anyone could beat that price. I'm SOOOOOOO glad I did.
I called A#1 Air conditioning and risked them coming out for a $69 service charge. The guy came out, opened up the unit and tested a few things. He found that the problem was a LOOSE CONNECTION! He pushed the connection tighter and the a/c kicked on. For a grand total of 5 minutes and $75 total, my a/c is fixed.
We went almost 3 days without air conditioning, trying to figure out where I was going to get $700, and it was a loose wire.
Obviously, I highly recommend A#1, and would caution others about Colony a/c.
Boy, am I pissed that the other company tried to rip me out of $700 when it was just a loose wire! I am especially angry that they had me in a house with kids and no a/c for days. Grrrrr.