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Levels are applied to almost every item in the game. This includes cosmetics AND items. The prices that these levels give really depend on the rarity of that item and level. For example, a level 69 sandman may only be worth half a scrap to one user. But a rare glitch level 5 sandman might be worth a whole lot more. In terms of general TF2 priceing, item levels mean nothing unless its selling to a collector or the level is rare.
Crafted tags are interesting aswell. If the name on the craft is just a regular person such as you or me, it would be considered a 'dirty' hat, which does reduce the value of the item (not significantly. However if the name of the craft was someone popular, such as Notch or GabeN or whoever else the user considers as popular, the item is then considered 'signed'. The value of this varies from person to person, but most of the time people get a higher value than what the item without the tag is worth.
If you are unsure of how to price an item, take a look around the market and other trading websites, you're bound to find both sellers and buyers to get an idea of what you should price your item at.
This text has no significance to the value of the item, it can be easily deleted if you don't like it.
Thank you, very good info :) I will check listings.
Thank you for the help :)