In a large skillet or saucepan, melt butter over medium heat; add apples. Keep a cup of water nearby to add if they start to stick. Cook, stirring constantly, until apples are almost tender, about 6 to 7 minutes.
Dissolve cornstarch in 1/2 cup cold water; add to skillet. Stir in brown sugar, vanilla and spices. Boil for 2 minutes, stirring occasionally. Remove from heat and serve warm.
Great with pancakes, crepes, pork chops, or with ice cream.