The lens flare which the object gives off is a very, very simple effect. Most probably using After Effects. I have used this program to do similar
stuff (not hoaxing UFOs) .
Notice how the lens flare flash is actually very high quality compared to the rest of the film. CG all the way.
Even though this is clearly a fake, I still enjoy looking at these. It gives us truth seekers a better resource pool of knowledge to draw from when
investigating. The dead give away is not just the lense flare, but the lack of vocal reaction from the person filming.
Remember this point for future questionable footage clips.
Very good point, NightVision. There's definitely background ambient noise - sounds like a domestic starting up at the last couple seconds - who could
see such a thing and not utter a word. I suppose it's possible, but not very likely.