Kris Mandy Holder, 16, and Brian Ronell Snipes, 19, were captured after a short manhunt. They face charges in Wake, Durham and Alamance Counties.
The chase started when a Wake County deputy tried to stop a Honda that was reported stolen.
The suspects then took off into the Oaks at Harrington Grove.
"The first thing I noticed was the sound," said witness Cathy Templeton. It was the sound of "a car going very fast, at least 100 miles an hour."
Homeowners watched in amazement. "They chased him. They came down the street, they went down to the end of the road, wrecked into the end of the fence," described witness Bryan Watson. "The deputy had him cornered there, and then he got away from him."
The two suspects crashed the Honda into a mailbox at North Exeter and Leesville Boulevard, then took off on foot.
"One policeman would chase him this way, and another would chase him back that way, and they'd just keep going through," Templeton said.
Witness Cindy Morris saw one suspect flee over her fence. "I knew he was in trouble because he jumped that fence with no hands, nothing, over the top of that fence, and the officers were right after him."
The other suspect struggled with a Wake County Deputy, hitting the officer over the head with a stick.
"We saw him fall down, and then I saw him roll on his back and wave to get their attention, and that's when they called the ambulance," Templeton said.
The suspects were reportedly armed, so officers secured the perimeter, and Raleigh Police, the State Highway Patrol, even the DMV -- about four dozen lawmen -- joined in the search, on foot, with dogs and from the air.
After two hours, an off-duty Raleigh policeman saw one suspect cross his yard a mile away on Lianna Drive.
Margaret Moore was stunned to learn where police found him. "My husband said he was under the house," she said.
The Durham County Sheriff's Department found the other suspect off Victory Drive.
Holder and Snipes are charged with speeding to elude arrest, possession of stolen property, secret assault and assault with a firearm on a law enforcement officer. All are felonies.
Snider also faces charges of aiding and abetting secret assault.
Authorities say their arrests clear up eight other auto thefts, three armed robberies and several breaking and enterings in Wake, Durham and Alamance Counties.
The Wake County deputy is recovering from a concussion.