Preparation

1. Preheat oven to 350 degrees. Prepare a 9 inch round cake pan with butter and flour.
2. In a large saute pan, melt 3 tablespoons of butter over medium heat. Stir in water and brown sugar and continue to cook until sugar is dissolved, about three minutes. Add in peach slices and cook an additional 2 minutes. Set aside.
3. For the brown butter: Melt 4 tablespoons of butter in a small saucepan over medium heat. Swirl butter in pan until it begins to brown and smell nutty. Pour brown butter into a bowl and set in freezer for about 10 minutes - until the consistency is close to softened butter.
4. In a medium bowl, whisk flour, salt, baking soda, and baking powder together.
5. In a separate bowl, cream together softened butter, brown butter, and sugar. Add in eggs one at a time, mix to combine. Finally, add in vanilla.
6. Alternate adding flour and buttermilk in three batches.
7. Arrange peach slices in the bottom of prepared cake pan. Pour the caramelized brown sugar over the peaches.
8. Add the batter, one spoonful at a time, to the cake pan. Spread evenly over the pan and the peaches.
9. Place pan in oven for 25-30 minutes, until a wooden skewer comes out mostly clean.
10. Remove pan from the oven, and carefully flip out onto a plate, letting the caramel glaze drizzle down. Let cool for a few minutes, and serve up hot!