My wife and i, along with a friend, were leaving our house to meet some friends for dinner. the weather was warm, probably in the mid 60s, and when we left the house some friends and their daughter were out front walking their dog. we stopped to say hello, said good night, and got into my car. when i was pulling out the driveway i was checking for any oncoming traffic. while looming west a rapidly moving, relatively low (500 ft - 1 mile), orange-red light caught my eye. two things caught my attsntion: the speed and the color. we have a small airport nearby so we're used to seeing and hearing some of the small planes in the area but this was new. at one point it appeared to wobble or slightly deviate from its path but that could have been caused by it being temporarily obscured by tree branches. the whole event lasted no more than 3.5 seconds and the light traveled from east to west before being lost to sight. as we were leaving our street i noticed that there appeared to be a smaller plane of the type we're accustomed to seeing in the sky. this plane had its blinking lights on and was located a bit further to the south of the unknown object's trajectory.