The Falcon 9 first stage, if I recall correctly, is incapable of either hovering or slowly decending. The engine has simply too much power. A Falcon 9 first stage, stopped mid air has two choices, keep the motor on and go up, or turn the motor off and fall - and I don't think the motor has too many extra restarts available.
Because of this inability to hover the Falcon 9 first stage, SpaceX is attempting to have the rocket's vertical velocity reach zero at the exact moment the rocket reaches the pad. This is why when you watch the grasshopper or other SpaceX landing videos, you always wonder for a split second if the rocket has just smashed into the ground. In order for this to work, all nine axis (three each of position, rotation, and velocity) must be brought to zero at exactly the same fixed time. This is insane level control theory here.
Now this type of landing is theoretically possible - and I think it has been tested on the grasshopper at lower speeds, but it scares the willies out of me. There's almost no room for error nor for the chaos of the universe.
New Shepard on the other hand, comes to a hover about 100? feet above the pad, moves horizontally to be above the pad, stops, then lowers itself down. This is tremendously simpler since the rocket only really cares about one or two set of axis at a time, it does not have to be nearly as precise, and you have time to fix anything that's not lined up.
I'm still curious to see if SpaceX can pull off their landing style, or will instead change so that their first stages will be able to hover.