I have read the rules for crafting items as my PC has taken craft wondrous items. I am a fifth level caster and I want to craft a headband of vast intelligence +2. The CL is listed as 8 while the requirements are Fox's Cunning, and 2000 gold pieces. This would take two days to create.
The DC to create the magic item would be 5 + 8 or 13. Now is it correct that I can craft this item or does your caster level actually have to be 8? On pages 548-550 I do not see any mention that this is the case with the exception of crafting magic weapons and armor where you have to have a caster level 3 times the enhancement bonus.
From what I can tell, all you need is the spell and the feat. I believe the 'CL 8' listed for the magic item is the strength of the item's magic aura, not any kind of prerequisite for making the item. I don't see any reason why you can't craft that item as soon as you have the Fox's Cunning spell (and have the Craft Wondrous Item Feat). I think that it would actually take 4 days to create, since the cost to create the item may be 2000 gp, but the base price is 4000gp. I'm really not too familiar with creation rules, but just from reading the book, this is the conclusion i've drawn.